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
Income £1,627 £2,386
Exepnditure £1,340 £1,767
Surplus £287 £619
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.
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
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
• 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
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.
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).