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Making Your Budget Work Harder

Making Your Budget Work Harder. Chris Cobb Pro Vice-Chancellor. What, Why and How. Who The Stakeholder perspectives What Nature of budgets and the cycle of expenditure Why Funding/Policy pressure Price Sensitivity - Privatisation - Consumerism Something we should be doing anyway How

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Making Your Budget Work Harder

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  1. Making Your Budget Work Harder Chris Cobb Pro Vice-Chancellor

  2. What, Why and How • Who • The Stakeholder perspectives • What • Nature of budgets and the cycle of expenditure • Why • Funding/Policy pressure • Price Sensitivity - Privatisation - Consumerism • Something we should be doing anyway • How • Value for Money • Business Process Change/Restructuring • Shared Services

  3. Budgets Service Provider: “How can I reduce expenditure when simultaneously I’m being expected to increase service levels and costs are largely outside of my control” Academic: “What incentive is there to economise or seek alternative income when the budget is correspondingly reduced” Finance Director: “Budgets are not there to be spent!”

  4. Game Playing "The FCO is heading for an underspend and wants to get money out of the door. If we spend money in this financial year on a one-off basis then we can have at least £1m.“ Sir Andrew Cahn, (former) Chief Executive UK Trade and Investment source http://www.guardian.co.uk/politics/2011/jan/06/uk-trade-investment-budget-million Jan 2010

  5. Behind the scenes Its not just about income/expenditure and surplus/deficit • Balance Sheet • Depreciation • Cash Flow • Liquidity • Gearing • Loan Covenants

  6. Transparency • Attribution of income • Apportionment of overheads • Budget allocations • Strategic imperatives • Apportionment of balance Income Resource Allocation Modelling

  7. How ? • New Sources of Income • Value for Money • Business Process Redesign • Shared Services

  8. New Sources of Income • International Recruitment • Continuing Professional Development • Enterprise • Consultancy • Research • Estate – sweating the assets • Distance Programmes • Franchising • Services

  9. Value For Money • Economy • Efficiency • Effectiveness

  10. VFM example – E-Only

  11. Business Process Redesign

  12. Business Process Redesign Restructuring Case Study: • Focus on: • Academic Leadership • Student Experience • Communication • 4 Schools to 10 Departments • Centralised Administration – account management • 101 roles changes – 1 compulsory redundancy • Estate category A&B rose from ?? To ?? • Annual savings of £375k per year

  13. Shared Services

  14. Shared Services Source: JISC Shared Services Study Report 2. “Software currently in use for administrative systems in UK FE & HE. Undertaken by Duke & Jordon April 2008

  15. University Modernisation Fund • e-marketplace for procurement • JANET Brokerage Service for Cloud Infrastructure • National Data Curation Centre • Systems and Services Procurement Service • First project will be research management system • Electronic Resource Management Service • Secure Document Management Service

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