RA2018 is a resource allocation model under development to succeed the University's current models.
The work underpinning RA2018 model will contribute directly to the 2018-21 Planning Round but the model itself will not be fully implemented during this cycle. The decision not to fully implement a new allocation model reflects the number of other changes being managed across the University at this time and the need for further work to understand the relationship between Support Group delivery costs and changes in the volume of staff, students and estate.
RA2018 will contribute improved attribution of external income into the Transparent Accounting financial presentation - which will be used as the financial template for the planning round and for monitoring income and expenditure on a quarterly basis. This will include elements such as Research Excellence Grant and SFC tuition income. Work on Service Expectation Statements will continue with the aim of providing a robust underpinning to Support Group business plan cost projections by the end of the planning cycle.
The main objective of the RA2018 project is to design a straightforward, logical and equitable methodology for the allocation of financial resources to Colleges and Support Groups on a rolling three-year basis, set within a clear ten-year context. It will provide transparency of where and how income is generated, support the delivery of the University’s longer-term strategic objectives and ensure long-term financial sustainability.