Some facts regarding the financial state of Dearne Valley College and our Principal's salary
A recent report from the UCU research department (the state of Dearne Valley College and our Principals salary) indicates that:
1 - The operating surplus/(deficit), based on income & expenditure, before exceptional items, tax etc (T1.12a in LSC College Finance Records) is £552,000
2 - Money available in cash or things that can probably be turned into cash (stocks & stores in hand; short-term investments; and cash at bank & in hand – ie all of current assets except amounts owed by debtors; EXCLUDES ‘Restricted cash and short term investments from disposal of fixed assets and held for future fixed assets acquisitions’) is £3,126,000 3 - The current ratio (ie current assets divided by current liabilities – should be >1.0 to show short-term ability to pay debts) is 2.2 4 - The income and expenditure – or general – reserve, which is the part of the reserves which has built up over the years through accumulated operating surplus/(deficit); the reserve has then been used by the college for investment in assets, such as buildings and equipment, of which current assets forms the most ‘liquifiable’ part is £3,047,000 5 - These show the Principal’s salary in the most recent years (excludes other elements of payment, such as employer’s pension contribution and benefits in kind) (figures have been rounded to nearest £’000) - 2006-2007 it was £75,000 and from 2007-2008 it was £87,000 6 - This shows the % change in the Principal’s salary between 2006-7 and 2007-8 of 16%
7 - The £’000 change in the Principal’s salary between 2006-7 and 2007-8 is therefore £12, 000
Source: LSC College Finance Records; calculations by UCU
DVC UCU member's response to the AoC Pay Award recommendation suggest that some members felt that it should be accepted. However, at a recent National confernece meeting members voted overwhelmingly to reject it. There will now be a ballot!