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Minutes of the meeting of General Assembly held on 14 March
2007
Present: 19
members signed the attendance list.
1. Minutes
The Minutes of the sixty-eighth meeting of the General
Assembly held on 16 March 2005 were accepted as a true record.
2. Matters
Arising
There were no matters arising.
3. Vice-Chancellor’s
Report
The Vice-Chancellor began her report by commenting on the
incident that took place in the Students’ Union on 10th March
2007. The Vice-Chancellor thanked all of those involved in the response to
these events.
The Vice-Chancellor continued with an update on the
University Strategy, noting that the high level University Strategy had been approved
by Council in December 2006 and that detailed implementation plans would be
presented to Council in July 2007.
It was noted that the Strategy continued to build on the
University’s distinctive strengths; the student experience, employer
engagement, first rate research, its links with industry, world class sport,
the campus and its location and the mutual respect across staff and student
groups.
The vision for 2016 is for
It is important that both staff and students feel part of
the new strategy, and that we continue to understand what makes
The Deputy Vice-Chancellor then reported further on the Research,
Teaching and Learning Enterprise Strategy, emphasising the importance of
synergistic activities. He commented on the changing context of higher
education, highlighting the issues of tuition fees, widening participation,
employer engagement and an increasingly trans-global sector in which all
students were now international.
Action points were then outlined, focusing on the
opportunities to develop new subject areas as well further investment into the
campus.
The importance of research in the context of income to the
University was stressed, with reference made to the importance of the upcoming
2008 RAE. It was also noted that increased levels of income were being
generated through links to industry.
It was noted that the long term aim is for Loughborough to
be in the top ten of
The Deputy Vice-Chancellor then stressed the need to
continually review how we achieve the Strategy. Examples were given of further
development in the campus including the East Park Development, the Science Park
Development and the Sports Technology Institute.
In response to a question from a member, it was noted that
long term development and planning would continue to improve the look of the
campus.
The Vice-Chancellor invited comments regarding the Strategy
to either senior management or Fidelma Hannah.
4. University
Financial Position
The Finance Director presented the University’s
current financial position.
It was noted that a £5.9 million surplus had been generated
during the previous financial year, representing 3.55% of total income. Pay
costs have increased by 5.6% before FRS17 adjustments. The sale of houses on
It was reported that there had been an £18.4 million
reduction in gross debt, as part of debt restructuring, and there had been a
2.6% reduction in interest costs. It was also noted that there had been a £32.9
million investment in fixed assets which had contributed to an improvement of
the campus.
The Vice-Chancellor noted that the University held a strong
financial position within the sector.
The Finance Director confirmed that the HEFCE settlement for
the 2007/08 academic year had been published and would be made available to
members of General Assembly.
A number of questions were raised regarding both investments
on campus buildings and the off campus housing. It was noted that full and
frank discussions were held on these issues by the Estates Management
Committee.
5. Any Other Business
There were no
other items of business.
6. Date of Next Meeting
To be
confirmed.
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Author: M Lister
Date: 15 March 2007
Copyright
© Loughborough University.