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Published byBianca Oulton Modified over 9 years ago
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Northumbria University University Finances David Chesser, Deputy Vice-Chancellor & Finance Director
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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 Key Business Principles
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Sources of Funding £m% HEFCE67 NHS21 TDA 3 Total Public Funding91 43 UK Tuition Fees50 24 Overseas Tuition Fees25 12 Research Contracts84 Collaborative Ventures73 Short Courses & Consultancy63 Service Income2512 TOTAL212100
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Financial Policy
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Be careful how we spend University money Public Scrutiny Support of Core objectives Value for Money Expenditure Policy Zero Based Budgeting University Spending
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£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 Lower our Cost Base
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Protect front line activities Remove duplications and waste Re-emphasise materiality Fundamental Review of Costs
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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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