Finance

The University is entering the period 2010–2015 in a strong financial position. But there are challenging times ahead. We need to continue our investment in the people and facilities required to deliver the University’s academic strategy.

Our financial priorities over the period 2010–2015 will be to:

• Continue to diversify the range of sustainable income sources and increase the proportion of unrestricted income. We will do this by growing the number of post-graduate students, increasing the level of research activity funded by industry and charities, and deepening relationship with our network of alumni to encourage more people to support their University through philanthropic gifts.
• Focus on ensuring value for money in all our core and supporting activities.
• Continue to increase the transparency and timeliness of financial information to enable better decision making, and more locally-based financial decision making where appropriate. Our finance and procurement system will be continually improved to support this aim.
• Encourage the appropriate level of growth within faculties, based on a robust approach to resource allocation reflecting both income and costs.
• Ensure high standards of financial probity and accountability through robust financial processes and ensure that the University’s financial strategy targets are met.

For more detail, and information about specific actions relating to this area, please see Finance.