A Guide To College Resource And Financial Management

Robert P. Lawrence

• Publisher: Routledge
• Year: 2013
• ISBN:
  9781135783914
• Edition: 1
• Topic: Bildung
• Subtopic: Bildung Allgemein

This text is part of the "Managing Colleges Effectively" series that is designed for managers at all levels and governors of colleges in the new further education sector who are undertaking new and enhanced management tasks and responsibilities arising out of incorporation. This book is also relevant to similar areas in schools - particularly grant maintained and independent schools - and higher education generally.; This is an easy-to-read-and-follow practical book for non-specialist staff who have financial/resource management responsibilities as part of their jobs. It is aimed at the manager at all levels of the institutions and for those who want to know more about college finance and require a practical and comprehensive guide.

Annex A

Example of End of Year Report and Financial Statements

Report and Financial Statements

for the period from

30 September 1992 to 31 July 1994

Report of the Members of the Corporation for the
Period from 30 September 1992 to 31 July 1994

Mission

The College’s mission states that:

‘We are committed to creating learning opportunities which enable individuals to achieve their personal, educational and employment goals. In doing so, we strive to stimulate the demand for further education among all sectors of the community.

We seek to work with employers to help develop the competence and interests of their employees and to increase the effectiveness of their enterprise.

We aim to serve a national and international community while continuing to be responsive to the needs of our locality.‘

Financial Objectives and Review of Out-turn for the
Period

In 1992 Parliament passed the Further and Higher Education Act. As a result, _______ College of Further Education Corporation came into existence on 30 September 1992. _________ College of Further Education was transferred to the Corporation on 1 April 1993. On that date College staff ceased to be employed by ________ County Council and transferred to the employment of the Corporation. Similarly land, buildings and equipment were transferred from the local authority to the ownership of the Corporation.

These financial statements are for the first accounting period of the Corporation ie 30 September 1992 to 31 July 1994, although during the period to 31 March 1993 the Corporation received only transitional funding of £40,000. Transitional funding was used by the Corporation to prepare for independence, in accordance with guidance issued by the Further Education Funding Council (FEFC).

The members of the Corporation planned for and achieved an operational surplus for the period, while making provision for a planned maintenance programme, remodelling of existing buildings and the purchase of computer equipment.

Developments

Members planned to increase student numbers by 8 per cent during the 1993-94 academic year over the 1992-93 level. This growth was achieved and 15,091 students studied at the college during that year of whom just over 2000 were full-time.

During the 1992-93 academic year, the agreed outcomes of an organizational review were successfully implemented. These changes were designed to ensure that the College could respond to the significant curriculum changes which were taking place in further education, as well as to fulfil the requirements of incorporation.

In September 1992 the FEFC conducted a sector-wide survey of the condition of College buildings. Hunter and Partners were contracted to undertake the survey.

The survey determined the condition of the College’s buildings and placed the cost of the necessary remedial work in three main categories, the first of which was subdivided into two.

• Priority 1(a): Items of urgent work relating to breaches of legislation which should be undertaken as soon as possible and certainly within one year of the date of survey. This includes work relating to health and safety of occupants, fire regulation and environmental health requirements, particularly where premises have been given recommendations for the remedy of deficiencies.

• Priority 1(b): Items of urgent repair work which should be carried out within one year of the date of survey.

• Priority 2: Items of work to be undertaken within two years of the date of survey to maintain the use and value of the building.

• Priority 3: All items of work identified to be undertaken within five years of the date of the survey in order to maintain the condition of the buildings.

The Hunter programme (priorities 1(a), and 1(b) and 2) are being partly funded by the FEFC. During the period covered by this Report, the College has completed all Priority 1(a) work, and most of 1(b), and is progressing well with Priority 2 work.

Following a full inspection by Her Majesty’s Inspectors, the College installed a fibreoptic network during the 1992-93 academic year and purch...