1. Working together to promote excellence in Physics SEPnet Finance Update 11 th March 2015 Clare Taylor - SEPnet Banker for Phase two

2. Working together to promote excellence in Physics Finances 1.Year 1 (2013-14) recap 2.Year 2 (2014-15) Actual Expenditure v Plan – Centrally Funded Expenditure – Institutional Expenditure 3.EEO further contract extensions 4.Other finance issues

3. Working together to promote excellence in Physics Budget v Actual Year 1 Recap 1.One-Off expansion £240k underspend – VC equipment £150k awaiting procurement decision – SEPnet 1 funds used for expansion costs 2.Employability Officers £101k underspend – recruitment delays 3.Graduate Network £56k underspend – Conference cost saving – Web Media cost slippage to Year 2 4.Governance £43k underspend – part of salaries charged to SEPnet 1

4. Working together to promote excellence in Physics Budget v Actual spend Year 2 (6m) 2014-15 Central Expenditure Budget Category 2014-2015 Budget (£) 2014-2015 Actual (£) 2014-2015 Remaining (£) Total Budget (£) Total Actual (£) Total Remaining (£) 2013-2014 Actual (£) Governance142,00076,06665,934645,500175,453470,04799,387 Outreach80,00039,98840,012400,00087,250312,75047,262 Employability (Central)70,00039,53230,468350,00081,955268,04542,424 Other (Central)30,00014,51815,482125,00032,49192,50917,974 Graduate Network235,00062,008172,9921,105,000241,478863,522179,469 Diversity and Impact50,00023,37426,627250,00066,073183,92742,699 Research50,0003,75746,243220,0006,757213,2433,000 One-Off Module Devlpmt150,0004,372145,628150,0004,372145,6280 Employability Officers207,00089,735117,265517,500195,761321,739106,027 Student Panel20,0000 90,00010889,892108 One-Off Expansion90,0000 0 0 Recurrent1,124,000353,349770,6513,943,000891,6993,051,301538,350 Captial150,000120,53129,469150,000120,53129,4690 Total Expenditure1,274,000473,880800,1204,093,0001,012,2303,080,770538,350

5. Working together to promote excellence in Physics Budget v Actual spend Year 2 (6m) 2014-15 GRADnet Expenditure Budget Category 2014-2015 Budget (£) 2014-2015 Actual (£) 2014-2015 Remaining (£) Total Budget (£) Total Actual (£) Total Remaining (£) 2013-2014 Actual (£) GRADnet Director Salary85,00041,03943,961380,000123,792256,20882,753 GRADnet Admin35,00018,93916,061175,00042,911132,08923,972 GRADnet Expenses2,375(2,375)12,426(12,426)10,051 GRADnet IT Support25,000(11,016)36,016115,00010,441104,55921,457 GRADnet Website20,00033619,66495,00023,36371,63723,027 GRADnet Web Media20,0000 90,0000 0 GRADnet Conference50,00010,33639,664250,00028,545221,45518,209 235,00062,008172,9921,105,000241,478863,522179,469

6. Working together to promote excellence in Physics GRADnet Year 2 (6m) 2014-15 £62k Actual vs £235k Budget 1.£62k spend YTD. 6m apportioned budget £118k. 2.Director salaries (x3) on target for this year 3.Admin salary likely to overspend £35k budget by £3k 4.No general expenses budget – £10k pa reasonable based on prior expenditure – What should be decreased 5.IT Support £11k credit due to reprofiling of service contract 6.Limited spend vs Website, no spend against Web Media 7.Conference underspend due to timing issues with Summer/Winter schools

7. Working together to promote excellence in Physics Budget v Actual Year 2 (6m) 1.Governance, Outreach, Employability & Diversity posts all on target – £7k CEO salary projected overspend for 14/15 – Offset by £34k underspend 13/14 (charged to SEPnet 1) 2.Research £3.8k spend vs £50k budget – KE / IPS fellow (Ports/Sussex) underspend due to delayed appointment – Research Conference not yet held 3.Module development £146k underspend – Roll over from Year 1 – Delay due to (unsuccessful) bid to HEA 4.Student Panel – No spend recorded to date, £108 13/14, Budgeted at £20k pa 5.One-off Expansion, £90k underspend 6.Capital, £120k spend vs £150k budget – Remainder on Visimeet Licenses and additional work at Herts / OU

8. Working together to promote excellence in Physics Budget v Actual spend Year 2 (6m) 2014-15 Institutional Expenditure Budget Category 2014-2015 Target (£) 2014-2015 Actual (£) 2014-2015 Remaining (£) Total Budget (£) Total Actual (£) Total Remaining (£) 2013-2014 Actual (£) Outreach Activities329,000146,447182,5531,645,000493,1861,151,814346,739 GRADnet Activities108,00049,22258,778540,000141,376398,62492,155 PhD Students770,000 03,150,0001,190,0001,960,000490,000 Summer Interns62,5000 312,50057,750254,75057,750 Research Students30,0000 150,00024,000126,00024,000 Contribution to Central Costs260,000230,00001,360,000490,000870,000260,000 1,559,5001,225,669333,8317,157,5002,426,3134,731,1871,270,644

9. Working together to promote excellence in Physics Notes on Institutional Expenditure Year 2 1.Outreach spend broadly on target – Reading £700 expenses vs £6k budget – Surrey £600 expenses vs £15k budget 2.GRADnet spend on target 3.PhD Students – In place at all institutions – 2 x PhD students at Kent (none in place Y1) – 2 x PhD students due at QMUL (as none Y1), though awaiting details 4.Summer interns (GRADnet) & Research students – No spend recorded YTD; placements take place in Summer

10. Working together to promote excellence in Physics EEO Contract Extensions 1.With the exception of Reading, all have HEFCE funded Employer Engagement Officers 2.Currently 30 months funding to March 2016 or later – Extension agreed at September 2014 Steering board meeting 3.Cost of further 6 months extension to every contract is £104k – Based on current £23k pa budget per partner – £18k salary, £5k expenses split 4.If contracts are to be extended further, should wage inflation / London weighting be taken into account?

11. Working together to promote excellence in Physics Other Finance Issues 1.Summer Interns – How to allocate external funding to partners 2.GRADnet – No agreed general expenses budget – £10k pa is reasonable, based on 13/14 costs – Saving to come from other areas of GRADnet budget? 3.KE / IPS Fellowship – 0.5 FTE at Portsmouth and Sussex – Reclaiming at £10k pa each to maximum of £50k – Appointments delayed until Y2 (Portsmouth Q3, Sussex Q2) – Will funding be extended?