Budgeting for 2009/10 - PowerPoint PPT Presentation

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Budgeting for 2009/10

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  1. Budgeting for 2009/10 Guidelines for Departmental Administrators & Finance Officers

  2. The current position

  3. HEFCE grant 09/10 • Total grant up by £7.7m (4%) to £192.0m • Teaching funding down by £1.2m (2%) • Research funding up by £9.3m (8%) • Including charitable support funding up by £3.0m (12%) • Oxford did well in sector, better than Cambridge (2%), UCL (1%) and Imperial (0%).

  4. National protection of ‘sciences’

  5. Other factors • Pay – assume only 2% from 1 August, but need to factor in full-year affect on October’s 5% award • USS contributions increasing by 2% from 1 October • Utility costs falling sharply from 2008 levels • Interest on cash fallen sharply

  6. Changes in JRAM funds Note – figures are comparisons between 2008/09 after in-year adjustment and 2009/10

  7. Changes in the infrastructure charge • Services expenditure increasing by 4% (mostly inflation) before savings targets of £2.3m • To keep services deficit at 2008/09 levels, University funding to the services needs to increase by 7% • Services earning less direct QR and contribution from Colleges reducing, therefore infrastructure charge to the divisions needs to increase by 8% on average • Different impact on divisions reflect QR growth & changes is staff/student/space drivers

  8. Initial Five-Year Plan results

  9. Looking ahead • Government funding • Provided 40% of our income in 2008/09 • Commitment to reduce public expenditure from 2010/11 • Higher Education not immune, especially those areas where the government doesn’t see a rapid pay-back for the economy • Could hit HEFCE grants, capital funds and Research Councils • Impact on other research funders • Charities • Industry • Reduced income for Trust Funds • Increased employers NI contributions

  10. Draft savings targets

  11. University-wide initiatives • Staff • Tighter control over recruitment – no growth in University-funded posts • Non-pay • Greater use of University Purchasing section • Capital • review program to focus on protecting current income, regulatory needs & contributions to near-term financial position