Agenda and minutes

Apologies for absence were received from Nicholas Goddard, Alderman Tim Hailes, Clare James, Vivienne Littlechild, Hugh Morris, Deputy Elizabeth Rogula, Ian Seaton, and Cllr Chris Townsend.

There were none.

To agree the public minutes and summary of the meeting held on 20 June 2016.

RESOLVED – That the public minutes and non-public summary of the meeting held on 20 June 2016 be approved, subject to the addition of apologies for absence from Deputy John Bennett and Gillian Yarrow.

Report of the Chamberlain.

The Board considered a report of the Chamberlain regarding the Charities administered in connection with the City of London Freemen’s School and an opportunity to consider whether part of the cash balance should be invested in the City of London Charities Pool.

In response to Governors’ questions, the Chamberlain advised that the current balance of the City of London Charities Pool was approximately £21 million and the Bursar advised that donations towards bursaries from Livery companies were not included as they were held in a separate fund. The Chamberlain added that he would check whether the Charities Pool funds were measured against all equities and clarify for Governors.

RESOLVED – That:-

a)    the annual report and financial statements for the Charities administered in connection with the City of London Freemen’s School be noted; and

b)    authority be delegated to the Town Clerk, in consultation with the Chairman and Deputy Chairman of the Board, to consider whether to invest part of the cash balance in the City of London Charities Pool.

Report of the Chamberlain.

The Board considered a report of the Chamberlain regarding the City of London Freemen’s School Bursary Fund and an opportunity to consider whether part of the cash balance should be invested in the City of London Charities Pool.

RESOLVED – That:-

a)    the annual report and financial statements for the City of London Freemen’s School Bursary Fund be noted; and

b)    authority be delegated to the Town Clerk, in consultation with the Chairman and Deputy Chairman of the Board, to consider whether to invest part of the cash balance in the City of London Charities Pool.

Joint report of the Chamberlain and the Headmaster.

The Board received a joint report of the Headmaster and the Chamberlain that provided details revenue outturn for 2015/16. Governors noted that the net income for 2015/16, before transfers to reserves, was £2.32 million compared to a budgeted position of £2.39 million, which represented a reduction in net income of £73,000 (3%). The Chamberlain added that the total School funds as at 31 March 2016 had increased by £957,257 since the previous year. Governors also noted that there was an error with the income and expenditure in the Analysis of Service Expenditure table in the report which would be corrected by the Chamberlain and re-circulated.

In response to a question from the Chairman, the Headmaster advised that the amount of money spent on scholarships would gradually decrease as fewer scholarships were being provided. Instead, gifted/talented children from less wealthy families would be encouraged to take the entrance exam and apply for bursaries.

In response to a Governor’s question regarding the Freedom application process, the Chairman advised that the School’s foundation charity fund received £30 of each £100 application fee, as agreed by the Finance Committee during the 00s. Governors also noted that Freemen should know the applicant personally if supporting his/her Freedom application.

RESOLVED – That the Revenue Outturn for 2015/16 be noted.

There were none.

There was none.

MOTION - That under Section 100A(4) of the Local Government Act 1972, the public be excluded from the meeting for the following items of business on the grounds that they involve the likely disclosure of exempt information as defined in Part I of Schedule 12A of the Local Government Act.

RESOLVED – That, under Section 100(A) of the Local Government Act 1972, the public be excluded from the meeting for the following items on the grounds that they involve the likely disclosure of exempt information as defined in Part I of Section 12A if the Local Government Act.

To agree the non-public minutes of the Board of Governors meeting held on 20 June 2016.

RESOLVED – That the non-public minutes of the meeting held on 20 June 2016 be approved.

To note the non-public minutes of the Masterplan Forum meeting held on 21 July 2016.

RESOLVED – That the non-public minutes of the meeting held on 21 July 2016 be noted.

Report of the Headmaster.

The Board considered a report of the Headmaster that provided updates regarding matters relating to the School’s operational activities. The Board also gave close scrutiny to the Safeguarding Policy that had been updated in accordance with the Government’s recent Keeping Children Safe in Education update.

RESOLVED – That the Headmaster’s report be noted.

Joint report of the Headmaster and the City Surveyor.

The Board considered a joint report of the Headmaster and the City Surveyor that sought approval to the progression of the Freemen’s School Main House works to Gateway 4.

Report of the Headmaster.

The Board received a report of the Headmaster that provided an overview of news and events in the Junior School since the last meeting.

RESOLVED – That the Head of Junior School’s Report be noted.

Report of the Headmaster.

The Board received a report of the Headmaster that provided an update regarding finance, estates and arrears of fees, amongst other matters.

RESOLVED – That the Bursar’s report be noted.

There were none.

The Chairman advised Governors that the next Board meeting would be taking place at 10:30am on Tuesday 29 November 2016.

Report of the Director of Human Resources.

This item was deferred to a later Board meeting.