23rd May

APOLOGIES FOR ABSENCE 

Apologies were received and accepted from BB, KB and LF.

DECLARATION OF INTERESTS              

Governors noted the standing declarations:

- JM is also Executive Head at Portfield and Seal Primary Academies.

- HE clerks at other TKAT, SCC and HCC schools.

- GC is Chair of the LGBs of TKAT South and Bridgemary School.

 No interest was declared in any interest in specific agenda item.

2017/18 BUDGET & 5 YEAR FORECAST

HH presented the detailed revenue budget for 2017/18 and 5 year summary revenue and capital forecast budgets, Attachments 1 & 2.

HH explained that the budgets presented met TKAT’s requirement to maintain a surplus of 7.5% of GAG, GAG being £2,011,476.

Q: What sum was actually needed?

A: Just over £150,000.

Q: Had staffing issues been resolved for September?

A: JM explained that 2 NQTs had just been appointed for September and one senior teacher was leaving.  Existing staff would be redirected as required; they hoped to use some of the savings to appoint another learning mentor.

Q: What were perceived to be the main budgetary risks?

A: Power – the actual savings from the installation of the solar panels were uncertain; Supply – last year £40,000 was spent but only £35,000 had been budgeted.

Q: Was funding for classroom spending maintained?

A: JM explained that this was reduced from £35,000 to £30,000 but he believed that this was adequate to support the two-year rolling curriculum plan.

9.40am JMcC joined the meeting

HH said that the outlook for income from the Nursery was positive as 30hrs government funding was coming in: summer term income was uncertain but had been forecast to equal that from the autumn term but should, in fact, be more as the term was longer.

Q: Was there any flexibility regarding TKAT’s 7.5% surplus requirement and when might this be used?

A: JM said that he thought that they could break in to this if they needed to but that they would then be require to rebuild it. 

It was suggested that this might reasonably be seen as a ‘contingency’ line in the budget.

Q: Was there a line in the budget for school improvement?
A: No; school improvement related expenditure was spread over various cost centres and was largely in Staffing and Curriculum.

Governors discussed TKAT’s requirements regarding budget setting, authorisation of virements and budget revisions.  GC explained that he was not in favour of budget revisions; he preferred to see actual spend reported against the original budget with an explanation of any significant variances or virements.  HH and JM confirmed that governors were informed of virements proposed during the year.

Q: Were there better uses for the £30,000 planned to be transferred to capital in 2019/20?
A: JM agreed that there might be and that this would be reviewed when setting future budgets.

Governors approved the revenue 2017/18 budget and 5 year forecast revenue and capital budgets as proposed. 2017/18 revenue budget summary below, details in Attachments 1 & 2.

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