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