Annual Report for 2015 - Financial Position

Financial Position

The reduction in student numbers had an obvious effect on our budget. In addition other factors such as the failure to sell our St Helens campus and difficulties with our new accounting package have continued to give us problems. (At the time of writing we thank our God that St Helen’s campus has sold in 2016)

The Board instructed that our fees should be increased each year above the CPI until 2019 and that there would be a closer watch on spending and stricter cap on fee assistance. We have also had to look for other ways of cutting costs as well as obtaining additional funds e.g. through community grants.

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