The Divisional Finance Team seeks to ensure the sound financial management of the Division and its departments. We are formally part of the Finance Division, but firmly embedded within the Division, and pride ourselves on working closely with senior management in the Division, and with academic, administrative and finance colleagues in departments. Our key responsibility it is to lead the Division’s financial planning, budgeting and forecasting activity. We support departments in addressing their challenges – whether through the delivery of specific projects, acting as a source of advice, or by advocating for change on our departments’ behalf across the wider University. And we strive to build a network of financial professionals across the Division, ensuring departments can learn from and support each other.
Planning, Budgeting and Forecasting
The financial year runs from August to July. The University has a well established planning, budgeting and forecasting cycle which we lead on behalf of the Division. Throughout, our focus is on ensuring that departments can develop academically and operationally in a sustainable manner, and commensurate with the University’s financial needs. We also aim to ensure that departments have early sight of financial risks and opportunities, and are placed to respond quickly and effectively to those.
Managing financial risk
We seek to help departments manage their financial risks as easily as possible. Working with divisional colleagues, we have built financial and operational KPIs, helping departments identify financial trends, and to benchmark against other departments. We actively support departments facing particular financial challenges (whether through growth, or financial pressures) in developing and actively monitoring robust financial plans. We also seek to provide divisional models (e.g. for reconciling payroll, or projecting overheads) which allow departments to focus their time on analysis and control. If you have ideas for other ways the Division can help, please contact us.