1. Finance Matters Derek Vokins derek.vokins@stfc.ac.uk Ext 6042

2. Scope Summary 2009/10 Outturn The finance cycle in a nut shell Project Codes GPC

3. Summary 2009/10 £17,820,000 £17,624,000 £ 196,000 £16,858,000 (£ 766,000) Allocation (Budget) Actual Expenditure Underspend February Outturn Forecast (OTF) Overspend against OTF  We need to do better…

4. The Finance cycle Operational Planning (Jan/Feb) Budgeting (Mar/Apr) OTF (Quarterly) Year end (31 st Mar)

5. Budget broken into expenditure types –Previously Pay, non-pay and Capital –Now many (but only if they apply) Quarterly Outturn forecasts –Need to be robust –Must include any additional income assumptions –Monthly update if material (significant) change –December - mission critical (you will be held to it!) The Finance cycle

6. Finance Matters… Project Codes –Direct mapping old to new –i.e SPiDeR STAK00023 –Broken down into Tasks to suit the project needs –i.e STAK00023 01, 02 etc. Tasks can be broken into sub tasks 01.01 01.02 02.01 02.02 etc –Will continue to be setup by Caroline

7. Example - SPiDeR FD35100 - PPD effort FD35200 - TD Effort FD35300 - Equipment FD35400 - Travel STAK00023 Task 01 - Spider Grants (SPO) Task 02 - Spider Other awards (SPO) Task 03 – SPiDeR RAL 03.01 – PPD effort 03.02 – TD Effort 03.03 – Equipment 03.04 - Travel

8. Finance Matters… GPC Skinny Records

9. Summary Avoid a repeat of 2009/10 Actuals/OTF Increased dialogue –Better forecasting Plan ahead –Things may take longer to happen!

10. Any Questions?