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Northumbria University

Northumbria University . University Finances David Chesser, Deputy Vice-Chancellor & Finance Director. Key Business Principles. Four key business principles:- Maintain change strategy and investment in change Continue to grow and diversify activities that make a positive contribution

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Northumbria University

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  1. Northumbria University University Finances David Chesser, Deputy Vice-Chancellor & Finance Director

  2. Key Business Principles Four key business principles:- Maintain change strategy and investment in change Continue to grow and diversify activities that make a positive contribution Prioritise quality Concentrate on front line activities while maintaining a fit for purpose infrastructure

  3. Sources of Funding £m % HEFCE 67 NHS 21 TDA 3 Total Public Funding 91 43 UK Tuition Fees 50 24 Overseas Tuition Fees 25 12 Research Contracts 8 4 Collaborative Ventures 7 3 Short Courses & Consultancy 6 3 Service Income 25 12 TOTAL 212100

  4. Financial Policy

  5. University Spending Be careful how we spend University money Public Scrutiny Support of Core objectives Value for Money Expenditure Policy Zero Based Budgeting

  6. Lower our Cost Base £1.78 at Tesco, Asda & Sainsbury's According to Delia Smith, Waitrose own brand deliver similar quality to the branded version but cost £1.21

  7. Fundamental Review of Costs Protect front line activities Remove duplications and waste Re-emphasise materiality

  8. Summary We are in reasonable shape Focus on priorities and react in a measured and consistent manner Be efficient and effective Enhance the sustainability of the University

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