From: Diamond Versi Organization: Keble College To: Roger Boden Date sent: Mon, 10 Mar 2003 12:06 Subject: Staff Loan - Mrs N Chaudhry
Dear Roger
Mrs Chaudhry has been a KC scout since February, 1996. Her current salary is £11,000.00 per annum. She came to see me for advice. Last December she travelled to Pakistan for the double wedding of her two brothers. As a result she has inadvertently accumulated credit card debts. I think we should help her by giving her a loan of £4,000.00. She can afford to pay £100.00 per month. The loan will consolidate all her debts. I have agreed this subject to your approval.
I look forward to your authorisation.
Regards
Diamond
From: Roger Boden Organization: Keble College To: Diamond Versi Date sent: Mon, 10 Mar 2003 17:23 Subject: Staff Loan - Mrs N Chaudhry
Dear Diamond
I'm not sure about this on two counts:
1. It's one thing to give assistance for travel or housing, but consolidation of credit card debts is a very different matter.
2. £4,000 is a large sum to lend unsecured, and a 40 month repayment programme leaves us exposed for an uncomfortably long time.
I'm happy to discuss this further if you feel there are precedents or other extenuating circumstances - but on the face of it I'm not persuaded - sorry.
Roger
From: Roger Boden Organization: Keble College To: Diamond Versi Date sent: Tue, 11 Mar 2003 09:10 Subject: Loans to staff
I perhaps should have been more aware than I currently am about the arrangements for making loans to staff. I'm sure it is right that we should be prepared to help staff in this way and we need a simple procedure that provides help quickly and preserves confidentiality as far as possible. On the other hand we are not talking about trivial sums and I think Finance Committee needs to oversee our activities in this area.
As a first step, I'd be grateful if you would let me have a list of loans outstanding, including name of borrower, start date, original loan amount, monthly payment, end date and any arrears experience. I'd also be grateful for your thoughts as to what we should be recommending to Finance Committee as a framework for future assistance to staff.
Many thanks
From: Diamond Versi Organization: Keble College To: Roger Boden Date sent: Tue, 11 Mar 2003 10:14 Subject: Loans to staff
See the attached spreadsheet. Password: time.
Ken left this to my good judgement. Under my management, where I have agreed staff loans, there was only one instance when the College lost £150.00 because Roger Timms disappeared and Janet Betts never informed me. If she had then we would have deducted this sum from his pay. I carefully vet the applicants. I do not dish out the College cash willy nilly. You agreed that I had an authority of up to £2,000.00. Has that now changed?
As for the FC I do not think they need to get involved as I feel we would then be advertising that the College is here to act as an alternative bank. This is a purely administrative matter. The purpose of the staff loans, as I see it, is to help the needy so that they become happy and effective employees. I am not happy authorising loans for the purchase of cars or other luxury items. From time to time people do make mistakes and overburden themselves with debts and if the College, as a caring employer, can step in to provide a temporary help without taking an unnecessary risk, then I think it should.
Finally the loan repayment is deducted from the monthly salary. So the arrears do not arise unless the employee disappears.
Please let me know if you need any other information.
From: Roger Boden Organization: Keble College To: "Diamond Versi" Date sent: Wed, 12 Mar 2003 09:11 Subject: Loans to staff
Thanks for the spreadsheet.
Whilst I agree that Finance Committee doesn't need to get involved in individual cases, I do think it should approve the principle and set the framework. So I would like to submit a brief report to the meeting on 14th May. In the meantime I should be grateful if, in the event of their being any further requests for help, you would have a word with me before approving them.
Thanks
From: Diamond Versi To: Roger Boden Subject: FC Minutes Date sent: Sat, 15 Mar 2003 13:40
I noticed that you did not copy the FC minutes of 5 March to me. I was on your distribution list. So it would appear that you have taken me off this list. Would you please confirm that I have been taken off the list and that in future I shall not receive FC minutes when you email them to the members of the FC.