Budget Briefing 201112.ppt

Presentation title, edit in header and footer (view menu) Budget Briefing 2011/12 Catherine Whalley - PRAS Stephen Purbrick - Finance What this presentation will cover Budgeting process – timeline JRAM allocations for 2011/12 – informed by: HEFCE grant for 2011/12 Fee income for 2011/12 Services’ budgets for 2011/12 Infrastructure Charge allocations for 2011/12 Setting the 2011/12 budget Future challenges and the University’s response Page * S Page * S Budgeting Process October 2010 Academic divisions tasked with identifying non pay savings of 5% Services tasked with delivering year 2 of agreed 3-year savings targets January 2011 Divisions and services plans reviewed February Service costs for 2011/12 agreed by PRAC and divisional 123 charge allocations for 2011/12 calculated March HEFCE grant letter received and JRAM allocations for 2011/12 calculated April Budget targets agreed by PRAC June Budget review meetings July Final 2011/12 budget agreed Page * C HEFCE grant allocations for 2011/12 (1) ? 2010/11 (March 2010) 2010/11 (March 2011) 2011/12 (March 2011) difference between 2011/12 and 2010/11 (March 2011 figures) ￡m ￡m ￡m ￡ % TOTAL 189.6 184.8 187.3 2.6 1.4% mainstream T grant 58.2 55.6 53.1 -2.5 -4.5% mainstream R grant 123.8 121.7 127.1 5.4 4.5% Other (WP, Libraries, Museums etc) * 7.6 7.5 7.1 -0.4 -5.3% * Not including HEIF HEFCE grant allocations for 2011/12 (2) Teaching funding Continued reductions in T funding. Research funding QR: concentration through movement of weightings (for 4* – 3* – 2* – 1* – unclass) from 9 – 3 – 1 – 0 – 0 to 9 – 3 – 0.294 – 0 – 0 Charity support stream: Drop in rate per ￡ but our volume has increased faster than the sector’s volume. Business support stream: EU Overseas volume now included in HEFCE calculations. PGR funding: the rate of funding per PGR FTE has fallen again. Page * C Fee income for 2011/12 (1) Fee income for 2011/12 is currently forecast to be ￡11.6m (8.9%) more than that budg