Aims and Responsibilities
Details of the Finance Department's aims and responsibilities.
The Finance Department is responsible for the effective financial management and stewardship of the University and for ensuring that the University's financial position remains healthy and sustainable.
The Finance Department operates in a devolved manner with College, Support Group and Subsidiary accounting staff, as well as central Finance Department staff taking their professional leadership from the Director of Finance.
Finance Department activities
- Provision of professional advice and direction.
- Delivery of management reporting that enables senior and local managers to effectively manage their activities.
- Statutory financial and fiscal reporting.
- Processing transactions related to income, expenditure, capital projects and financing.
The strategic aims of the Finance Department are:
- Maintain tight stewardship over the University’s financial resources, ensuring that financial funding in the form of cash and loan facilities are available for managed strategic growth without over commitment.
- Increase transparency of income and full costs of activities across the University.
- Maintain and improve the University’s financial control environment including the management of financial risk.
- Maintain and improve the financial systems and processes such that they are easy for users to access, operate quickly and efficiently.
- Tighten financial and management reporting such that accurate up to date information reflecting income received and due, and expenditure undertaken and committed, is reported on a timely basis each month and at year end.
- Develop a culture of customer service and support, and continually improve the provision of financial advice provided to academic and functional managers to assist them in the effective management of their area of responsibility and the University overall.
Corporate Services Group
The Finance Department is part of the Corporate Services Group which provides the physical, operational and commercial environment which supports the educational and research activities of the University.