ANNUAL REPORT 2009/10
JOHN SPINDLERVICE PRINCIPAL
(FINANCE & CORPORATE
DEVELOPMENT)
Development of Partnerships
• NEGM Colleges• Accrington and Rossendale College• RMBC• Business Partners• Outsourced marketing• Many others
Financial PerformanceIncome
• Income at record levels• Income rose from £23m to £27m• Increased SFA income - ex-RMBC activities• Growth in ALR/ER/ASL• 16 – 18 £13.4m• 19+ £4.3m• ER £3.3m
Income
Funding Bodies Breakdown
Learners
Financial PerformanceExpenditure
• Staff costs £16.7m• Restructuring costs £578k• Other costs £8.5m
Expenditure
Financial PerformanceSurplus/Deficit
• Surplus of £86k AFTER restructuring costs• Building write-offs of £670k• Progress towards 2% target
Efficiencies Programme
• Reduced annual payroll by £1m• Reduction of 55 posts• Regular consultation• Voluntary redundancies where possible
Resources
• New Technology Centre• Virtual PCs• Media Suite• Learning Resource Centres• Student spaces• Wi-Fi
Business Transformation
• Financial Impact of CSR• Reduce annual expenditure by £3.1m• Forecast achievement of 2% target
surplus• Continued efficiency drive