FOI: What we spend and how we spend It
This section includes financial information relating to projected and actual income and expenditure, procurement matters, contracts and financial audit. However, information that might damage the College's commercial interest will be excluded from publication.
Financial information for the current and previous two (or more) financial years is available as described below. Information for earlier years is available on application to the Senior Bursar.
A charge of 20p per sheet may be levied to cover the cost of photocopying.
Funding and income
The income of the College derives from College fees, rents and charges to senior and junior members, conference receipts, the College's investment portfolio, and other property, donations, legacies and Gift Aid receipts. The income and expenditure of the College is described in further detail in the College Accounts.
The College's investment portfolio is kept under review by the Investments Committee, which reports through the Finance and General Purposes Committee to the Governing Body.
Applications for further information should be made to the Senior Bursar.
Ethical Investment Policy
The College's investment managers are expected to avoid involvement in organisations that clearly ignore responsible standards in dealing with, inter alia, employees, the environment, and the communities in which they operate.
The Investments Committee reviews all individual investment transactions at its regular meetings with the opportunity, and authority, to make any changes it feels appropriate.
The Governing Body sets its budgets in the Easter Term for the following academic year, based on the advice of the Finance and General Purposes Committee. The budgets are monitored and reviewed regularly against predicted outcomes.
Financial Audit Reports
Copies of the independent auditors' annual reports for the Governing Body are included in the College Accounts.
The College does not routinely need to prepare a capital programmes but one may be developed by the Governing Body as the need arises and as funds allow. Such plans are developed on the advice of the Senior Bursar, and the Finance and General Purposes Committee. Applications for further information will be dealt with on request.
Financial regulations and procedures
The Senior Bursar is responsible to the Governing Body for financial and investment matters. The Finance and General Purposes Committee advises the Governing Body on financial policy, estimates, and financial performance. Day to day financial decisions are delegated to Heads of Department in respect of procurement, human resources, and budgetary control.
Staff pay, allowances and expenses
The College's salaries are determined by the Governing Body and take account of market conditions and what is affordable by the College. Details of emoluments made can be found in the Annual Accounts under staff costs.
Register of suppliers
The College does not formally maintain an approved list of suppliers, but in order to ensure the best value engages in various purchasing consortium arrangements, as well as using specialist local suppliers.
Procurement and tender procedures and reports
The College is not a public authority for the purposes of European Law relating to tendering requirements. Its normal practice in relation to major capital works is to procure them through a tendering process.
The College does not publish details of commercial contracts.