Issue - meetings

To consider a report of the Borough Treasurer

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

The report also provides an opportunity to discuss and determine how the reserves held by the LA in relation to administered insurance schemes are used.

Schools Forum Members are requested to

i)             Note the report and offer any comments

ii)            Give a view on the Local Authority proposals as per section 3.6 in the report.

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

A representative of the Borough Treasurer submitted a report (copies of which had been circulated) which provided Schools’ Forum members with an update on the level of school reserves held in relation to insurance schemes that are administered by the Local Authority.

The following comments were made/issues raised:

·         A short discussion took place which covered insight into the analysis undertaken to inform the 2019/20 premium increases.

·         A request was made to review the ‘capping’ amendment included in the scheme from 1 April 2019.

·         Members felt that the external market providing schemes for these matters were increasing their premiums considerably more than the Local Authority.

·         Members of the Forum expressed the view that the preferred option for deployment of the 2018/19 year end reported surplus was to reimburse schools in the BoR scheme (i.e redistribute the £0.173m surplus)

RESOLVED (i) That the report be noted.

(ii) Schools’ Forum views to be discussed/fed back to the insurance team regarding year-end deployment options.