UCOL BOARD MEETING

UCOL BOARD MEETING

WEDNESDAY, 30th SEPTEMBER 2020 AT 2.30PM Meeting to be held on Manawatū Campus,

McElroy Room (8.0.01)

Universal College of Learning Limited Te Pae Mātauranga ki te Ao

Open Agenda

Universal College of Learning (UCOL) Board Meeting

Date: 30 September 2020 Time: 2.30pm Venue: Manawatū Campus, McElroy Room (8.0.01) Board Members: Hon. Steve Maharey (Chair), Verne Atmore, Mark Cleaver,

Linda Stewart, Katarina Hina, Lyal French-Wright, Barry Jordan, Lorraine Stephenson

Open Agenda

Item Paper Business Presenter Page

1. Welcome / Apologies Chair

2. Register of Interests / Conflicts Chair

3. 42/20 43/20

Minutes from 30 July 2020 (Open Part of Meeting) Minutes from 16 September 2020 (E-Meeting) Chair Pg. 7

Pg. 12

4. 44/20 Matters Arising – Action Register Acting Chief Executive Pg. 13

5. Chair’s Report (Verbal) Chair

6. 45/20 Acting Chief Executive Report Acting Chief Executive Pg. 14

7. 46/20 Safety and Wellbeing Report Health and Safety Manager Pg. 19

8. 47/20 Finance Report (31 August 2020) Chief Financial Officer Pg. 28

9. Close of Open Part of Meeting

Page 2 of 36

Schedule

Universal College of Learning Limited Te Pae Mātauranga ki te Ao Open Agenda

Public Excluded Agenda

It will be moved by the Chair that the public be excluded from the remainder of the meeting. This resolution will be made in reliance on section 48(1) of the Local Government Official Information and Meetings Act 1987 (LGOIMA) and the particular interests protected by section 9 of the Official Information Act 1982 which would be prejudiced by the holding of the relevant parts of the proceedings of the meeting in public. The general subject of each matter to be considered while the public is excluded, the reason for passing the resolution in relation to each matter and the specific grounds under section 48(1) of LGOIMA for the passing of the resolution are as follows:

Item General subject of each matter to be Considered

Reason for passing this Resolution in relation to each matter

Ground(s) under Section 48(1) for the passing of this Resolution

10. Minutes from 30 July 2020 (Public Excluded meeting)

Section 9(2)(b)(ii) of the Official Information Act - protect information where the making available of the information would be likely unreasonably to prejudice the commercial position of the person who supplied or who is the subject of the information.

That the public conduct of this item would be likely to result in the disclosure of information for which good reason for withholding would exist under section 9 (noting the Board is specified, in Schedule 2 of LGOIMA, as a body to which LGOIMA applies).

11. Healthcare and Social Assistance Centre


That the public conduct of this item would be likely to result in the disclosure of information for which good reason for withholding would exist under section 9 (noting the Council is specified, in Schedule 2 of LGOIMA, as a body to which LGOIMA applies).

12. Disposal of Old Main Campus (Whanganui)



13. 2021 Budget Section 9(2)(b)(ii) of the Official Information Act - protect information where the making available of the information would be likely unreasonably to prejudice the commercial position of the person who supplied or who is the subject of the information.


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Schedule


Open Agenda

14. Property Report Section 9(2)(b)(ii) of the Official Information Act - protect information where the making available of the information would be likely unreasonably to prejudice the commercial position of the person who supplied or who is the subject of the information.


15. Transfer of Wairarapa Campus



16. General Business Section 9(2)(i) of the Official Information Act – enable the organisation holding the information to carry out, without prejudice or disadvantage, commercial activities.


The Chair will also move that certain employees from UCOL be permitted to remain at the meeting, after the public has been excluded, because of their specific knowledge in relation to the above items. This knowledge, which will be of assistance in relation to the matters above to be discussed, is relevant to those matters because they have assisted in the progression of such matters.

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Register of Interests UCoL Ltd Subsidiary Board as at 30 July 2020

Register of Interests

NZIST Subsidiary Board of Directors of Universal College of Learning Limited As at 30th July 2020

Directors

NAME INTEREST DECLARED Date Effective

Date Ceased

Steve Maharey (Chairman)

• Steve Maharey Ltd• Pharmac (Chair)• Education New Zealand (Chair)• Wellington NZ (Director)• Finance, Procurement and Information Technology

(FPIM), Ministry of Health (Board Member)• Atlantis Group of former Ministers of Education, Varkey

Foundation (Member)• Te Aho Tamaka – Manawatu Leaders Group

Katarina Hina • Te Runanga o Nga Wairiki Ngati Apa (Strategic Lead)• Te Manu Atatu Maori Business Network (Board Member)

Lyal French-Wright • UCOL Council (Councillor)• NZIHT (Director)• WITT Ltd (Director)• Taranaki Rugby Football Union (President)• New Plymouth Boys’ High School Centennial Trust (Trustee)• New Plymouth Boys’ High School Old Boys Association

(Executive)

2019

2020 2020 2012 2008

Nov 2019

Linda Stewart • Economic Development New Zealand (Director)• Central Economic Development Agency (Chief Executive)• Manawatū – Whanganui Regional Skills Leadership Group

(Member) 2020

Current Current

Mark Cleaver • Cleaver Family Trust (Trustee)• Zena Elsie Orr Memorial Trust (Trustee)• Zambezi Holdings Ltd (Director/Shareholder)• Rawhitiroa Forest Partnership (Director/Shareholder)• Aero Sports Protection Ltd (Shareholder)• Cricket & Hockey Holdings Ltd (Shareholder)• BT Musings Ltd (Nominee Shareholder)• CompressTech Ltd (Director)• Hyper-Analytics R&D (Director)• Hyperceptions Ltd (Director)• MVL Robotics Ltd (Director)

2006 2012 1997 2008 2004 2014 2019 2017 2016 2018 2019

Page 5 of 36

Register of Interests UCoL Ltd Subsidiary Board as at 30 July 2020

NAME INTEREST DECLARED Date Effective

Date Ceased

• SkillTracker Ltd (Director)• Malbec Consulting Limited (Director and Shareholder)• Hockey Manawatū Incorporated (Chair)

2016 2020 2020

Verne Atmore • UCOL Council (Councillor)• Equine Lifestyle Equipment Ltd (Director)• Tru-Test Group (General Manager NZ)• DC & VH Atmore Partnership (Partner)• Agtrac Services Limited (Director)• Datamars SA (VP Livestock Management Solutions)

