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The role of the Finance Manager in budgetary planning and control

The University operates an annual Planning Round, one aspect of which is to collate financial forecasts from institutions (deadline 1 December) covering all funding streams. For Chest activity the financial forecast relating to the subsequent financial year also forms the basis for determining the Chest allocation and budget.

Finance Managers are generally responsible for collating and submitting institutional financial forecasts. For some this process operates top-down (with a forecast prepared for a group of institutions/School as a whole), for others the approach is bottom-up (institutional level forecasts prepared that then need to be consolidated for the group/School). Your Finance Manager can advise which approach is adopted for your institution/School.

Finance Managers are also responsible for providing the details for the Chest budget by institution, subject to approval by the relevant body (e.g. School Council), which are subsequently published in the thin Blue Book. Finance Managers involvement in budgetary control includes general oversight by reviewing financial reports at least monthly for their areas of responsibility and raising issues with the local institutions as appropriate.

Finance Managers can advise on producing non-Chest budgets, albeit Research Operations Office (ROO) deal with Research grants and contracts, and monitoring against these. Finance Manager involvement in budgetary control for non-Chest activity will vary depending on the policies adopted by Schools/Insititutions. The monthly review of financial reports means Finance Managers monitor non-Chest activity regularly.

Details of the Finance Managers responsible for each school/area are available on the Finance Division website.

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