EC Meeting Papers July 2018

General Secretary’s Report.

Executive Committee.

July 2018

This report accounts for main activities and issues since the last Executive in Edinburgh.

1

New Build.

1.1 Construction continues apace and on time. The hotel manager’s reports do not indicate any loss of business to date and weddings have left contented.

1.2 There are several items not in the overall construction budget. These are: a) the potential costs of reorganising the mews houses interior layouts to be more attractive to potential tenants; costs for this are being worked up currently: b) the costs of new hotel offices estimated at £35,000 following three tenders; the costs of screening the front of the entrance way to the building which was unattractive to arriving guests around £1,500; additional expenses on road access license £50,000, potential additional legal fees. There is a potential large cost of up to £50,000 to dispose safely of two dumps of asbestos roofing materials and sheeting found during excavation. There is a reasonable chance that some of these costs will be offset against reductions in expenditure elsewhere in the project . I would request that the EC authorises me to manage and monitor such costs to the best of my ability in conjunction with the project manager.

1.3 Daily site meetings are held with the Hotel Manager and I attended the first monthly site meeting. I have weekly communication with the Project Manager.

1.4 Our solicitor maintains that the transfer of title to the Educational Trust was undertaken incorrectly. Rather than commence a legal dispute with our conveyancing solicitors at the time I approached them directly and sought an explanation. They cite incite instruction by our advisor at the time (now deceased). In response our lawyers advise they believe that we should commence action against our previous conveyancing lawyers. I will manage this to minimise costs . I would propose that the EC authorises President’s and General Secretaries action on this.

1.5 Licenses between the Educational Trustees as owners and the GFTU and GFTU Trading Company as hotel owner, will need to be approved shortly.

2

Finances.

The accountant will attend the meeting at 1.30pm.

2.1 A copy of the final nursery accounts is submitted for your information and the signature of the nursery directors.

2.2 A copy of the consolidated GFTUET accounts is submitted for your information and consideration. These convey the most detailed and best overall picture of the organisation. They await the final wording of the ET annual report and the final sign off by the Trustees.

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