PLANS FOR THE FUTURE The Savoy Educational Trust works within the very diverse and evolving sector of hospitality.
The
Trustees therefore need to take account of and be influenced by what is happening in the industry particularly with reference to the long term challenges it faces. At the same time the Trust operates in the world of education and therefore also needs to embrace current developments in that area. This is particularly pertinent at a time of large-scale funding constraints in both Higher and Further Education and the fact that from September 2012 Universities and Colleges in the public sector in England will be able to charge new full-time students up to £9,000 a year. At the same it is widely acknowledged that globally countries have realised that education and skills are one of, or even the, most important lever they have to maintain the competitiveness of their economies.
It is also the
case that vocational courses, when delivered correctly, can engage, enthuse and educate young people.
The Trustees believe that by monitoring and considering the environment in which they operate and taking into account of external factors when developing and reviewing their strategic objectives, they can continue to help support those projects that should, in the long term, demonstrate considerable impact, create value, and make a difference to the advancement and development of education, training and qualifications within the hospitality industry.
At their 9th March 2011 meeting the Trustees agreed to award a grant of £600,000
University.
to Oxford Brookes With
government 2:1
matched funding the grant rises to £900,000.
The funds will support the
creation of a student learning space within a new building that will house the Oxford School of Hospitality Management. It will include a student board-room, areas for undertaking
group-work, a ‘learning-
lounge’, and café. Construction which will begin in 2013, forms part of a complete refurbishment of Oxford Brookes’ main campus.
The University’s ambition is to create the best
possible learning and research facilities that will enhance its international reputation. The grant from the Trust will be paid shortly after 1st April 2011 to ensure the University can benefit from the government’s matched funding scheme which ends on the 31st July 2011.
In the forthcoming year it is anticipated that the following changes may also be implemented:- • The Trustees will continue to monitor developments with regard to the implementation of the legal form of Charitable Incorporated Organisation. • As part of the process of incorporation the Trust Deed will be updated and rewritten and consideration will be given to increasing the Trustee number. • The Trustees will review the Trust’s positioning and future status. • Consideration would be given to commissioning an independent impact report on the Trust’s funding. The report would also help answer the question ‘How does the Trust create value?’ • The Trustees will continue to give emphasis to projects that support one or more of the following areas: skills development, retention, continuous professional development, and those projects that demonstrate community involvement, long term sustainability and have due regard to the environment.
Margaret Georgiou
Margaret Georgiou Trust Administrator and Secretary to Trustees
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