General
Assembly
GA09-M1
______________________________________________________________________
Minutes
of the meeting of General Assembly held on 11 March 2009
Present: 14 members signed the
attendance list
1. Minutes
The
Minutes of General Assembly held on 27 February 2008 were accepted as a true
record.
2. Matters Arising
There
were no matters arising.
3. Vice-Chancellor’s
Report
The
Vice-Chancellor began by welcoming Caroline Walker who had been appointed as
the new Director of Finance since the last meeting.
The
Vice-Chancellor and Deputy Vice-Chancellor then reported on current University matters
and progress on the implementation of the University Strategy.
It
was noted that the University had been awarded a 6th Queen’s
Anniversary Prize. A significant achievement equalled only by the
It
was reported that there had been a high response rate (65%) to the Staff Survey
and that 90%+ of respondents had stated that the University was a good place to
work. In response to these results, the University would not be complacent and a
series of groups, led by Senior Management, would address identified areas for
improvement. A follow up survey would be undertaken towards the end of 2010.
The
Vice-Chancellor then commented on recent notable achievements by the current
Loughborough student body, including further BUSA success; £1million + raised
by RAG as well as significant levels of voluntary work undertaken in the local
community.
The
success of current and former Loughborough students at Beijing 2008 was also
noted.
It
was reported that the University would be hosting two centenary degree ceremonies
in the summer to award Honorary Degrees to those that had studied at Loughborough prior
to 1966. 1000 attendees are expected from all of the
world, with 250 alumni re-establishing contact with the University.
The
recent completion of the HEBS (
The
University had been named the
The
Deputy Vice-Chancellor reported on the Car Park 7 development, noting that upon
completion 1300 new student rooms would increase capacity on campus. Large
scale renovations of a number of other halls would also be taking place,
leading to much improved facilities across campus.
A
hydrogen refuelling station had also been opened on campus, reflecting the
University’s commitment to providing a green environment on campus, as
well as the leading role it was playing in the development and research of
renewable and sustainable energy.
It
was reported that a
The
Deputy Vice-Chancellor continued with an update on the RAE 2008 outcomes.
Loughborough had done very well in this exercise with a high proportion of
research undertaken being judged as world leading. Loughborough had been
awarded an additional £6million funding as a result of the exercise thus reducing
the teaching/research funding ratios and bringing the University into line with
other pre 1992 institutions. This additional funding would impact on the
Strategic Plan moving forward, assisting the University as it invested in the
future. It was noted that planning had already begun for the Research
Excellence Framework scheduled for 2011.
4. University Financial
Position
The
Director of Finance reported on the University’s current financial position.
It
was reported that the University was in good financial health.
In
2007/08 financial year the University generated a surplus of £7million, which compared
favourably with other HEIs in the sector.
For
2008/09 a £3.8million surplus was planned to reflect the current economy.
Following a half year report, it was noted that the University was on target to
achieve this.
It
was noted that the University had faced rising energy costs totalling £3million
to the year ending July and expected these costs to increase a further
£4million for the current year. In addition a higher pay settlement of 5% and
contributed to increased costs. The HEFCE grant received had not risen at the
same rate as expenditure.
Additional
income received as a result of the RAE was good news,
however the University would spend this money carefully.
It
was noted that the ‘Silver Scenario’ will take the University
through to 2016 and would incorporate large areas of development, both academic
and residential. This includes the £300million investment in the planned
It
was noted that in the current economic climate, securing the financial security
of the University would be a challenge, however it was
starting from a sound base and should be confident of success.
5.
Any Other Business
There
were no other items of business.
6.
Date of Next Meeting
To
be confirmed.
___________________________________________________________________________
Author: Mark
Lister
Date: 27th
March 2009
Copyright © Loughborough University.