Wykeham Journal 2016 | Page 17

of the College ’ s estate and we regard them as a very special responsibility . Such responsibility comes with a price tag , £ 0.6 million this year and £ 0.8 million the previous year . Our aim is to maintain them sympathetically while not forgetting that they are working buildings . The development of the Treasury is an example of how medieval buildings can be adapted for 21st Century use in a sympathetic and inspiring way . Conservation , not preservation . Our expenditure on the Quiristers and ancient buildings is these days far outstripped by bursaries . In the academic year 2015 / 2016 , 127 boys received bursaries with school fees totalling £ 2,969,000 , and a further £ 12,000 was provided towards the cost of extras and school trips to allow all boys to play a full part in the life of the school . In total , 130 pupils received some form of bursary support and our expenditure was the equivalent of over 83 full fees and 12 % of gross fee income . In addition , scholarships and other awards totalling £ 286,000 were given to 79 pupils so that , overall , 183 pupils received fee awards totalling £ 3,267,000 , representing more than 13 % of gross fee income . The start of the new academic year ( 2016 / 2017 ) saw a slight fall in the number of bursary recipients to 122 pupils but the value of those awards continues to increase and has now broken through the £ 3 million level . The award offered to each family reflects their individual circumstances and need for support . Awards range from 5 % to more than the whole school fee , so as to allow the broadest possible range of pupils to attend the College . Nearly 1 in 5 pupils currently in the school receives some form of support and , for those on bursaries , the average award is two-thirds of the school fee . In 2015 / 2016 , 88 pupils received support equivalent to 50 % or more of the school fee ; among these , 49 pupils received awards of 80 % or more and sixteen 100 %. The 2016 / 2017 awards show more of the same . We are fortunate that the school has the resources to support so many and offer the best possible opportunities to those boys who can best profit from them . Less happily , recently we have found ourselves in the unfamiliar position of having to limit the bursary awards we can make for the first time .

As parents and their sons become increasingly aware of what is available , and we become more practised at reaching those who need our help , demand is growing more strongly than our ability to meet it . We have come a long way since 2004 / 2005 when just 25 pupils received bursaries totalling £ 208,000 at an average award of 37 % of the then school fees , but we risk running ahead of ourselves . The simple truth is that , at present , the Bursary Fund is far from sufficient to meet the demand and the school has to top it up from general funds . Even if the whole of the endowment could be applied , it still would not be enough . The dedicated Bursary Fund currently stands at £ 13,602,000 and generates a welcome £ 339,000 of income each year , which was supplemented by £ 125,000 of annual giving this year . The discrepancy with the amounts actually being spent is clear and the recent rate of increase of expenditure on bursaries is unsustainable . The school cannot safely do more until the Bursary Fund becomes larger . Barton Farm and other investments will play their part over time but they will not remove the continuing need for fundraising . In the meantime , we are having to limit the number and value of awards offered and make difficult choices in prioritising who can and cannot be supported .

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