Here you'll find updates from the Board of Trustees, these are summaries of the discussions rather than minutes. Some items are confidential to indviduals, to protect the privacy of those individuals we don't share information about them. There may also be times whereby there are confidential conversations relating to commercial activity, again this information wont be shared.
Minutes from last time were approved
Matters arising were noted
Sub-committee updates were noted for Audit & Risk: main focus on Audited Accounts
Audited Accounts:
Audited Accounts are documents that outline the income and expenditure of the SU. It provides insight into what we spent money on last year.
Approved! A massive shout out to Michelle as there were no recommendations at all to the SU (this is unheard of for most charities!) Massive congrats to Mick for all of her hard work. There will be a presentation on finances coming soon where I'll talk everyone through block grant, budget, pensions, and audited accounts.
The next step is for the University to receive the accounts Resources and Performance Committee (as per the Education Act 1994 required), following that the accounts will be formally 'signed' as in actually signed. Then uploaded to our website, Companies House, and Charity Commission website. All ready for November 2024 presentation at AGM.
Going Concern
Going Concern is the 'thumbs up' from the Board that it believes the SU will continue to be operating in a year's time. This is good practice to do. Its like a statement to say "we're happy that we will continue to deliver for students based on our current finances". It takes into account the current financial assets of the SU and the potential forecast budget (note: budget for next year has not been approved and so existing figures for this year have been utilised).
Management Accounts: Board is content with current 'live' financial position of the students' union.
Budget Direction 2024-2027: Board of Trustees was updated on the approach that SMT is taking with the University in terms of direction (i.e. potential costs year-on-year and our negotiation tactics)
Updates on strategic projects
Reports from the sabbatical officers
Updates on Nurole: an organisation delivering our trustee recruitment for People & Culture and Health & Safety Trustees
Risk Register updates were noted
The Board of Trustees approved three roles for recruitment
The Board also held a development day focusing on: enhancing financial stability, how the sub-committees work over the next few months, and engagement.
Jake Furby was appointed as Student Trustee
Update from Human Resources Committee focusing on general report and the planned staff survey Update from Health & Safety Committee focusing on general report and the development opportunities for staff around assessing risk
Finances are in a positive position with projections for the end of the year: £50,000 HEFCW Funding has been received and noted within accounts, outstanding CONNECT funding was noted, and Outstanding payments also noted (refurbishment and laptops for staff).
Risk Register update was received
Congratulations to Carmarthen Campus President on her pregnancy! Carmarthen Campus President will take maternity leave from the beginning of March until the end of June. To continue to support Carmarthen students the union will recruit two student staff members to cover the gap. One student staff member will be supporting undergraduates, the other will support postgraduate students. The Student Voice & Advocacy team will support these student staff members.
HEFCW have given all students’ union £50,000. UWTSD SU will be using our £50,000 on Health & Wellbeing projects for students. To undertake this work the union will recruit a fixed-term ‘Health & Wellbeing Assistant’ this role will be a career staff member. There is an internal opportunity for an existing staff member to line manage this role.
The new brand was presented to trustees
An amended staffing structure was presented and approved: Head of Membership Services and Student Engagement Assistant: Satelttle Campuses roles were introduced.
Sabbatical Officer salary was approved at £18,000