RCVS questioned over its financial reserves

25 Jul 2020

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By Josh Loeb

Senior figures at the RCVS were quizzed about the college’s financial reserves strategy at its annual general meeting on 10 July.

Financial documents released by the college in advance revealed that it has approaching £20 million in its reserves – a sum that, some have argued, might be used, at least in part, to fund a fees cut for vets and vet nurses.

At the meeting, which took place virtually, a letter submitted by the BVA president Daniella Dos Santos on behalf of members of the association was read out. In it, Dos Santos asked for more detail about what the college planned to do with its extensive financial safety cushion.

She said: ‘We note that in the Annual Report and Financial Statements 2019 the RCVS reported £18.7 million in reserves – £10.1 million above the target of £8.6 million.

‘Specifically, I would like to ask...