Minutes of the Finance Committee Meeting held in school
Thursday 11th February 2016 at 6.30pm
Present: Mr S Wratten (Chair), Mr R Nowell and Mr D Finlay.
In attendance: Mrs S Bletchly (Bursar) and Mrs R Morrison (Clerk).
The Clerk confirmed that the meeting was quorate.
1 Welcome and apologies
1.1 The Chair welcomed governors to the meeting. Apologies had been received and were accepted from Mr Ingall (Headteacher) and Mr T Bennett. The committee noted that the Headteacher was working as the professional advisor for the Headteacher’s appraisal at another school; this work will generate additional income for this school. Mrs Matthew’s (Co-opted governor) offer to attend this meeting if it was not quorate was appreciated. The Chair will write a letter of thanks. ACTION CHAIR
2 Conflicts of Interests
2.1 No conflicts of interest were declared against any of the agenda items.
3 Minutes of the meeting held on 26-11-15
3.1 The minutes were agreed and signed as an accurate record of the meeting.
4 Matters arising from the minutes of the meeting held on 26-11-15
4.1 Additional committee member (minute 1.1) – At the last meeting of the Governing Body it had been agreed that Mr Bennett will join this committee.
5 Integrated Business Centre (IBC) update
5.1 The Bursar advised that the system is still difficult for HR systems but is better for finance. Governors preferred the new format of the budget reports produced. An additional column to show the variance percentage would be helpful. The Bursar advised that the IBC is still developing the reports so the format may change.
6 Budget Monitoring
6.1 Copies of the Revenue Budget and Devolved Capital budget monitoring reports (period 10) plus the Budget Monitoring Commentary had been circulated prior to the meeting. The Bursar answered the committee’s questions.
i) Capital – The committee had previously agreed to use Devolved capital for ICT purchases. The forecasted surplus of £4591 will be rolled over to 2016/17. The current ICT provider is producing quotes for the school’s ICT provision.
ii) Unexpected expenditure – The committee asked if there is likely to be any unanticipated expenditure. As the year end approaches it is unlikely unless there are any building issues.
iii) Forecast – Governors were pleased that the predicated yearend outcome is only £3K less than predicted in the original budget forecast. The forecasted surplus is now £98K against an original forecast of £101K.
iv) Carry forward – The committee spent time considering if the surplus should be spent this year. £15K of this money is vulnerable as it relates to the Maternity Insurance refund. A further £5K has already been committed. The longer term budget shows a deficit which the current surplus would be used to support. The committee asked what actions could be taken to support the longer term budget. The Bursar advised that the future budget is considered when staff are recruited. Following discussion the committee agreed to look at this further at the next meeting when the new 5-year budget will be available. The committee asked the bursar to find out the position regarding waiting lists for the before and after school clubs. ACTION BURSAR
The committee thanked the Bursar for the helpful information.
7 ICT provision and strategy
7.1 School strategy – The Bursar advised that the ICT co-ordinators are writing an ICT strategy from the school’s perspective.
7.2 ICT equipment – The Bursar tabled and presented quotes sourced by the Turn IT On (current ICT provider) for leasing or purchasing equipment. Turn IT On had undertaken an assessment of the school’s current equipment. Much of this is obsolete. The netbooks will be replaced by laptops. IPads are used but the curriculum requires pupils to also use keypads to develop their keyboard skills. The committee discussed the arguments for and against leasing or purchasing equipment. Following discussion the committee agreed to lease ICT equipment subject to the Bursar confirming with Turn IT On:
i) The equipment is replaced during the 3-year agreement if it breaks down and,
ii) What the options and costs would be regarding continuing using the equipment at the end of the 3 years. ACTION BURSAR
The committee noted that the leasing fee would likely be funded from a mixture of the revenue and capital budgets.
7.3 Broadband – The Bursar advised that it would cost £12K- £14K to upgrade the Broadband to a faster more efficient system. Discussions are taking place with Turn IT On regarding changing the current provider from Talk Straight to Turn IT On’s provider when the current contract is due for renewal in August.
8 Policies
8.1 Internal Financial Procedures Manual Policy (IFPM) – Copies of the model policy had been circulated prior to the meeting. The Bursar tabled a revised version highlighting the differences between the model policy and the current policy. Governors noted that there are inconsistencies in the model policy such as ‘SAP’ sometimes, but not always, being replaced with ‘The accounting system’.
Governors asked for information regarding the LA’s responsibilities. The Bursar advised that the LA maintenance plan includes provision for larger items such as the boiler and the flat roof. The LA also carries out checks such as the water risk assessment, asbestos check and Health & Safety audit.
Following discussion the committee asked that the Bursar drafts the IFPM to reflect current practice in school, but keeps the policy as close as possible to the model. This will be an agenda item at the next meeting. ACTION BURSAR
8.2 Charging and remissions for school activities – The committee approved the policy which had been circulated prior to the meeting.
8.3 Disposal and Write Off – The committee approved the policy which had been circulated prior to the meeting.
9 Pupil Premium funding
9.1 The Bursar tabled and presented the Pupil Premium Grant Expenditure 2015 to 2016 report:-
i) Pupil premium allocation - All interventions have been entered onto the Blue Hills system. The Bursar explained that this includes all interventions and not just those relating to pupil premium pupils. The pupil premium allocation for 2015/16 is £92,240, but the Blue Hill system shows expenditure of £146,880; the Bursar is working on separating out expenditure for pupil premium pupils.
ii) Interventions – The Chair explained that the system will allow trends to be identified to establish which interventions are successful and to aid future planning.
iii) Training – All teachers have received training on Blue Hills and have been offered the opportunity to work with Mrs Pearson in recording their interventions.
iv) Parents – Governors asked if parents can check if their child is receiving their allocation of pupil premium funding. The Bursar advised that parents are given information regarding what interventions their child has. The school is not obliged to account for how the funding is spent on individual pupils.
9.2 Report – The committee agreed that the report was helpful but acknowledged that it is a work in progress. The standards committee considers the report in terms of progress. The financial information in the report will be reviewed again by this committee at the next meeting. ACTION CLERK – Agenda item term 5.
10 Any other business
10.1 The committee asked when the new kitchen equipment will be installed. This is likely to be in March. The Bursar confirmed that it will be funded by county.
11 Date of the next meeting
11.1 Thursday 14th April 2016 at 6.30pm; this meeting will be primarily to consider the new budget. The committee agreed not to meet in term 4 as no new financial information would be available until term 5.
The meeting closed at 8.05pm.
Finance Committee meeting 11-2-16
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