Failure to maintain the financial viability of the College The College’s current financial health grade is classified as “xxxx” as described above. This is largely the consequence of [detail out any reasons including deficits, recent renegotiation of lending facilities and associated covenants etc]. Notwithstanding that, the continuing challenge to the College’s financial position remains the constraint on further education funding arising from the ongoing cuts in public sector spending whilst maintaining the student experience. This risk is mitigated in a number of ways: By rigorous budget setting procedures and sensitivity analysis Regular in year budget monitoring Robust financial controls Exploring ongoing procurement efficiencies STAKEHOLDER RELATIONSHIPS In line with colleges and with universities, Casterbridge College has many stakeholders. These include: Students; Education sector funding bodies; Form /FE Commissioner;] Staff; Local employers (with specific links); Local authorities; Local Enterprise Partnerships (LEPs); The local community; Other FE institutions; Trade unions; Professional bodies. The College recognises the importance of these relationships and engages in regular communication with them through the College Internet site and by meetings. Equality [example statement – tailor to own circumstances] The College is committed to ensuring equality of opportunity for all who learn and work here. We respect and value positively differences in race, gender, sexual orientation, disability, religion or belief and age. We strive vigorously to remove conditions which place people at a disadvantage and we will actively combat bigotry. This policy is resourced, implemented and monitored on a planned basis. The College’s Equality Policy is published on the College’s Intranet site.
and if they wish to include their compliance with it as an important element of their Corporate Governance and Internal Controls] The College is an exempt charity within the meaning of Part 3 of the Charities Act 2011. The Governors, who are also the Trustees for the purposes of the Charities Act 2011, confirm that they have had due regard for the Charity Commission’s guidance on public benefit and that the required statements appear elsewhere in these financial statements. The Corporation The members who served on the Corporation during the year and up to the date of signature of this report were as listed in the table below. Date of Term of office Date of resignation Status of appointment Committees served in 2016/17 Ms C Linton 30 Sept 2011; reappointed 29 Sept 2015 3 years Independent member Chair: Corporation; Chair: Remuneration; finance and general purposes; search x/y Mr M Henchard – Principal x/y Ms M Bold 2 Sept 2014 4 years Independent member Chair: finance and general purposes x/y Mr D Farfrae 2 Sept 2014 4 years Independent member Chair: audit x/y Ms U Meah 2 Sept 2014 4 Independent member Finance and general purposes x/y Ms B Sharp 30 Sept 2015 3 years Community representative Finance and general purposes; search x/y Mr A Child 30 Sept 2015 4 years Co-opted member Audit x/y Mr T Tulliver 1 Oct 2016 1 year 1 July 2017 Student member x/y Capt. F Wentworth 4 Sept 2015 4 years Independent member Remuneration x/y Mr S Marner 4 Sept 2015 4 years Independent member Audit x/y Ms A Sedley 1 Oct 2017 1 year Student member x/y Mr M Choakumchild 30 Sept 2015 3 Staff member x/y Ms A Elliott 2 Dec 2015 3 years Co-opted member Remuneration Chair: search committee x/y
[Colleges should consider expanding the analysis above to mirror the Finance Record and Plan – for example showing payments to subcontractors as a separate line] 10 Interest and finance costs – Group and College 2017 2016 £’000 £’000 On bank loans, overdrafts and other loans: 78 - 78 - On finance leases 30 - [Unwinding of discounts in relation to…] * Net interest on defined pension liability (note 25) - - Total 108 - *[Include additional lines for items such as the unwinding of discounts of provisions where these are significant to the college] 11 Taxation – Group only 2017 2016 £’000 £’000 United Kingdom corporation tax at [xx] per cent 12 12 Provision for deferred corporation tax in the accounts of the subsidiary company - - Total 12 12 The members do not believe that the College was liable for any corporation tax arising out of its activities during either year. The tax charge relates to its trading subsidiary companies. [The taxation note here has been drafted on the assumption that taxation is not material or complex. Section 29 of FRS 102 and the 2015 FE HE SORP require a reconciliation of the tax charge to the operating surplus multiplied by the applicable rate of tax. In addition may be circumstances where deferred tax is to be provided for – particularly around the unrealised gains on property revaluations – and appropriate professional advice should be sought.] 12 Tangible fixed assets (Group) Land and buildings Equipment Assets in the course of construction Total