1. 1 UK Project Finance & Schedule

2. Overview Finance  Budget Setting 2013/14  June Finance  Forward look to complete stepVI Schedule  Overview 2

3. Budget Setting for FY 2013/14 – OsC April 3 This budget has been revised downwards yet still allows delivery of all major items & infrastructure for step IV operation. Staff costs have been reduced in the following work packages:  Project management office  Hydrogen system  Operations & Analysis – management and systems experts Fixed costs reduced in the following:-  Hydrogen System  Operations & Analysis Options are being considered to reduce this overspend of 7.4%

4. Budget for FY 2013/14 – Saving Option 1 4 Saving Option 1 Don’t build the new rack and control room  Disadvantages  Worked for some considerably time to get agreement from ISIS for this not to go forward this yr  Cooling Channel Control Racks will have to go behind North wall for step IV then re-routed to the new rack room for step VI. Effectively doing the electrical installation twice  Staff morale will be low Staff costs have been reduced further in the following work packages:  Project management office  Hydrogen system This option reduces overspend to 1.9% OsC last mtg advised that agreement with ISIS for this space was a priority

5. 5 Budget for FY 2013/14 – Saving Option 2 Saving Option 2 Cease work on RF work package – Plan to miss the TIARA milestone  Disadvantages  TIARA income of £35k this yr until end December to demonstrate RF power operational in MICE hall. Would not be able to use this income.  Damaged reputation of STFC Staff costs have been reduced further in the following work packages:  Project management office  Hydrogen system This option reduces overspend to 4.7%

6. MICE Finance – June 6 Income:- External Common Fund:- £88k TIARA - £33.75k EUCard:- Assumed same as last yr £34k Encumbrances:- £48k Negative Variance £139k When setting budget projected overspend was £134 – 3 months in we are where we think we should be Was agreed we could run with this overspend and review in October Staff OTL bookings being monitored

7. Forward Look Spend to Step VI 7 Assumes flat cash allocation Some levelling still to do for 2017/18 onwards Proposed delivery date of RFCC#2 means an allocation will be required in 2019/20

8. Schedule Overview Base level schedule that is – racks are installed behind North wall. Infrastructure work to move compressors to west wall included all compressors installed on West Mezzanine – compressors not installed till Feb 2014. SS’s & Tracker’s assembled in R9 then moved to MICE Hall. Magnet training of SS begins after cooling channel is installed (this includes EMR, KL & TOF) 15 weeks total for all magnet training after cooling channel is installed. Schedule shows Step IV completion now December 2014 – ‘This is work in Progress’ Spectrometer Solenoids & Trackers, installed in series due to limited resources. No return yoke installation shielding considered at this point 8

9. RF Success 9 After many set backs the RF project team has operated the TH116 at 2MW at Daresbury – a major milestone for MICE & TIARA