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The COUNCIL begs leave to report to the University as follows:
1. This Report proposes University consent to the recognition of Homerton College (at present an Approved Society in the University, with Trustees) as a full College in the University, governed by a Principal and Fellows, and recommends the steps which the University will need to take to achieve this.
2. The Council has received from the Trustees an application for the University's consent. The Council set up a Committee of members of the Council to consider the matter, comprising Dr G. A. Reid (Chairman), Dr N. Bampos, Professor W. A. Brown, and Ms D. Lowther, with the Administrative Secretary, and the Director of Finance as financial adviser. The Committee received extensive constitutional, educational, and financial information from the College, which were discussed in detail with representatives of the Trustees and with the Principal and College officers. The Council wishes to express its appreciation of the thorough and detailed work of the Advisory Committee.
3. After discussing the report of the Advisory Committee the Council is satisfied that the College is in a sound position, in terms of educational provision and otherwise, to move to full College status at an early date. The draft Petition, Charter, and Statutes can be seen on the College website (http://www.homerton.cam.ac.uk/).
4. The Council has had regard to the criteria for various changes in the status of Colleges (Approved Society, Approved Foundation, and College) as set out in 2005 in the Council's Report, dated 12 December 2005, on Hughes Hall and on the criteria for recognition as a collegiate institution in the University (Reporter, 2005-06, p. 218). The Council has noted that currently, Homerton College's financial resources fall somewhat short of the minimum endowment for a College of its size and composition as defined by the Colleges Fund Committee. This is owing to recent sharp changes in market valuations of investments since the last published accounts of the College, when the College's endowment was sufficient to meet the Colleges Fund Committee's requirement. The College is clearly well-managed and appears unlikely to need support from the Colleges Fund. In this situation the Council does not believe that there is any financial impediment to the recognition of Homerton as a full College. In this connection, it is relevant that the College has indicated that it does not intend to make any application to the Colleges Fund for a period of five years from the granting of a Royal Charter.
5. An element of the College's endowment is the potential value of some land suitable for development, the planning status (and therefore exact valuation) of which is subject to the outcome of continuing planning procedures. The Advisory Committee has reported to the Council satisfactory undertakings by the College to ensure the continued inclusion of the value of this land in the calculation of the financial resources of the College, unless that situation is varied with the consent of the University's Finance Committee. The exact valuation of the land is necessarily subject to the eventual outcome of planning processes.
6. At present there are regulations for Homerton College as an Approved Society (Statutes and Ordinances, p. 988), but with full Collegiate status there appears to be no continuing need for them and the Council recommends that they be rescinded.
7. Homerton College will be included in the cycle for the nomination of Proctors at the next revision. The College is already included in the schedule of quotas for professorial Fellowships.
8. The Council therefore recommends:
I. That, subject to the approval of Her Majesty in Council and with effect from the date of the approval of the draft Charter and Statutes for Homerton College, the Statutes of the University be amended as set out below and that this amendment be submitted under the Common Seal of the University to Her Majesty in Council for approval:
COMMENCEMENT, INTERPRETATION, INVALID PROCEEDINGS
By adding 'Homerton College' in paragraph (a) after 'Hughes Hall'.
II. That with effect from the same date the regulations for Homerton College (Statutes and Ordinances, p. 988) be rescinded.
|15 December 2008||ALISON RICHARD, Vice-Chancellor||NIGEL BROWN||F. MORRISSEY|
|DAVID ABULAFIA||WILLIAM BROWN||DAVID SIMON|
|ROSS ANDERSON||M. CLARK||LIBA TAUB|
|TONY BADGER||S. J. COWLEY||JOAN M. WHITEHEAD|
|A. P. BAGSHAW||F. P. KELLY||RICHARD WILSON|
|NICK BAMPOS||D. W. B. MACDONALD||S. J. YOUNG|
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Cambridge University Reporter 17 December 2008
Copyright © 2008 The Chancellor, Masters and Scholars of the University of Cambridge.