Page 0034

34 City of Glasgow College Annual Report & Accounts 2019-20

Student Accommodation Service

The College operates 2 sites offering student accommodation.

One site is owned by the College and is located at the

Riverside campus. The other site is a rented accommodation

close to the Riverside campus. The aim is to deliver a high

quality and safe environment to students at competitive rental

and the College generate a surplus.

The vast majority of the surplus is generated by the College

accommodation:

Residencies 2019-20

£000's

2018-19

£000's

Income £1,627 £2,386

Exepnditure £1,340 £1,767

Surplus £287 £619

Catering Service

The College awarded a 6-year contract to Baxter Storey in

August 2020 after a competitive tender process. The tender

was awarded balancing the quality of food and service with

the cost of delivery. The aim within the tender was to deliver

a high-quality service and at no cost to the College. As the

College buildings were shut on 17th March 2020 due to the

COVID19 pandemic, there was a period of four and a half

months with no catering activity on campus in academic

session 2019-20, resulting in a deficit.

Catering 2019-20

£000's

2018-19

£000's

Income £1,366 £1,817

Exepnditure £1,490 £1,727

Surplus (£124) £90

Statement of Internal Control

The Board of Management is responsible for the College's

system of internal control and for reviewing its effectiveness.

Such a system is designed to manage rather than eliminate

risk of failure to achieve business objectives, and can

only provide reasonable, not absolute, assurance against

misstatement or loss.

The SMT receives regular reports setting out key performance

and risk indicators, and considers possible control issues

brought to their attention by early warning mechanisms

embedded with the operational units. Each Board Committee

regularly reviews the Risk Management Action Plans (Risk

MAPs) relating to the Strategic Risks within their areas of

responsibility.

The Audit Committee's role in internal control is confined to

a high-level review of the arrangements for internal financial

and other control systems. The Board agenda regularly

includes consideration of risk management and all reports to

the Board and its Committees must include a risk analysis.

The Board Committees all receive regular updates to the Risk

Management Action Plans for the strategic risks within their

areas of responsibility.

The SMT and a range of Board Committees receive regular

reports from our internal auditors, and health and safety

and environmental monitoring functions, which include

recommendations for improvement.

The Board has a process for identifying, evaluating and

managing the College's risks that has been in place for the

year ending 31 July 2020, up to the date of approval of

the annual report and accounts. This process is regularly

reviewed by the Board and accords with the internal control

guidance as applicable to the further education sector. The

system of internal financial control is based on a framework

of regular management information, financial regulations and

administrative procedures including the segregation of duties.

In particular, it includes:

• Comprehensive budgeting systems with an annual budget

approved by the Board

• Regular reviews by the Finance Committee of quarterly and

annual financial reports that indicate financial performance

against the forecasts

• Setting targets to measure financial and other performance

measures

• Procedures for the Board to review and agree the budgets

• Clearly defined capital investment control guidelines.

The College has an internal audit service, the focus of which

is on key activities determined by an analysis of the areas of

greatest risk and in accordance with the annual internal audit

plan approved by the Board.

The internal auditors report to the Audit Committee on a

regular basis and have direct access to the Chair of the Audit

and Assurance Committee.

The internal auditors have issued an annual report, which

gives an opinion of the adequacy, reliability and effectiveness

of the College's internal control system.

The Board's review of the effectiveness of the system of

internal financial control is thus conducted through the work of

the internal auditors, the Board, and the Audit and Assurance

Committee.

The Board of Management has also provided all information to

the External Auditors upon request.

The Board members who held office at the date of approval of

this report confirm that, to their knowledge, there is no relevant

audit information of which the College's auditors are unaware;

and each Board member has taken all necessary steps to be

aware of any relevant audit information and to establish the

auditors are aware of that information.

Estates Strategy

The College's Estates Strategy comprised the maintenance

and disposal of the existing estate, both overseen by the

Finance and Physical Resources Committee (see Finance and

Estates Section above).

Index

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