Agenda item

Joint report of the Chamberlain and the Headmaster of the City of London School (copy attached).

The Board received a joint report of the Chamberlain and the Headmaster of the City of London School comparing the 2011/12 revenue outturn for the City of London School with the final agreed budget for the year.

The Chamberlain summarised by reporting that this year had seen an increase in net income of £40,000 (due, in the main, to an increase in registration fee income) and that overall expenditure had been as budgeted.

A Governor commented that the accounts presented to the Board were not easy to read and it was suggested that, in future, they be presented in City’s Cash format with income detailed first followed by expenditure.

RECEIVED.