Finance Report 8th January 2018 Sharon Kane Qtr 1 position Trading Account Kitchen Cashflow Meal Numbers

Qtr 1 Position Revenue Budget Income Attached are the figures for Qtr 1 budget position. Figures are based up to 30th November 2017. The B/fwd Figures are confirmed with Duncan and Toplis and agreed back to SPA systems. I have agreed all year end accounts to our system. As a result of the trading income the b/fwd figure has increased to circa £313k and we can also use the salix loan balance of £39Kfor budget purpose, however I have not as this is a liability owed by the Academy with 6 years left to pay. 16/17 Accounts have been submitted to the EFA via their hub system. Income to date overall is based on forecasted budget at qtr 1 and is 25.07% against 23.88% last year. This is as a result of an accrual for LA income, relating to statement changes and this will decrease once the LA do their April adjustments. We await income for Pupil Premium which we have not accrued for this quarter. Local Authority income is at 52.47% due to the timings that money is received. Trading income to be “gifted” back at year end. PE Grant exceeds what was originally forecast. The attached spreadsheets shows the & income in different areas. A total reforecast of the budget is required and this will be undertaken in Qtr 2 due to the variation of pupil numbers and the indications that pupils may leave us at the end of year 6 and 7. This will need to factor potential staff cuts. Early indications show that we are on target to receive the budgeted income.

Qtr 1 Position Revenue and Capital Budget Expenditure Figures are based up to 30th November 2017 with accruals. A reforecast of the budget will take place in January with the need to look at all areas of spend. Expenditure is 25.27% against 29.71% last year. There are a number of budget lines that are front loaded and my monitoring shows we are on track to achieve our current budget. The attached spreadsheet shows the expenditure in different areas Reforecast of the staffing budget will take place and this will include the implemented recommendations from the pay committee. This work is already underway but there is a need to work deeper in this area and this will be available in Qtr 2. I am working closely with Kim and Michael in this regard. The Carry forward figure is circa £271K, which includes last years figure of £313K. This means we are already using our reserves so we need to ensure we reduce expenditure where we can without compromising on the outcomes for children. Qtr 1 shows £11K purchase of fixed assets which was the planned upgrade of ICT3.

Trading Account Qtr 1 Figures are based to 30th November 2017 Reforecast of the trading has taken into account the recharge for Heads salary, however it is an in and an out so does not affect the bottom line figure. The wrap around club is not profitable and we are loosing money. Consideration must be taken into account if we are to continue to offer this service. The parents do not seem to require childcare at this age range and for those that do, I suggest February half term as the notice period to those that do use the service. 29.19% income against 24% last year with 19.5% against 21% expenditure last year. A predicted surplus of £29K to be gifted back. The changes that are happening i.e the shared head arrangements impacts on this account and the main accounts hench the need to reforecast with consideration for restructuring areas of the Academy

QTR 1 Monitoring Report Qtr 1 Budget Monitor Rept.xlsx Attached is the Qtr 1 spreadsheet Attached is the trading budget and workings

Kitchen Cashflow The Kitchen is showing a predicted surplus of circa £16K based on assumptions and performance last year. Qtr 1 last year showed £20K. This quickly changed due to the increase in provision. We are currently on track to achieve the £16k figure Meal numbers at SPA are down by 1.6% on this time last year. I attach comprehensive meal uptake reports for the lower schools meal numbers. Meal numbers are down in Laburnum at 7.27%, Helen is to meet SK in the new year to look at this closely. St Swithuns is steady with a slight drop of .5% with Maple Tree preforming well at 5.5%.

Kitchen Reports Attached are the reports for the kitchen Cashflow Qtr 1 Meal numbers Autumn 17