tiffin boys' finances
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tiffin boys' finances
I'm trying to start a new thread on this very important subject, because we need real information as the school hasn't provided much. Please can people avoid posts that are likely to get this thread locked!
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A constructive PM from a Forum member tells me that there will be a meeting this Wednesday evening between the new (acting) Head, the governors and the parents of Tiffin.
The aim of it is apparently to answer the questions regarding the recent financial issue.
Hopefully that will result in some positive news.
Sally-Anne
The aim of it is apparently to answer the questions regarding the recent financial issue.
Hopefully that will result in some positive news.
Sally-Anne
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The chair of governors spoke very well, eloquently and honestly. It seems the financial situation is not as bad as described in the press but the school was spending beyond its means and if it continued then the projected deficit would be 50,000 at the end of financial year. The government had reduced its support grant approximately 3 years ago but the school did not then tighten its belt acordingly but rather dipped into its reserves culminating in the financial situation we see toady. This problem would be less apparent if more parents had increased their voluntary contributions to 520 level sooner and if the finance officer responsible had sorted the arrangements to change from standing order to direct debit payments quicker. RBK has be very supportive and will loan the school the money with interest for a period of two years. They are doing this because they recognise the important contribution that Tiffin makes through its excellent outreach work to help neighbouring schools. Tiffin is not the"gated community" as some mischieviously allege, which no doubt done to foster social emnity.
I too thought Lester and Cox did a good job of calming things down and I was encouraged by some of the things said. I was particularly taken with Cox and it seems that she will ensure the voluntary contributions will go in future on items additional to teaching. There can be little suprise about this as this is what happens at Tiffin Girls.
I was a little worried that many would have taken away the message that the crisis was Kingston's/the governments fault for reducing the resources available to Tiffin. This impression could have been gained from a graph that was at the heart of the presentation.
So to be clear - from the schools own published accounts - the annual grant maintenance grant received from public funds has been:
2003 - £3.2mn
2004 - £3.7mn
2005 - £3.9mn
The school then stopped distributining Accounts.
The equivalents figures for total income were:
2003 - £4.6mn
2004 - £6.4mn
2005 - £6.4mn
The large discrepancy between grant and total income in the latter two years is accounted for by the capital grants for the Dempsey Centre and the increase in transfers from Voluntary Contributions. These total:
2003 - £0.6mn
2004 - £1.8mn
2005 - £1.6mn
If you exclude these variable incomes then school income rose as follows:
2003 - £4.0mn
2004 - £4.6mn
2005 - £4.8mn
I would urge the school to reconsider its presentation.
I was a little worried that many would have taken away the message that the crisis was Kingston's/the governments fault for reducing the resources available to Tiffin. This impression could have been gained from a graph that was at the heart of the presentation.
So to be clear - from the schools own published accounts - the annual grant maintenance grant received from public funds has been:
2003 - £3.2mn
2004 - £3.7mn
2005 - £3.9mn
The school then stopped distributining Accounts.
The equivalents figures for total income were:
2003 - £4.6mn
2004 - £6.4mn
2005 - £6.4mn
The large discrepancy between grant and total income in the latter two years is accounted for by the capital grants for the Dempsey Centre and the increase in transfers from Voluntary Contributions. These total:
2003 - £0.6mn
2004 - £1.8mn
2005 - £1.6mn
If you exclude these variable incomes then school income rose as follows:
2003 - £4.0mn
2004 - £4.6mn
2005 - £4.8mn
I would urge the school to reconsider its presentation.
Further to my above post I have obtained additional figures for the Annual Maintenance Grant for 2006 to 2008 from the Kingston web site from their "Fair Funding for schools statements":
2003 - £3.2mn Accounts
2004 - £3.7mn Accounts
2005 - £3.9mn Accounts
2006 - £4.0mn FFSS
2007 - £4.3mn FFSS
2008 - £4.6mn FFSS
This represents a five year increase of 44% which works out as an average increase of between 7 and 8%
I think we can conclude it is not local or central government's fault!
2003 - £3.2mn Accounts
2004 - £3.7mn Accounts
2005 - £3.9mn Accounts
2006 - £4.0mn FFSS
2007 - £4.3mn FFSS
2008 - £4.6mn FFSS
This represents a five year increase of 44% which works out as an average increase of between 7 and 8%
I think we can conclude it is not local or central government's fault!