Budget Preparation

Annual University Budget Process

The University Budget Process begins around November each year and runs through various stages to around June the following year when the budget and plans are approved by Court. Further details are available at the below link.

Related Information

Budget Preparation
Strategic Planning Policy

Budget Monitoring & Forecasting

To assist Executive Deans and Heads of Support Departments to effectively monitor their budgets, the Finance Business Partners prepare monthly management reports for each Executive Dean and quarterly management reports for each Head of Support Department.

In addition they will arrange monthly meetings with each School and quarterly meetings with each Support Department to discuss the information contained in the management reports and specifically:

• Variances – cause of variances and possible solutions
• Forecasts – projected year end position in relation to budget

Budgets can also be monitored at any time using Financial Discoverer Reporting System.

Executive Deans and Heads of Division/Department, as budget holders, are accountable and responsible for all budgets falling under their area of control.

Embedded within Budget Responsibility is assuring account activity is relevant to the intended purpose of accounts and that spend is within Budget limits unless authorised in writing by an appropriate individual/funding body. Use of funds for any purpose other than the intended purpose is prohibited unless prior authorisation has been given by the funding body.

Related Information

Financial Discoverer