The Financial Operating Strategy

The University’s Financial Operating Strategy is agreed by Council after consideration by Finance Committee. It is developed to support and enable the University’s Strategic Plan and it sets out the strategic financial objectives for the University and the measures which will be used to ensure the objectives are met.

The overall financial goal of the University is to provide a robust, solvent and sustainable financial position that supports the University’s core activities and which facilitates the strategic planning, development and implementation of activities and decision making in all academic and support areas to achieve the University’s vision.

The Strategy has eight distinct sub objectives that support achievement of the overall goal.

  1. Maintaining long term financial sustainability.
  2. Maintaining solvency.
  3. Achieving Value for Money in our core and supporting activities.
  4. Ensuring high standards of financial probity and accountability.
  5. Increasing the value and diversity of income from public, private and business sources.
  6. Maintaining a clear and robust approach toward financial planning, decision making and the allocation of resource.
  7. Ensuring that the financial risks associated with ongoing activities and new opportunities are communicated and managed appropriately.

The University also has an agreed set of financial targets that it aims to achieve to ensure that it is operating on a financially sound basis.

Surplus generation from underlying activities 1.8% of income with a minimum of 0.3%

Each year the University aims to generate a surplus from its underlying activities of 1.8% of the income that it has generated in that year.

Adjusted operating cash flow

This is a metric determined by HEFCE to measure financial commitments as a % of operating cash flow. Financial commitments include loan funding repayment obligations, finance leases, repayable grants.

15 days liquidity

At all times the University aims to have available cash or assets that can easily be converted into cash (known as liquid assets) that are sufficient to cover expenditure for an average 15 days.

 You can see the full strategy through the link on this page.

Need Help or More Information?

Who to Contact
A Finance Manager supports Academic Departments or Professional Services Departments with queries relating to departmental expenditure and budgets.