Agenda item

Joint report of the Chamberlain and the Head of the City of London School.

The Board received a joint report of the Chamberlain and the Head that provided details of the net income for 2015/16 before transfers to reserves, which was £1.45 million compared to a budget position of £1.53 million representing a reduction in net income of £80,000 / 5%.

The Head added that additional teacher allowances of £47,000 had been agreed but were not budgeted and that the £20,000 on recruitment was not due to unexpectedly high staff turnover as suggested in the report, but due to the need to advertise several times for key posts including the Bursar. The £23,000 on unbudgeted maternity costs and the cost of an additional member of History staff for one term should be listed as one total cost of £37,000 on unbudgeted staff expenditure. In response to a Governor’s question, the Bursar advised that there was currently no bad debt.

RESOLVED – That the revenue outturn 2015/16 be noted.