Rosemead Budget Presentation Financial Year 2017-18 Gavin Knott (Treasurer)

Introduction History. Aim to achieve 8 -10% surplus and refurbish school 2012-13 = 312k (9.5%) -------(Mansard Roof) 2013-14 = £392k (10.5%) --- (Year 5) 2014-15 = £428k (11.4%) ----(Year 4) 2015-16 = £338k (8.83%) ----(Year 3 + EC) 2016-17*= £387k (9.37%) ---(EC Frontage) 2017-18 = £436k (10.29%) – (EC new entrance) *Current year Based on Actual (Autumn/Spring) + Summer Budget – NB School Roll increases in Summer Term.

Budget Overview

Revenue Revenue up by 4.4% ‘Additional Income’ stable (54k/54k) Improving Roll (365) Fee Increase (4%) ‘Additional Income’ stable (54k/54k) Arising from Retained provision for Bursaries (2.5% of Fee income) Reduction in ‘additional nursery’ fee reflecting more flexible session options.

Staff Costs Teaching Staff ?% uplift + incremental changes Overall Increase (tbc) 17/18 Under review Staffing Plan being finalised ?% uplift + incremental changes Awaiting board decision Budget to be revised to reflect changes.

Educational Costs Spending on school resources has been increased in line with inflation *Increase in 2013-14 reflects new charges for Disbursements (previously as income) Increase in ICT spend to reflect school roll and iPad/Chrome book rollout Teacher Resources - spending controlled by Headmaster to be confirmed

Premises Increased Maintenance budget to reflect increased non Capital activity. EG: EC internal reconfiguration EC Staffroom/Enrichment Inflationary increase on Insurance

Office and Administration Inflationary increases applied Allowance for 3Sys licence and ongoing development Recurring fee for Maths Whizz included

Catering and Other Two of the school loans are now no longer Fixed and interest savings are reflected. Catering uplift plus increase for additional school roll Professional Fees Retained to reflect level of ongoing development Depreciation increased to reflect Accounts

Summary Balanced Budget Revenue is increasing 2.6% after allowing for a reduced Roll and fee increase. Expenditure increase has been held almost at previous year level. Surplus 9.19% indicated, reflecting 8-10% target. Continued Investment in Staff and Educational Resources Cash-flow to be finalised No issues expected. Allowance to be made for major CapEx works next year. Completion of EC Frontage Planning application and development of new Main Entrance Associated internal reconfigurations TPR Kitchen Refurbishment