48 City of Glasgow College Annual Report & Accounts 2019-20
Finance and Physical Resources Committee
The Finance and Physical Resources Committee of the
Board undertakes the Board of Management's approved
delegation in financial matters, and specifically the duties
of oversight assigned to the Committee on the Financial
Regulations. The Committee is also expected to provide
the Board with advice on significant financial matters, and to
review, approve, and monitor financial plans, strategies and
plans. The impact of significant proposals and strategies
are reviewed from a financial perspective, and any resultant
issues, including strategic risk, communicated to the Board.
Any recommendations emerging from this oversight are
also made via the Committee to the Board of Management.
The Committee also holds responsibility for the oversight
of physical resources, including the College estates, and of
Health and Safety, for which it receives regular reports (see
Health and Safety below).
Following the outbreak of Covid-19, and the consequent
financial impacts, the financial plan for 1 August 2019 to
31 July 2020 was reviewed continuously. The significant
negative impact for the College, particularly due to the high
level of non-SFC income via commercial and international
activity, unusual in the sector, was recognised by the
An updated forecast reflecting the impact of the Covid-19
crisis was made during April 2020 which forecast a deficit
of £4.011k. A revised forecast was produced during May,
which projected a smaller deficit of £1.441k to 31 July
2020. This improved situation reflected the following: a
higher proportion of courses being taught online which has
increased the projected fee income; the decision to furlough
staff and claim funds via the government Coronavirus
Job Retention Scheme; and additional agreement from
the SFC to pay their element of ESF in full. The final
deficit figure of just over £360k for 2019-20 represents a
successful management of the year's finances under the
Long Term Financial Planning
The Committee received an updated 5-year financial
forecast for the College, which illustrates projections
based upon sets of optimistic, realistic and pessimistic
assumptions. The implications of all assumptions were
noted and the need to continuously monitor the ongoing
financial challenges and consider efficiency savings where
necessary were highlighted. However, all long-term financial
planning was superseded by the Covid-19 crisis, and all
finance-related strategic risks were re-evaluated in the
context of the crisis.
The Committee reviewed and approved the revised
Financial Regulations which included improved protocols
and controls, with other elements updated. Revisions
covered the areas of Budget Preparation and Monitoring,
Fraud Prevention, Scheme of Delegation/Financial
Authorities, Payment of Invoices/Purchase Procedure, and
In 2019, a full review and redevelopment of the College's
Business Continuity strategy was undertaken, with
assistance from specialist consultants Ashton Resilience.
In the course of this review, a new Business Continuity
Policy was recommended, to provide a clear, concise policy
framework for all business continuity management at City of
Glasgow College. The Committee approved the new Policy
in October 2019.
The consultant from Ashton attended a meeting of FPRC in
February 2020 to outline the process of development of the
Business Recovery Plans for all Faculties and other areas
of College activity. In February 2020 a scenario exercise
was planned for April 2010. However, this exercise was
overtaken by events, for which the BCP planning clearly
prepared the College, assisting resilience and agility of
response to the Covid-19 crisis.
The Committee were provided with reports on the
development and operational performance of ICT delivery.
In particular, the Committee welcomed the achievement
of the Cyberessentials Plus standard, which had been a
priority from 2018-19.
Health and Safety
The Committee reviewed and approved the Health and
Safety Quarterly Reports, and noted the activities of the
reinvigorated Health and Safety Committee, under the
leadership of the Depute Principal. The following points
• The delivery of relevant statutory training provision
is ongoing with particular emphasis on IOSH 'Managing
Safely' training being provided for senior staff.
College Strategic Priority 7:
To maintain our long-term financial stability.
College Strategic Priority 8:
To secure diversity of income and