2015 2005 2008

Ongoing 2017 2019

2020

2018

2018

Lorraine Stephenson

Barry Jordan • Peachstone Limited (Shareholder and Director ofcommercial mediation business)

• Victoria University - Brian Picot Chair in EthicalManagement (Advisory Board Member) (pro-bono)

• Southern Institute of Technology Limited (Director)• Onslow College Hockey (Treasurer) (pro-bono)• AMINZ (Board Advisory) (pro-bono)• Southern Lakes English College Limited (Director)

• Deloitte (Forensic and Insolvency Partner)• NZIST (Establishment Board Chair)• Karori Junior Hockey Club (Treasurer)

2020

2008 2019 2017

Current

Current

Current Current Current

2018 2020 2020

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Paper 42/20

Universal College of Learning (UCOL) Board Meeting

MINUTES

30 July 2020 at 11.00am Via Video Conferencing

Present: Steve Maharey (Chair), Verne Atmore, Barry Jordan, Mark Cleaver,

Linda Stewart, Lyal French-Wright, Lorraine Stephenson In Attendance: Dr Linda Sissons (Acting Chief Executive), Carol Christison (Company

Secretary), Paula Birchall (Board Secretary) Apologies: Katarina Hina

ITEM 1: Welcome / Apologies The Chair welcomed everyone in attendance and declared the meeting open. Apologies were received from: - Katarina Hina ITEM 2: Register of Interests / Conflicts The Register of Interests was noted, with the addition of the following for Member Linda Stewart: - Member – Manawatū – Whanganui Regional Skills Leadership Group There were no further interests to declare. ITEM 3: 31/20 - Confirmation of Minutes (Open Section) of 25 June 2020 The members noted the minutes from the open section of the 25 June Board meeting.

1/1 IT WAS MOVED (B. Jordan) AND SECONDED (M. Cleaver) THAT THE MINUTES FROM THE OPEN SECTION OF THE 25 JUNE 2020 UCOL BOARD MEETING BE ACCEPTED AS A TRUE AND ACCURATE RECORD.

CARRIED

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Paper 42/20

ITEM 4: Matters Arising

32/20 - Action Register - The Acting Chief Executive advised that the negotiations with WREAP have commenced

and the Lease will be provided to the Board at the September meeting.

ITEM 5: Chair’s Report Members noted an update from the Chair.

In particular members, - noted the update from the Chair in regards to various meetings attended during the

month including, the Survive to Thrive Summit, NZIST meetings including a Chair’smeeting and discussions with the Acting Chief Executive;

- noted the reminder that Stephen Town will be visiting UCOL on 30 September;- noted the Board and Senior Leadership Team Strategy Day that took place with facilitator

Dave Wild on 2nd and 3rd July;- noted that the Chair visited the Whanganui campus, attended the Semester 2 Powhiri and

met with Campus Leaders. The Chair requested a report be presented to the Board onthe vacant space in Whanganui in the near future.

ITEM 6: 33/20 – Chief of Operations Report - The Chief of Operations report was received.- The Acting Chief Executive provided an update on the Launch of the new Food and Fibre

Training Initiatives (Taratahi). It was agreed a report be provided at the next meeting onthe progress with Taratahi. Discussion followed regarding a Business Case which wasrequested by the Minister of Agriculture with Board encouragement to look at an entirelydifferent model from Taratahi’s past model. It was agreed a Business Case be drafted anda decision made by year end.

- Members would like to see statistics on People and Culture in the Acting Chief Executivesreport going forward.

ITEM 7: 34/20 – Bi-Monthly Safety and Wellbeing Report - The Bi-Monthly Safety and Wellbeing Report was received.- The Health and Safety Manager advised Members that UCOL is currently developing a

contingency plan in the event there is community transmission and we are required to goback to Level 2. The Board suggested this be given high priority.

- The Health and Safety Manager noted a Covid-19 debrief paper has been prepared andwill be provided to the Board at the September meeting.

- The Members were interested in the progress being made with flexible workingarrangements.

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Paper 42/20

Resolution to Exclude Public in Accordance with the Public Excluded Agenda

1/2 IT WAS MOVED (S. Maharey) AND SECONDED (M. Cleaver) THAT THE PUBLIC BE EXCLUDED FOR THE REMAINDER OF THE MEETING AS PER THE ATTACHED SCHEDULE OUTLINING THE REASON FOR EACH AGENDA ITEM AND THAT MEMBERS OF THE SENIOR LEADERSHIP BE PERMITTED TO STAY FOR ITEM 13.

CARRIED

ITEM 8: Closure of Open Section of the Meeting There being no further business the open part of the meeting closed at 11.46am.

Dated:

Signed as a correct record

___________________________________ Hon. Steve Maharey Chair

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Paper 42/20

Schedule

Public Excluded Agenda

The Board resolved that the public be excluded from the remainder of the meeting in reliance on section 48(1) of the Local Government Official Information and Meetings Act 1987 (LGOIMA) and the particular interests protected by section 9 of the Official Information Act 1982 which would be prejudiced by the holding of the relevant parts of the proceedings of the meeting in public.

The general subject of each matter to be considered while the public is excluded, the reason for passing the resolution in relation to each matter and the specific grounds under section 48(1) of LGOIMA for the passing of the resolution are as follows:

Item General subject of each matter to be Considered

Reason for passing this Resolution in relation to each matter

Ground(s) under Section 48(1) for the passing of this Resolution

9. Minutes of Part II from meeting on 25 June 2020

Section 9(2)(i) of the Official Information Act – enable the organisation holding the information to carry out, without prejudice or disadvantage, commercial activities.


That the public conduct of this item would be likely to result in the disclosure of information for which good reason for withholding would exist under section 9 (noting the Board is specified, in Schedule 2 of LGOIMA, as a body to which LGOIMA applies).

10. Finance Report Section 9(2)(i) of the Official Information Act – enable the organisation holding the information to carry out, without prejudice or disadvantage, commercial activities.


11. Healthcare and Social Assistance Centre - Development Options



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Paper 42/20

12. Seismic Assesments Update (Manawatu and Whanganui Campuses)



13. Draft UCOL Strategy Document 2021 - 2022



14. General Business Section 9(2)(i) of the Official Information Act – enable the organisation holding the information to carry out, without prejudice or disadvantage, commercial activities.


The Board resolved that UCOL employee Dr Linda Sissons be permitted to remain at the meeting, after the public has been excluded, because of her specific knowledge in relation to the above items, which will be of assistance in relation to the matters above to be discussed.

The Board also resolved that members of the Senior Leadership Team be permitted to join the meeting for Item 13 – Strategy Document 2021 – 2022 because of their specific knowledge in relation to this item which will be of assistance when discussing the matter.

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Paper 43/20

UCoL Limited Board Resolution 2021 Tuition Fees Paper Number 41/20 Circulation Electronically (via email) Date of Circulation 16 September 2020

1/1 APPROVES THE PROPOSAL TO INCREASE

DOMESTIC TUITION FEES FOR ALL PROGRAMMES LEVEL 3 AND ABOVE BY THE MAXIMUM ANNUAL MAXIMUM FEE MOVEMENT (AMFM) PERMISSIBLE FOR THE 2021 ACADEMIC YEAR OF 1.1%.

CARRIED

1/2 APPROVES TO MAINTAIN THE COMPULSORY STUDENT SERVICES LEVY AT CURRENT LEVELS.

CARRIED

1/3 APPROVES TO MAINTAIN INTERNATIONAL

STUDENT FEES FOR THE 2021 ACADEMIC YEAR AT THE SAME RATE APPLIED IN 2020.

CARRIED

Dated: Signed as a correct record:

___________________________________ Chairperson

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Paper 44/20

UCOL Board Meeting

30 September 2020

Agenda Item Number: Paper Number:

4 44/20

Title: Matters Arising – Action Register

Owner: Acting Chief Executive

Item for: Noting

Item Date Action Generated Action Owner Due

1. 25 September 2019 Property Strategy. Update: Action to be closed - been superseded by the Campus Development Plans (x 4)

CFO September

2. 25 September 2019

Follow up on all Campus Development Plans. Update: Action to be closed – this forms part of the new Strategy (completion by June 2021)

CFO September

3. 25 September 2019 Advance negotiations with WREAP and bring to the Board for approval.

CFO July

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Paper 45/20

UCOL Board Meeting

30 September 2020


6 45/20

Title: Acting Chief Executive Report

Owner: Linda Sissons, Acting Chief Executive

Item for: Information / Noting

Recommendation It is recommended that the Board: 1. Receives the Acting Chief Executive Report.

Background Having been on restricted duties owing to a workplace accident since 19 August, I apologise for the brevity of this report. I would like to thank the Chair and my colleagues for their support throughout.

Equivalent Full-Time Students (EFTS) As at 22 September 2020 the current domestic EFTS for 2020 across all funding streams sit at 2851. This takes us to 89% against the budgeted EFTS for all domestic.

Domestic Level 3 + is 2373 EFTS for 2020. This takes us to 86% against the 2020 budgeted EFTS.

Inclusive of all funding streams (including International) UCoL is currently at 3069 EFTS which meets 90% of the total 2020 budgeted EFTS.

International is currently at 215 EFTS meeting 101% of its 2020 budgeted EFTS.

There are a very small number of programmes still to start prior to the end of year so numbers may increase slightly, but it is expected these will be offset with Breach of Contract recommendations which are still to come.

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Paper 45/20

Strategy Development Engagement sessions have been held with managers and staff on all four campuses, with positive contributions, feedback and discussion. The majority of the feedback is operational in nature, with no real gaps in the work presented being identified by staff. Insights from the Board Chair on 20 August were very valuable. The views of Iwi partners in our regions and some valued stakeholders will be sought September/October to contribute to the finalisation of the draft prior to Board consideration. The strategy would resonate with all subsidiaries in the network. Partnership is a new defining value. What will make UCoL stand out amongst the network is doing this well, and our ability to collaborate early with new partners and institutes/ITOs on new projects. It will need energy and commitment from the senior leadership and demonstrable progress measured by an accountability framework. An implementation plan with milestones, KPI’s and accountabilities will be developed ready for 2021 and will come to the board in November. These goals will stretch the UCoL Team to shift out of the current modus operandi and think and operate differently, with drive and purpose towards a more productive future. Attached (Refer: Appendix I) for the Board’s information is a copy of the current draft Strategy. Supporting Information Appendix I - Draft UCoL Strategy

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Whole of Organisation Commitment to Te Mana Tiriti: Embedding Te Tiriti O Waitangi at UCOL

ŌritetangaParity in education success for Māori

Outcomes& KPI’s

Outcomes& KPI’s

UCOL Strategy for Engagement

Te Mana Tiriti – our understanding and application of Tiriti O Waitangi principles increases.

• Professional development is a priorityand enabled by funding andrelease/back-up of staff.

• The principle of rangatiratanga isevident in all that we do.

• Our marautanga is inclusive of allthings Te Ao Māori.

Te Herenga Tangata – connecting people

• Authentic whanaungatanga with Iwi,Māori and Pasefika communities.

• Iwi in our rohe are genuine partnerswhose voice is valued.

• Our Māori tauira and staff are welcomedand valued at UCOL.

Te Hurihanganui – changing practices.

• Barriers which hinder tauira successare removed from practices, policyand systems.

Whai Mahi/Whai Oranga – gaining employment.

• Our tauira are work ready.

VisionWe are an essential and valued partner in achieving economic and social prosperity for the Central North Island of Aotearoa.

MissionAs the lead partner for vocational education and training in the Central North Island, UCOL’s collaborative and innovative approach is exemplary.

Our graduates are ready for work and are sought after by employers.

Drivers1. The establishment of NZ IST is a fast moving

agenda to deliver a coherent, consistent andviable national network.

2. The acceleration of any-time, anywherelearning and the decreasing focus on ‘thecampus’.

3. Arranging and delivery of workplace learningas the norm for the sector.

4. Growth of regional identity and pride led byemployers and communities, with UCOL asthe engine of development for our Region.

5. The fast growing Māori economy, populationand cultural dynamic and the implications oneducation and training provision.

6. The value of internationalisation for currentand prospective students, employers andcommunities.

0800 GO UCOL | UCOL.AC.NZ

Outcomes& KPI’s

Outcomes& KPI’s

APPENDIX I

Paper 45/20 Page 16 of 36

p.birchall

Highlight

STRATEGIC GOALS

Partnerships that matter and deliver growth

Global Outreachand Internationalisation

Outcomes& KPI’s

Outcomes& KPI’s

Outcomes& KPI’s

Outcomes& KPI’s

We are an active and influential partner in the NZ IST network.

• UCOL is a partner in one or more Centre’s ofVocational Excellence.

• Te Atakura is identified as a national leader andadopted as a model by NZ IST.

• UCOL is an early adopter of NZ IST projects and takesthe lead on key projects.

• We work collaboratively with ITOs on transitioning intoNZ IST.

Our regional industries/businesses engage and partner with us.

• Our tauira include pre-employment, in worklearners and employers.

• Industry informs our graduate outcomes throughnew models of stakeholder engagement.

• Industry is an equal partner with academics indeciding what we deliver.

• APL and Employability services are national leaders.

Outcomes& KPI’s

Identifying innovative approaches for the enablement of international partnerships in a post Covid-19 environment.

• UCOL is a leader in the International EducationRecovery and Transformation Strategy.

• UCOL graduates are equipped with the ‘know-how’ toeffectively perform their roles, supporting theambitions of their employers and/or commercialobjectives.

• UCOL students have the opportunity to gainexposure to international organisations and markets,providing them with insights into career prospects.

We are the vocational provider of choice in our Region.

• We are early adopters of the RSLG and WDC purpose.• Our programme portfolio delivers what our

community and businesses need.• Our teaching and learning approaches, programme

portfolio and curriculum design are sector leading.• The voice of UCOL students is heard and valued and

contributes to continuous improvement in the studentexperience.

• Our tauira and local employers recommend us.• We foster a high skill, high value economy.

All tauira are welcome and valued at UCOL for the uniqueness they bring.

• International tauira learn about Aotearoa culture,establish relationships and networks, and becomeUCOL ambassadors in their home countries.

• Internationalising our curriculum to demonstrate itsrelevance for the domestic industries, andapplicability at international locations.

• International students learn both the technical skillsprescribed in the curriculum, and the soft skills thatidentifies our Kiwi way of life.













APPENDIX I


p.birchall

Highlight

ENABLING GOALS

Our staff excel in their field

Outcomes& KPI’s

Outcomes& KPI’s

Outcomes& KPI’s

Kaiako are confident and competent with mixed-mode facilitation and work based delivery.

• Professional development is a priority andenabled by funding and release/back-up of staff.

• Our Competency Framework aligns with ourstrategy and is successfully launched.

• UCOL as a whole organization is competent inblended delivery (technologies, systems,processes, academic and pastoral support,teaching and assessment).

All staff are confident and competent in their area of professional practice.

• Professional development is a priority andenabled by funding and release/back-up ofstaff.

• Our Competency Framework aligns withour strategy and is successfully launched.

Our footprint is flexible to meet future needs and 21st century learning environments.

• Campus development and assetmanagement plans are financially andenvironmentally sustainable.

• At least one major technology projectcompleted which results in efficiencies andimproved business integration that deliverthe delivery models of the future.

• Our curriculum is flexible and adapatable toa multitude of contexts.

Outcomes& KPI’s

Equitable access and participation in education and training.

• Our Equity Framework promotes inclusion,and positively and deliberately targets areasof inequity for staff and tauira.













We are driven by sustainability

We value all individuals

APPENDIX I


p.birchall

Highlight


Paper 46/20

UCOL Board Meeting

30 September 2020


7 46/20

Title: Safety and Wellbeing Report

Owner: Sylvie Hickton, Health and Safety Manager

Item for: Noting

Recommendation It is recommended that the Board: 1. Receives the Safety and Wellbeing Report.

Purpose This report is provided to assist the Board in the discharge of their responsibilities enabling them to exercise their due diligence under the Health and Safety at Work Act 2015.

Executive Summary This Safety and Wellbeing Report has been put together to ensure the Board are aware of all updates within the areas of Safety and Wellbeing at UCoL.

Background Risk Management Please refer to the attached report which covers all reported risk management areas.

Current Issue Continual management of Covid-19 while on Alert Level 2 and ensuring we manage the risk and wellbeing of our staff, students and stakeholders.

Options Ensuring that all staff and students sign in via the QR code or manual sign in register.

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SAFETY AND WELLBEING BOARD REPORT FOR JULY/AUGUST 2020

1.0 - Board Rolling Action List Update 1.1 - Board Rolling Actions received from last Board Meeting. No rolling actions received.

2.0 -Board and Senior Management Group - Due Diligence Visit Programme 2020 2.1 - Board Visits: There have been no scheduled due diligence visits for 2020. However a schedule is being developed for Board visits to high risk areas/programmes for 2021. This plan will be submitted to Board for consideration later this year.

3.0 –Bi-Monthly Overview 3.1 - Risk Management (includes Health & Safety Audit Results)

3.1.1 - Emergency Management - Coronavirus (Covid-19) Currently we are on Alert Level 2 with a review of levels by Ministry of Health on the 16th September 2020. All Alert Level 2 requirements have been put in place and being monitored and adjusted as required. 3.1.2 - Incident Management Team Debrief The Incident Management Team are continuing to meet three times a week to consider any changes or issues that have arisen over the period. The main issue for the Incident Management Team is the signing in and out either via the QR code or manual sign in. The main issue is complacency as we work our way through the levels again. Communication is the main vehicle for us to get the required messages across to staff and students. 3.1.3 - Emergency Management Policy/Procedure Reviews - These are currently under review by the Health and Safety Emergency Management Officer. This review will cover the Emergency Management Policy and Procedure, Pandemic Plan, Business Continuity Plans (BCP), and the Lockdown Policy. 3.1.4 - Emergency Management training all levels. The Foundation Skills training to Unit Standards has begun with the first training session on the 26th of July 2020. Further training sessions are being scheduled. Defibulator and Evacuation chair training is also being organised across all of our campuses. 3.1.5 - Earthquake Preparedness Audit - An email has been sent to all staff to commence the clean-up and decluttering of their areas. To make this a rewarding and fun exercise, management is running a competition on First Work Area/Space to achieve clean work area, or biggest improvements in area/faculty. The deadline for this clean-up is the 2nd of November 2020. 3.1.6 - Fire Drill Requirements - Due to Covid-19 the Fire and Emergency NZ (Fire Safety Evacuation Procedure and Evacuation Scheme) Regulations have been modified to help ease the tension between the requirement of building owners to conduct trial evacuations or evacuation training programmes and the restrictions imposed by the Epidemic Preparedness (Covid-19) 2020 Notice requiring physical distancing. Until advised otherwise there will be no trial evacuations. On the Manawatū campus there is a shortage of Floor Wardens. This is currently under review with Facilities Management. 3.1.7 - Engineering & Applied Technology External - Machine Guard Audit - The external auditor has completed the site audit and has identified all the machines that need a comprehensive guarding audit. Another auditor, expert in machine guarding will now begin the next phase of this audit. This audit will also take into account student and staff inductions and their competencies along with curriculum teaching performance safety and training bodies’ requirements. 3.1.8 - National Shake Out Day - National Shake Out exercise is due to take place on the 15th of October 2020. UCoL has registered to participate in this exercise which will be delivered across all campuses. 3.1.9 - Staff Inductions - The Health and Safety team have developed a new Health and Safety induction programme that will be carried out within the first two weeks of new staff commencing. This is to ensure that staff across all of our campuses receive a Health and Safety Induction in a timely manner.

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3.2 Notifiable Events 3.2.1 - There have been no UCoL notifiable Injuries, Illnesses, Incidents or Events over this period. However there was one incident which initially could have been a notifiable event. This incident involved an employee slipping on a wet floor when exiting their office. An ambulance was called and they were taken to A&E for medical treatment. They sustained a dislocated shoulder and fractures. WorkSafe NZ were contacted for clarification and they confirmed that: "It was not a notifiable event on the ground that the employee was not admitted to hospital, meaning admitted to hospital as inpatient for any length of time, it does not include being taken to the hospital for outpatient treatment by a hospital’s emergency department, or for corrective surgery at a later date. Also excluded under loss of bodily function that requires immediate treatment other than first aid are sprains, strains or fractures". Investigation findings:

1. Changed cleaning requirements - now nightshift cleaning, and micro mops now being used to reduce wetness of floors.2. Replacement of lino floor given age and loss of anti-slip.3. That a "Code of Conduct when accompanying a staff/student for medical treatment" needs to be developed.

3.3 - Review of Policies and Procedures 3.4 - Acts and Regulation Changes The following policies and procedures are currently under review:

3.3.1 - Working Alone Policy: The Working Alone Policy review is currently on hold until the full impact of the security review is known, which is scheduled for completion by the end of 2020. 3.3.2 - Safety and Wellbeing Policy: Officers under the HSWA within UCoL are Chief Executive and UCoL Board members. This policy is now completed and awaiting signatures of the Acting Chief Executive and Chair of the Board. 3.3.3 - Code of Conduct - When accompanying a staff member or student for medical treatment: Currently this code of conduct is under development and will reflect who accompanies a person to hospital or a doctor and their required behaviour.

3.4.1 - -The following Acts and Regulations may impact on Health and Safety Policies and Procedures. A review will be commenced to verify if any changes are required.

• Education and Training Act – replaces Education Act 1989.• Public Sector Act 2020 – replaces State Sector Act 1988.• Privacy Act 2020 – replaces Privacy Act 1993 (from 1st Dec 2020).

3.5 – Contractor Non Conformance 3.5.1 - OCS Gutter Cleaning – Manawatū Campus Company workers stood down by UCoL due to lack of paper work, WorkSafe NZ Permit for working at heights not sighted and OCS staff on site not demonstrating the required competencies for this type of work. Company received written warning from Facilities Management Operations Manager who manages this contract in consultation with the Health and Safety Manager.

3.6 - Drug and Alcohol Testing 3.6.1 - Drug and Alcohol Testing: The following tests (table on right) were carried out in July and August. There were no student placement drug tests carried out by UCoL in this timeframe.

Please note, industry terminology for a positive test is 'non-negative' which remains until a laboratory test has been completed to confirm a positive drug indication.

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3.7 - Employee Engagement and Participation 3.8 -Wellbeing Programmes - Update 3.7.1 - The Health and Safety Representative Committee meeting was held on the 5th of August 2020. At the meeting training was discussed, and it was agreed that a training schedule, along with pop up meetings to increase peoples knowledge would be finalised and communicated out to all staff for 2020/21.

3.8.1 - The Staff Wellbeing Awareness Team (SWAT) met on the 27th of August to prioritise events for the remainder of 2020. These events are now being prioritised and put into the Wellbeing calendar for the balance of this year.

4.0 - Safety and Wellbeing Annual Planner 2020 Updates 4.1 - Health and Safety Annual Planner: Currently the risk management plan is being developed by the Health and Safety team, within the Compliance, Risk and Governance Unit.

5.0 - Monthly Report Statistics

During this reporting period there has been a substantial increase in the number of Covid-19 tests for students and staff. The testing has been carried out on all of our campuses.

Most other events were minor requiring nil or only onsite first aid. Only two events required further medical treatment and that related to a slip and fall by an employee mentioned in Notifiable Events and a Body Part incident.

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5.0 - Monthly Report Statistics (cont.)

5.0 - Monthly Report Statistics (Cont.) 5.0 - Monthly Report Statistics

Each body part represented one injury except for head and back incidents. The two back injuries were existing conditions and a workplace assessment was completed by our occupational nurse. The head injury related to a student fainting. The student was taken to A&E and discharged and was back in class the next day.

This graph represents the events that occurred over the two month reporting period. These related to four Faculties; Engineering & Applied Technology (8) Student Success (1), Corporate Services (1) and Health & Sciences (2).

Except for the vehicles and Covid-19 (which is shown in a separate graph) all others areas represent (1) incident.

The vehicle incidents relate to traffic offences in the faculties of Engineering and Applied Technologies, Health and Sciences, and Student Success. Currently motor vehicle usage and regulations are under review, as a motor vehicle under the Health and Safety at Work Act is deemed a workplace.

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5.0 - Monthly Report Statistics (Cont.)

6.0 Staff Wellbeing

This graph represents the number of Covid-19 tests reported into our health and safety management system.

There has been a substantial increase in testing by medical practitioners and the Ministry of Health since our last report.

This trend is expected to increase over the balance of this reporting year.

Over this reporting period there has been a donation of 34 days sick leave with 40 days sick leave approved. The current balance within the sick leave bank stands at 259 days.

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7.0 – Employee Assistance Programme

EAP Services have seen a significant increase in new clients, mainly in the personal issues area over the last reporting period.

The majority of these were self-referrals.

Work issues have also increased with conflict with colleagues registering this reporting period. All campuses have increased, with Manawatū and Wairarapa showing the highest usage of EAP Services.

Workplace assessments continue to be the main focus for the Occupational Nurse.

There is a steady increase in personal assessments as we travel down the Alert Levels.

It is noted that Wairarapa does not register this reporting period so a relaunch of services available will happen early September.

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8.1 - Within 2020, the Health and Safety team has committed to placing relationships and preventative health and safety as our two primary KPI’s. These are followed by the measures illustrated in the infographic below.

8.0 – Safety and Wellbeing “Key Performance Indicators” Tracking

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Paper 47/20

UCOL Board Meeting

30 September 2020


8 47/20

Title: Finance Report (31 August 2020)

Owner: Brian Trott, Chief Financial Officer

Item for: Information

Recommendation It is recommended that the Board: 1. Receives Finance Report for the period ended 31 August 2020.

Purpose To present the Board with the results for the period ended 31 August 2020 and a forecast for the full year.

Background The financial statements for the period ended 31 August 2020 are attached as follows: • Financial Commentary.• Consolidated Statement of Financial Performance.• Summarised Statement of Cash Flows.• Templates submitted in September to NZIST or TEC.

A summary of financial performance as at 31 August 2020, against target, is highlighted in the following table.

Year to Date $m Year End $mActual Budget Variance Actual Budget Variance

Income $44.30 $34.03 $10.27 Better $49.16 $50.59 ($1.43) Worse Expenses $32.32 $35.80 $3.48 Better $48.05 $51.27 $3.21 Better TANZ $0.03 $0.00 ($0.03) Close ($0.15) ($0.15) $0.00 Close Surplus $11.95 ($1.77) $13.73 Better $1.26 ($0.53) $1.79 Better EBAI 2.88% (0.74%) 4% Better Cash $12.04 $11.51 $0.53 Better $11.12 $8.37 $2.75 Better

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Financial Commentary

Year to Date Financial Performance The statement of financial performance for the period ended 31 August 2020 is a Net Surplus of $11.954 million and is ahead of budget by $13.727 million. This variance is due to revenue which is $10.270 million ahead of budget and expenses which are $3.457 million behind budget.

Year to Date Enrolments EFTS are 168 EFTS behind year to date budget and 60 EFTS behind last year when compared on a like for like basis1. The most significant programmes contributing to the EFTS shortfall are Primary Industry programmes (75 EFTS) Construction (39 EFTS) and Creative Media Photography and Design (31 EFTS).

Year to Date Revenue Revenue is $10.270 million ahead of budget due to governments funding guarantee. Student domestic fees are $0.698 million less than budget and is driven by EFTS which are 168 EFTS less than budget as detailed in the EFTS table above. Other revenue is $0.428 million ahead of budget mainly due to MPI Primary Sector Workforce programme funding of $0.809 million invoiced in August 2020. Note there is offsetting expenditure incurred in relation to this funding discussed below.

Year to Date Expenses Expenses are $3.457 million less than budget year to date, items of note are detailed below.

Payroll is $1.502 million behind budget mostly in academic delivery (primary programmes contributing $0.353 million).

Occupancy costs are $0.143 million behind budget, significant variances being utility cost $0.052 million and security $0.042 million which are expected to continue to year end and are permanent in nature. In addition, external computer lease expenditure is $0.040 million behind budget, however this is considered timing in nature.

1 2020 Changes to Revenue Recognition Revenue reported in 2020 is presented on a significantly different basis from previous years. Historically UCoL has recognised revenue on an invoice basis. In November 2019, NZIST directed that revenue be recognised as delivered and the 2020 budget was prepared on that basis. Early in 2020 NZIST issued final accounting policies which, in addition to the above, directed that historical course withdrawals be reflected and revenue be adjusted accordingly. Course withdrawals can be made up to 2 weeks from course start date. If a withdrawal occurs past this point UCoL is entitled to full TEC funding and student fees. This report reflects revenue where the course withdrawal date has passed.

YTD Actual YTD Budget Variance YTD This Year [2019 Basis] YTD Last Year VarianceTec SAC L1 & 2 20 61 (41) 31 56 (25)Tec SAC L3+ 1,614 1,833 (219) 2,410 2,474 (64)Adult & Community Education 32 40 (8) 52 67 (15)Youth Guarantee 68 63 4 99 93 6Trades Academy 142 86 57 170 133 37International 166 137 29 217 211 6Other 36 26 10 51 56 (5)Total EFTS 2,079 2,247 (168) 3,030 3,090 (60)

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Operating expenses are $2.004 million behind budget, some of this variance is expected to be permanent with the most significant expense lines being; domestic travel $0.170 million, overseas travel $0.095 million, catering $0.055 million. In addition, there is expected to be a component of permanent savings in teaching costs and clinical placements which are $0.726 million behind budget (the most significant contributor to this is primary industry programmes at $0.389 million), however the extent to which this will continue to year end will be driven by UCoL’s ability to meet its contracted EFTS.

MPI Primary Sector Workforce programme expenditure was incurred relating to Taratahi delivery of $0.193 million [Teaching costs $0.027 million, Payroll costs $0.044 million, Occupancy costs $0.081 million, Other $0.041 million]. Note expenditure is offset by funding as mentioned above under Other Revenue variance discussion.

Year End Forecast Year-end forecast has been aligned with the latest NZ IST ITP Covid-19 re-forecast submitted to NZ IST on 20 July 2020 (provided at previous meeting - Paper 36/20 - Appendix 5 UCoL NZIST Forecast 20 July 2020 and Appendix 6 UCoL NZIST ITP forecast data capture tool June template).

Templates Submitted in September to NZIST or TEC Templates that were submitted to NZ IST or TEC during September 2020 are outlined below and attached.

- TEC reporting template which is a monthly submission of financial and non-financialdata. (Refer: Appendix I).

- Rolling cash flow forecast 31 August 2020 which is a monthly submission of a 12monthly rolling Cash Flow forecast. (Refer: Appendix II).

