The S.Thomas’ Preparatory School Old Boys’ Union Trust Fund was created in February 2006, The OBUTF was created as an initiative of the then Secretary and Treasurer of the OBU, Mr. Johanne de Zylwa and Mr. Manindra Wickremesinghe. Mr. Kavinda Dias Abeysinghe was a Trustee for many years. At present the Board of Trustees comprises the Headmaster, Rev. Nihal Fernando, Mr. Sithambaram Sri Ganendran (Ex-officio as the Hony. Secretary of the OBU) and Mr. Mohamed Sulaiman Nishtar (Ex-officio as the Hony. Treasurer of the OBU).
The funds of the OBUTF are maintained distinct and separate from the funds of the OBU and are currently held at the National Development Bank (NDB) of Sri Lanka (rated A+(LKA) by Fitch Ratings). The funds, amounting to approximately Rs. 7.8 Million, are accounted for, audited and a Report on the OBUTF is submitted to the Members of the OBU at every Annual General Meeting as part of the Annual Report of the OBU.
The Objects of the OBUTF include providing better facilities for the advancement of knowledge and for educational, sports, cultural and religious activities in School, to provide financial and other assistance to deserving students of the School by way of Scholarships and Bursaries, to construct additional buildings, repair, maintain, renovate and effect structural alterations to the existing buildings, the Swimming Pool, the Sports fields and other property of the School, to equip and maintain the science laboratories and the School library and to afford facilities to raise teaching standards.
The funds from the OBUTF have been used to finance several requirements of the School in terms of the above Objects set out in the Deed of Trust. The Staff Attendance Incentive which was introduced as an inducement to retain the services of teachers who might be compelled to move to other opportunities that offer better salaries is one of the most important initiatives for which the funds of the OBUTF have been utilised. This Incentive also resulted in a 95% improvement in the attendance by the staff. During the recent years, the disbursement from the OBUTF were utilized to assist the School’s distance learning initiatives as well as for the Staff incentive payments.
CURRENT EXECUTIVE COMMITTEE