Finance Roy Preece STFC RAL Oversight Committee Meeting 27 th November 2015

Current Status Finance 2

Finance Current Status 3 All income, Encumbrance, Re-Charge accounts and adjustments included in the sheet. The HMRC cost of £104k is included in the Mechanical work package forecast. The cost is against baseline financial codes but in the event of the cost migrating to the project it has been accounted. PPD Baseline Staff specifically called out and removed from the totals – not included in the budget figures University spend is not monitored and a linear spend profile has been calculated. This Financial year is predicted to be overspent by ~£31k. Further investigation of the historical actuals are required to ensure the variance against approved budget is correct Some uncertainly is in mind particularly during the period of financial system change

Finance Current Status 4 The capital project, including the HRMC forecast charge, is predicting a £114k overspend The Resource projects with overheads added is predicting an £86k underspend (with income included £98k) Using the figures including overheads The lower table is showing the capital and resource projects forecast without overheads Work package managers have confirmed the individual forecasts for equipment spend. The outturn has been submitted to the finance department at RAL

Cost to Complete Finance 5

Finance Cost to Complete 6 Slide shown at the recent RLS/MPB Construction complete – July 2017 Commissioning complete – Sept 2017 Data taking complete – March 2018 Significant increase in the RF work package – more detail on the next slide Includes 3FTE of ISIS support staff each FY. Ramping down of Technical staff and non staff costs toward the end of FY2017/18 Operational staff will continue to be required to the end of operations Cost estimate for FY18/19 have been included to account for final data analysis, paper writing…. Additional costs for operational staff have been included in the event of further data taking during the early part of the FY.

Finance Cost to Complete 7 To report inline with the proposed schedule the RF work has been levelled The profiles have changed Base 16/17 - £3.6m Levelled 16/17 – £3.38m Base 17/18 - £2.7m Levelled 17/18 - £3.1m The 18/19 Base and Levelled are the similar except for the addition of some equipment and labour risk. These figures assume that all work is complete and the staff are released from the project.

Finance Cost to Complete 8 STFC staff to University staff that contribute to the FTE’s on the previous slide. The two bar charts show the effect of the FTE levelling

Finance Cost to Complete 9 STFC Cost for staff and equipment only Budget figure used for the variance calculation is the same as this financial years total budget – Capital and Resource

Finance UK Cost to completion 10 Allocation and required figures include risk mitigation costs for equipment and staff Allocation approved to FY 15/16, proposal for the final years of the project in the new year. The 2018/19 FY request is for data analysis, paper writing …. And does include a fraction of Technical and Engineering support in the event of further operations and data taking. Required allocation for Phase 3 - £7,972k Total UK spend for MICE £42,721k

Backup Finance 11

Finance Backup 12