Agenda item

A commentary covering the main year on year variances contained within the Annual Financial Return


The Committee considered a Report concerning the commentary on variances.


Noting that the narrative in the commentary was fuller in last year’s return, Members asked officers to expand on the narrative in the commentary for this year’s iteration.


The Chairman pointed out that the details for the grant listed on page 85 should be amended as this was not a Research England grant.


The Chairman queried the wording ‘…. while maintaining the highest possible academic

Standards’ and suggested that this should be amended to give greater emphasis to the quality of provision.


The Chairman queried the wording ‘….sweating our assets’, he suggested that ‘making optimal use of our assets’ would be more appropriate.


The Chairman was concerned that the last sentence in comment 3 on page 87 (of the agenda pack), namely; ‘we are also working closely with colleagues in the City of London to ensure that they are aware of the risks, including the potential need to reduce our footprint in the event that we cannot generate sufficient revenues going forwards’.. was too negative and did not give enough emphasis to the School’s primary aim of protecting quality and numbers.


RESOLVED – that the Committee endorsed the commentary to the Board.


Supporting documents: