12:32PM, Thursday 25 October 2012
A five year recovery plan to get Windsor Boys School back on a sound financial footing has been agreed between governors and the Royal Borough.
At last night's cabinet meeting members agreed the plan, which will see the half a million pound debt built up by the school treated as a loan and paid off within five years. It is hoped the school can repay the lions share (£271,680) within two years.
A report presented to councillors blames the debt largely on two initiatives by the school that went badly wrong.
The first was the decision to sell consultancy services to other schools, the second initiative saw the establishment of the much touted Skills Centre offering vocational courses to 14 to 19-year-olds.
Neither attracted the support from other schools needed to be financially viable and both have now been abandoned, leaving an expected final debt of £654,000 in their wake for this financial year.
Although responsibility for the debt rests with the school's governors of the time, the report acknowledges that effective communication with the Royal Borough was lacking. In future the school will submit monthly progress reports.
The Royal Borough decided against a shorter time to repay the debt, as it would have necessitated more redundancies and added to the deficit.
The agreed plan will see the school management team reduced and one teaching post lost through natural turnover.
Other items discussed at the cabinet meeting:
*Councillors agreed to consult with the public over plans to increase the number of pupils catered for at Manor Green School in Elizabeth Hawkes Way, Maidenhead from 150 to 225.
*Royal Borough's libraries could soon be open on Sundays.
Councillors agreed to trial Sunday opening at libraries in Maidenhead, Windsor, Cox Green and Sunningdale container library.
*Councillors are looking for a 'development partner' to help them provide sheltered housing for older people and 18 homes for people with learning disabilities at Ray Mill Road East, Maidenhead.
Top Ten Articles
The Met Office has issued a yellow weather warning for London and South East England and some places are likely to see 'severe' thunderstorms, with a small chance of flooding and travel disruption.