Finance Feedback Briefings (Financial Management Support)
Throughout February and March 2019, Finance ran a number of feedback sessions, open to the anyone within the University who wanted to find out more about the work so far on Stage 2 of the Finance Review Including: the progress; feedback; recommendations; and ongoing work across 9 recommendations made to UEB.
|Intro to briefings||
What were the sessions for?
The sessions allowed attendees to view the progress of Stage 2 of the Finance Review work. They included sharing feedback from the workshops we ran in summer 2018 as well as an overview of the recommendations which UEB have endorsed. We also shared the work we are doing in order to deliver against the recommendations and deliver a better financial management support service, including some exciting systems developments. Finally there was an opportunity for attendees to provide feedback on key themes such as the benefits of the new approach, challenges associated with making changes and anything attendees think we may have missed.
Who was invited?
The sessions were open to anyone from across the University who has an interest in financial management support and the services we offer. This included:
The drop-in sessions were open to people at all grades, across all functions.
How did the sessions work?
Attendees just turned up and worked their way round the different stands. Colleagues from the Finance Department were on hand to explain things in more detail, or to answer questions or capture comments etc. There was no set structure or time limit so attendees could leave whenever they had finished.
Below is a video to demonstrate the set up, take down of a session as well as the session in full flow.
BRIEFING STAND DETAILS
|1 How did we get here?||
Providing the context for the session, this stand included a timeline encompassing changes to financial support, from the formation of Faculties through to today and the finance review. A reminder of the communications relating to the review to date was also provided along with an overview of the work being carried out and the recommendations.
|2 What did we do last summer?||
Throughout the summer of 2018, we held 20 stakeholder sessions to find our more about the services provided and how colleagues managed finance. Over 200 colleagues from both finance and non-finance teams within the University participated in the sessions and gave their views on; the financial management of research grants, non-research finance, forecasting and planning, understanding financial performance and procure to pay.The outputs from the sessions, which were used to inform what financial management support will look like in the future, could be found in this section
|3 Recommendations & Benefits||
Following the stakeholder sessions and workshops, the output was used to develop a recommended approach and 9 key principles for financial management support. At this stand you could see a summary of the 9 recommendations agreed by the University Executive Board (UEB) and the associated benefits.
|4 What will our service look like?||
This stand offers you the opportunity to review the description of service covering the 3 combined strands of financial management support; (i) Management of Research and Other Activities (ii) Managing Financial Performance (iii) Procure to Pay (P2P).
|5 What is Financial Management Support?||
As part of providing financial management support we need to understand what finance activities currently occur.
|6 Recommendation detail||
This stand looked at the detail of the 9 recommendations, focusing on how these can be implemented, the progress so far and future planned activities.
|7 Challenges to delivery (& Mitigation)||
This stand is about the ‘challenges’ we might encounter when implementing the recommendations and how these can be mitigated.
|8 Feedback – What have we missed?||After reviewing the sections above, please can we ask that you take a further 5-10 minutes to give us your feedback and/or ask any further questions by clicking the link below.
Further feedback and questions can also be addressed via e-mail to: FinanceReview@Sheffield.ac.uk
Overall FEEDBACK Please take some time to feedback on anything you saw at the feedback session or have ready here today
Each of the recommendations will be worked through with the Assistant Director of Finance (Financial Management), Faculty and Professional Service Directors, Heads of Finance and the Head of Finance Systems and Change to implement the recommendations, to agree timelines and to develop implementation plans at a local level. The implementation plan will be continually reviewed to ensure that the recommendations are incorporated as soon as is possible into ‘Business as usual’ realising the benefits of the Finance review at the earliest opportunity.
Stage 3 (review of key processing functions) & 4 (review of stand along specialisms) will commence over the coming year. In the meantime, if you have any questions or concerns please email email@example.com.