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Statement of Financial Performance 31/08/19 Category Description Notes

YTD Actual Budget Variance Variance Actual Budget Variance Variance Forecast Budget Variance Variance$000 $000 $000 $000 %+/(-) $000 $000 $000 %+/(-) $000 $000 $000 %+/(-)

Revenue9,415 Student Fees Domestic Level 3 & above 1 1,398 950 448 47% 6,387 7,085 (698) (10%) 8,720 10,346 (1,626) (16%) 3,863 Student Fees International 2 463 377 86 23% 3,047 2,522 525 21% 3,700 3,951 (251) (6%)

117 Interest Received 3 5 29 (24) (83%) 67 124 (57) (46%) 180 180 0 0%1,178 Other Revenue 4 993 199 794 - 1,818 1,390 428 31% 1,891 2,103 (212) (10%)

672 TEC Funding Level 1 & 2 5 34 82 (48) (59%) 188 616 (428) (69%) 1,005 1,005 0 0%22,327 TEC Funding Level 3 & Above 6 3,195 2,257 938 42% 14,884 16,516 (1,632) (10%) 24,190 24,190 0 0%

1,265 Youth Guarantee 7 214 121 93 77% 912 868 44 5% 1,670 1,670 0 0%1,830 Trades Academy 8 335 188 147 78% 2,205 1,348 857 64% 2,562 2,562 0 0%3,627 TEC First Year Fees Free 9 454 365 89 2,307 2,724 (417) (15%) 3,522 3,973 (451) (11%)

0 TEC TTAF 10 0 0 0 0 0 0 - 0 0 0 -1,020 TEC Funding Other 10 (4,216) 119 (4,335) - 12,482 834 11,648 - 1,723 608 1,115 -

45,314 Total Income 2,875 4,687 (1,812) (39%) 44,297 34,027 10,270 30% 49,163 50,588 (1,425) (3%)

Expenditure17,560 Payroll 11 2,247 2,422 175 7% 19,079 20,581 1,502 7% 27,141 29,289 2,148 7%

8,869 Operating 12 1,099 937 (162) (17%) 7,119 9,123 2,004 22% 11,663 12,871 1,208 9%2,004 Depreciation 13 347 320 (27) (8%) 2,641 2,380 (261) (11%) 4,306 4,164 (142) (3%) 3,310 Occupancy 14 480 395 (85) (22%) 3,286 3,429 143 4% 4,379 4,379 0 0%

0 Interest 17 0 0 0 - 0 0 0 - 0 0 0 -0 Interest Leases 15 0 0 0 - 6 0 (6) - 29 29 0 0%

56 Educational Development 16 0 34 34 100% 7 71 64 90% 230 230 0 0%31,799 Total Expenditure Before Other Items 4,173 4,108 (65) (2%) 32,138 35,584 3,446 10% 47,748 50,962 3,214 6%

13,515 Net Surplus/(Deficit) Before Other Items (1,298) 579 (1,877) (324%) 12,159 (1,557) 13,716 881% 1,415 (374) 1,789 478%

Items Requiring Separate Disclosure32 Whanganui Properties 17 0 0 0 - 86 34 (52) - 66 66 0 0%

233 ROVE 0 20 20 100% 2 160 158 99% 240 240 0 0%0 Share of Joint Entity 18 0 0 0 - 26 0 (26) - (152) (152) 0 0%0 Covid-19 6 0 (6) - 40 0 (40) - 0 0 0 -

49 Legislative Compliance 22 3 2 (1) (50%) 51 22 (29) - 0 0 0 -46 Change Management- Organisational Structure 19 0 0 0 - 0 0 0 - 0 0 0 -

360 Total Separate Disclosure Items 9 22 13 59% 205 216 11 5% 154 154 0 0%-

32,159 Total Expenditure 4,182 4,130 (52) (1%) 32,343 35,800 3,457 10% 47,902 51,116 3,214 6%

13,155 Net Surplus/(Deficit) 20 (1,307) 557 (1,864) - 11,954 (1,773) 13,727 - 1,261 (528) 1,789 -

Current Month Year to Date Full Year

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Summarised Statement of Cash Flows

CategoryThis Mth Budget Variance Reason Forecast Budget Variance Reason

$000 $000 $000 $000 $000 $000 $000

3,117 Operating Net Cashflows 4,808 3,530 1,278 Suppliers & Payroll 3,419 3,046 373 Suppliers & Payroll

176 Investing Cash Inflows 187 5,905 (5,718) Timing of Property disposals 6,092 5,905 187 11 Rutland Street

2,200 Investing Cash Outflows 2,821 5,544 2,723 Timing of Capex 8,260 8,201 (59) Close to Budget

20 Financing Inflows 0 0 0 On Budget 0 0 0 On Budget

1,093 Net Cash Increase/(Decrea 2,174 3,891 (1,717) 1,251 750 501

8,556 Cash Balance 12,038 11,507 531 11,115 8,366 2,749

Full Year 2019

Actual Year To Date Year End Forecast

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Supporting Information Appendix I - TEC reporting template (submitted to PwC (data collection on behalf of

TEC) on 20 September 2020). Appendix II - Rolling Cash Flow forecast 31 August 2020 (submitted to PwC (collection

on behalf of TEC) on 20 September 2020.

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DATA REQUEST - ITPs monitoring for TEC - version 200819 Name of ITP: Spreadsheet as of (month / year): August 2020

1. FINANCIAL STATEMENTS

(Re)forecast

as of

20/07/2020

($'000's) 2020 2020 2020 2019 2020 2020 2020 2019 2020 2020

Revenues - educational and research activities 1,009 3,331 - 1,669 34,796 24,296 - 31,309 36,111 36,563

- of which revenues from the domestic students 1,398 950 - 58 6,387 7,085 - 9,411 10,346 8,720

- of which revenues from the international students 463 377 - 780 3,047 2,522 - 3,445 3,951 3,700

- of which research activities - - - - - - - - - -

Revenues - other activities 5 29 - 16 67 124 - 97 180 180

Total Revenues (+) 2,875 4,687 - 2,523 44,297 34,027 - 44,262 50,588 49,163

Expenses - personnel (2,247) (2,422) - (3,130) (19,079) (20,581) - (15,460) (29,289) (27,141)

Expenses - operating (1,579) (1,366) - (1,188) (10,412) (12,623) - (10,329) (17,480) (16,272)

Expenses - interest - - - - (6) - - - (29) (29)

Expenses - depreciation and amortisation (347) (320) - (276) (2,641) (2,380) - (1,745) (4,164) (4,306)

Expenses - abnormal (e. g. transformation costs) (9) (22) - (12) (205) (216) - (346) (154) (154)

Total Expenses (-) (4,182) (4,130) - (4,606) (32,343) (35,800) - (27,880) (51,116) (47,902)

Net Surplus (1,307) 557 - (2,083) 11,954 (1,773) - 16,382 (528) 1,261

Cash and cash equivalents + Short term financial investments 12,038 11,507 - 16,864 8,366 11,115

- of which cash on hand 2 - - 2 - -

- of which term deposits 1,500 - - 5,000 - -

- of which other Short term financial investments 10,536 11,507 - 11,862 8,366 11,115

