Finance Report 4th October 2017 Sharon Kane Qtr 4 position to draft year end Kitchen Cashflow Meal Numbers School Fund Year End

Qtr 4 Position Revenue Budget Income Figures are based up to 31st August 2017 and upto date accruals. Income to date is at 99.9% overall based on forecasted budget at qtr 3. Extra income will be paid in for the trading surplus and this will be confirmed by Duncan and Toplis once all tax implications have been considered. I am predicting this to be £33k The attached spreadsheet shows the income in different areas. Overall the Academy, to date, has received £2392K, excluding the £33k trading suprlus

Qtr 4 Position Revenue Budget Expenditure Figures are based up to 31st August 2017 with accruals. There may be additional accruals which D&T and Governors will confirm before sign of the statutory accounts The above figures include an accrual for honorarium payments and will be confirmed based on Performance Management meetings and pay committee agreements. Expenditure is 94.7% based on the forecast with a 5.3% tolerance. This is in line with last year, again we highlighted to staff that, unless it was essential expenditure , it was not to be spent . Tighter planning and budgeting will be used going forward, however it is imperative that the impact on students is not detrimental. Staff have taken this on board and it has put us in a stronger position going forward. A number of factors within staffing have meant that we have a tolerance of 2.4% within the teaching budget. The agency supply is significantly higher than last year, to support the accounts I have included a full TB to show the differences in expenditure for discussion. The areas brought forward to the 16.17 budget included £14k for ICT fiberoptic upgrade and £11K for building improvements to ensure contingency for the roofing project. The project went over by £12k but this was to do with the ICT fiberoptic spend so we can utilise the £11k for ICT refurbishment of one of our ICT suites in 17.18 The attached spreadsheet shows the expenditure in different areas As predicated we are showing an in year deficit of £108K against £38K last year. However this result has come in much less than previously predicted at the start of the year when we showed £193K deficit. This is due to careful monitoring of spend. The Carry forward revenue figure is circa £284K excluding the £33k trading and salix balance. The Current in year deficit for 17/18 stands at £48k and a reforecast will be undertaken in Qtr 1 in light of staffing changes not known at time of planning.

Qtr 4 Position Capital Expenditure To support the capital report, attached is a spreadsheet showing building projects. The lease agreement is now signed and will be added to our accounts this year. The net book value for Fixed assets is £31k with net buildings predicted at £2227K, however this does not include the building element yet. This will be confirmed by D&T B/fwd capital is £0 as we have spent all our allocations for 16/17. Salix loan £39K liability which we will pay over £6k each so can use the balance for c/flow purpose if required. The Actuary report shows that the pension liability has decreased from £974K to £898K. D&T have confirmed the pattern in all their schools. See attached the report for your information

QTR 4 Monitoring Report Attached Qtr 4 Budget Monitor Rept.xlsx Attached is the Qtr 4 spreadsheet Attached is the Capital spreadsheet Attached is the Actuary Report Attached is Yr comparison Attached is the TB comparison

Trading account Attached is the spreadsheet showing the income and expenditure for the trading account. Currently we have a surplus of £33K, which can be gifted back to SPA. TAX and VAT do need consideration, therefore I will not know the final figure until D&T have concluded the statutory accounts. I had predicted £32.5k.

Kitchen Cashflow The Kitchen has a surplus of £17k in comparison to £26K last year. The surplus made in trading was £16.5k, therefore costs for SPA are being supported by trading. This equates to the amount spent on new equipment for the kitchen totalling £6.6K Provision costs were £69K against £79k, the increase in expenditure is explained by the increase in the amount of food per plate, higher quality food and the increase in grab bags across all schools, this costs more to produce than a cooked meal. Breakdown of trading is as follows Meal numbers are up for the summer term in all schools with the exception of St Swithuns. This is as a result of a very high update the previous year from the year 4’s which are now are year 5’s in 1617. SPA are up by 2.8%, LB 2.9% MT 2% and St S down by 16% Maple Tree Laburnum St Swithuns Income 46025 37886.77 38420.87 122333 Expenditure Staffing 23206 17707 17046 57959 Provsions 14573 13185 40942 Energy 2500 1594 5688 Van 368 1103 Total 40646 32853 32193 105692 Surplus 5380 5034 6228 16641

Kitchen Reports Attached are the reports for the kitchen Cashflow year end Meal numbers Summer 17

School Fund Attached is the Balance sheet for the School fund. Most trips made a small surplus with the exception of French trip and horrible history but both immaterial and other trips cover the cost.