Issue - meetings

To consider a report of the Corporate Director for Corporate and Support Services.

The report provides Schools Forum with an update on the level of school reserves held in relation to insurance schemes that are administered by the Local Authority.

Schools Forum is asked to note the report and support the Local Authority proposals for redistribution at section 3.6.

Officer Contact: Peter Hughes on 0161 474 3947 or email peter.hughes@stockport.gov.uk.

A representative of the Deputy Chief Executive submitted a report (copies of which had been circulated) providing an update on the level of school reserves held in relation to insurance schemes that are administered by the Local Authority.

All of the insurance schemes had reported an operating in-year surplus totalling £0.213m and following a review of reserve levels held/ schemes streamlined a total £0.373m was available for redistribution to schools. In line with previous Schools Forum discussions it was proposed that all surplus monies would be redistributed pro-rata to the schools who had bought back into the relevant schemes.

It was noted that Moat House PRU was not listed for receipt of any monies but had joined two schemes in the year. The appropriate level of pro-rata surplus monies due would be redistributed to them and taken from central reserves as opposed to adjusting the figures stated for all other Schools/PRUs.

Concerns were raised at the potential for the scheme to become unviable in the future, should insufficient schools buy in.

RESOLVED – (1) That the report be noted.

(2) That the Local Authority’s proposed redistribution of surplus funds from maintained insurance schemes be approved.