Accounts receivable 13,369 958 - 11,666 9,362 9,551

Other current assets 16 7 - 32 40 40

Total current assets 25,423 12,472 - 28,562 17,768 20,706

Total non-current assets 110,502 109,485 - 110,036 111,022 108,974

Total Assets 135,925 121,957 - 138,598 128,790 129,680

Current Liabilities (w/o Revenues in advance) 6,622 5,327 - 8,187 6,880 7,072

Revenues in advance 6,008 7,167 - 1,993 11,182 10,302

ST loans and borrowings 4,105 3,818 - 3,879 3,758 3,811

Total current liabilities 16,735 16,312 - 14,059 21,820 21,185

LT loans and borrowings 606 370 - 290 450 604

Other long term liabilities - - - - - -

Total non-current liabilities 606 370 - 290 450 604

Total Liabilities 17,341 16,682 - 14,349 22,270 21,789

Equity (net Assets) 118,584 105,275 - 124,249 106,520 107,891

Operating receipts (+) 3,343 4,151 - 6,627 35,182 37,946 - 34,136 50,085 48,136

Operating payments (-) (4,290) (4,756) - (3,670) (30,374) (34,416) - (25,670) (47,039) (44,717)

Monthly results as of August 2020

Instructions: Please, complete all fields in light yellow as appropriate.

Universal College of Learning (UCL)

Single month movements not required


Year-to-date results as of August 2020 Full Year 2020

Actual Original Budget Actual BudgetForecast

(if available)Actual Actual Original Budget

Forecast

(if available)

APPENDIX I


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(Re)forecast

as of

20/07/2020

Actual Original Budget Actual BudgetForecast

(if available)Actual Actual Original Budget

Forecast

(if available)

Operating cash flow (947) (605) - 2,957 4,808 3,530 - 8,466 3,046 3,419

Financing receipts (+) - - - - - - - - - -

Financing payments (-) - - - - - - - - - -

Financing cash flow - - - - - - - - - -

CAPEX (-) (233) (1,105) - (97) (2,821) (5,544) - (1,296) (8,201) (8,260)

Asset sales (+) 9 - - - 187 5,905 - 394 5,905 6,092

Other effects (+/-) - - - - - - - - - -

Investing CF (224) (1,105) - (97) (2,634) 361 - (902) (2,296) (2,168)

Total Cash Flow (1,171) (1,710) - 2,860 2,174 3,891 - 7,564 750 1,251

Opening cash balance 13,209 13,217 - 14,004 9,864 7,616 - 9,280 7,616 9,864

Closing cash balance 12,038 11,507 - 16,864 12,038 11,507 - 16,844 8,366 11,115

2. EFTS AND APPLICATIONS

Total EFTS Enrolled for Year 3,030 - - 3,090 3,342 2,967

- of which domestic 2,813 - - 2,879 3,127 2,765

- of which international 217 - - 211 215 202

YTD EFTS delivered 2,079 2,247 - 2,099 3,342 2,967

- of which domestic 1,913 2,110 - 1,957 3,127 2,765

- of which international 166 137 - 142 215 202

Total student applications 9,997 - - 10,875 - -

3. ROLLING CASH FLOW FORECAST

Rolling Cash Flow Forecast as prepared by the management - can be attached as a separate document


APPENDIX I


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UCoL - UNIVERSAL COLLEGE OF LEARNING - Monthly Cashflow Forecast

Aug-2020 Sep-2020 Oct-2020 Nov-2020 Dec-2020 Jan-2021 Feb-2021 Mar-2021 Apr-2021 May-2021 Jun-2021 Jul-2021 Aug-2021

Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast

Cashflows from Operating Activities

Cash will be provided from:

TEC Funding 2,756 2,561 2,561 2,561 2,561 2,288 2,803 2,673 2,608 2,599 2,599 2,599 2,799

Student Fees & Other Revenue 652 783 725 233 244 3,702 3,749 1,393 350 919 856 3,453 1,497

Interest Income 15 10 5 5 5 13 11 4 4 4 4 4 4

3,423 3,354 3,291 2,799 2,810 6,002 6,563 4,070 2,962 3,522 3,459 6,056 4,300

Cash will be applied to:

Payroll 2,470 2,221 2,321 2,242 2,157 2,421 2,421 2,421 2,421 2,421 3,632 2,421 2,421

Operating 1,744 1,369 1,935 1,345 679 1,784 1,221 1,679 1,515 1,227 1,343 1,927 2,378

Interest 0 0 0 0 0 0 0 0 0 0 0 0 0

GST 156 (44) (152) (168) (263) 410 255 244 (208) 29 (348) (79) 257

4,370 3,547 4,105 3,419 2,573 4,615 3,898 4,344 3,729 3,678 4,627 4,269 5,056

Net Cash Used in Operating Activities (947) (193) (814) (620) 237 1,387 2,665 (273) (767) (156) (1,169) 1,787 (757)

Cash Flows From Investing Activities


Property Sales 0 0 0 0 5,905 0 0 0 0 0 0 0 0

Sale of Other Assets 9 0 0 0 0 0 0 0 0 0 0 0 0

9 0 0 0 5,905 0 0 0 0 0 0 0 0


Regular Capital Expenditure 233 1,593 905 769 2,172 958 412 300 250 250 250 250 250

233 1,593 905 769 2,172 958 412 300 250 250 250 250 250

Net Cash Used in Investing Activities (224) (1,593) (905) (769) 3,733 (958) (412) (300) (250) (250) (250) (250) (250)

Cash Flows From Financing Activities


Dividends Received 0 0 0 0 0 0 0 0 0 0 0 0 0

Loan Drawdown 0 0 0 0 0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0 0 0 0 0


Loan Repayment 0 0 0 0 0 0 0 0 0 0 0 0 0

Crown Loan/Equity Repayment 0 0 0 0 0 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0 0 0 0 0 0

Net Cash Used in Financing Activities 0 0 0 0 0 0 0 0 0 0 0 0 0

Net Increase/(Decrease) in Cash Held (1,171) (1,786) (1,719) (1,389) 3,970 429 2,252 (573) (1,017) (406) (1,419) 1,537 (1,007)

Add Opening Cash Brought Forward 13,209 12,038 10,252 8,534 7,145 11,115 11,544 13,796 13,223 12,206 11,800 10,382 11,918

Total Ending Cash Carried Forward 12,038 10,252 8,534 7,145 11,115 11,544 13,796 13,223 12,206 11,800 10,382 11,918 10,912

APPENDIX II


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Documents

UCOL BOARD MEETING