HARTLEPOOL COLLEGE OF FURTHER EDUCATION

Minutes of a meeting of the Finance & General Purposes Committee held on Thursday16thNovember 2017 in Conference Room 4 at 6.30pm

Present:

Mr M Ward
Mr P Mitchell
Mrs L Watson
Mr D Hankey

Also in attendance:

Mrs K Dales [Assistant Principal, Finance]
Mrs D Cassidy [Head of Division, Finance]
Mr A Theakston [Clerk to the Corporation]
Mrs E Hails [Minute Clerk]
1 / Apologies for absence
None.
2 / Declarations of Interest relevant to business of meeting
None.
3 / Minutes of previous meeting held on 4th July 2017
The minutes of the meeting held on 4thJuly were approved and signed by the Chairman.
4 / Matters arising and action points
There were no matters arising. All action points had been completed as follows:-
11 –Fidelity insurance has been increased.
12 – Cyber insurance does not cover any fines arising from a breach therefore this has not been pursued.
15 – Treasury Management Report –completed and on agenda.
5 / To consider the draft consolidated reports and financial statements for the period 1 August 2016 to 31 July 2017 for recommendation to the Board for approval
The report and accounts had been considered at length by the joint Audit and F&GP committee members and were recommended for approval to the Board.
6 / To consider the draft HBDC Ltd directors report and accounts for the period 1 August 2016 to 31 July 2017 for recommendation to the Board for approval
The report and accounts had been considered at length by the joint Audit and F&GP committee members and were recommended for approval to the Boardand also to the Board of HBDCL.
7 / To consider the letter of support from the College to the Company for recommendation to the Board for approval
Commercially sensitive.
8 / To consider a Treasury Management Report
Commercially sensitive.
9 / To consider for approval a report on governors’ expenditure for 2015/16
A schedule showing expenditure in respect of Governors (£58.67) and Executive (£78.60) was considered and unanimously approved by the committee.
10 / To consider the risk register and any risk issues to report to Audit Committee re:
  • Non achievement of contract income levels
  • Deterioration of financial health
  • Staffing performance issues
  • HBDCL
Commercially sensitive.
11 / To note subcontracting for 2015/16 and 2016/17 to date
Schedules for 2015/16 and 2016/17 subcontracting provision, which is now very small, was considered and approved by the committee for noting by the Corporation Board.
12 / To consider debts in excess of three months old
Commercially sensitive.
13 / To consider the ESFA Financial Health letter
14 / To consider the ESFA Early Intervention letter
Both of the above correspondence was considered at the joint Audit and Finance meeting earlier.
15 / Any other business
Thanks were relayed to D Cassidy and her team for such a clean set of accounts.
14 / To note the date and time of the next meeting as Wednesday 7thMarch 2018 at 17:30

………………………………………………..

Chairman

Action points from the meeting held on 16thNovember 2017

Minute / Action / By Whom / By When
8 / Graph in future management reports / KD/DC / March 18
8 / Meet with bank and produce report for board / KD / 29/11/17