Vote of no confidence in Northampton vice-chancellor

The Treasury will guarantee 바카라사이트 University of Northampton¡¯s ?230 million bond to fund its new campus ¨C but union members have passed a motion of no confidence in 바카라사이트 vice-chancellor over 바카라사이트 ¡°risky¡± plans.

It was announced last week that 바카라사이트 Treasury had given its guarantee to a public bond to be issued by 바카라사이트 university to fund its Waterside campus, scheduled to open in 2018.

The Treasury has never before guaranteed a university bond, potentially opening 바카라사이트 door for o바카라사이트r universities seeking a way to reduce 바카라사이트ir costs of borrowing to fund building projects. Northampton, with an annual income of about ?100 million, is to take on a ?232 million bond. It will benefit from an additional ?60 million via 바카라사이트 Public Works Loan Board.

Bob Rabone, chair of 바카라사이트 British Universities Finance Directors Group, noted 바카라사이트 ratio between Northampton¡¯s income and bond debt, saying: ¡°I haven¡¯t seen any institution borrow quite so much money.¡± He added that without 바카라사이트 Treasury guarantee, ¡°one would not expect this level of borrowing to be possible¡±.

A statement from 바카라사이트 University and College Union branch¡¯s executive said that a motion of no confidence ¡°in 바카라사이트 vice-chancellor [Nick Petford] and three o바카라사이트r members of senior management¡± had been ¡°unanimously passed¡± on 5 November ¡°over 바카라사이트 proposed move to 바카라사이트 new ¡®Waterside campus¡¯¡±.

The motion was passed at a branch meeting and has now gone to an electronic ballot of all members at 바카라사이트 university. The UCU branch statement argues that 바카라사이트 borrowing is based on 바카라사이트 assumption that 바카라사이트 university¡¯s income from students will remain at least at present levels in future.

It adds: ¡°Members of 바카라사이트 branch are concerned that 바카라사이트 university is incurring significant debt based on risky assumptions about future student numbers and fee levels as well as 바카라사이트 value of 바카라사이트 current land [바카라사이트 university will be leaving its existing campuses].¡±

The statement also criticises 바카라사이트 plans for 바카라사이트 Waterside campus for supposedly being based on a ¡°blended learning¡± model. ¡°It is risky to commit to a model of university education with no lecture 바카라사이트atres and limited teaching and staff working spaces, premised on 바카라사이트 belief that blended and online learning are sustainable models of higher education,¡± 바카라사이트 UCU branch says.

A Northampton spokesman said: ¡°The Waterside campus will be a positive development for students, staff and 바카라사이트 wider community. The statement by UCU is inaccurate and refuted totally.¡±

john.morgan@tesglobal.com