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December 2020 Update

 

Download a PDF of the full detailed guidance

 

The University has updated its guidance for mitigating and tracking Covid-19 related costs, as detailed in the attached document, which supersedes previous guidance issued in April 2020.
 
Departments and Institutions are required to mitigate the University’s exposure as far as possible, through continued efforts to recover related income from research and other funders, as well as appropriate cost control.  ‘Residual’ costs should be recharged to ALBE accounts for tracking purposes, only when it is clear that they cannot be mitigated.  Transferring costs to ALBE does not guarantee that they will be covered by the Central University; it is likely that the University will only be able to contribute to a portion of all costs charged to ALBE in due course.  School and Non School Finance Managers will continue to monitor ALBE accounts, to ensure consistency of approach as far as possible.
 
The guidance provides further detail regarding treatment for different categories of cost, including specific cases where the University has already agreed to cover the Residual cost.  One clarification is that lost trading income should not be transferred to ALBE; instead the cost of trading activities should be allowed to accumulate against existing local trading accounts.  This may result in some trading accounts going into deficit, perhaps for some time.  The University will not allow institutions to fail as a consequence of the financial impact of the pandemic and is prepared to allow activities to continue to operate under these conditions. 
 
Furloughed staff costs are viewed as a subset of broader cost categories covered in the guidance; the appropriate treatment will depend on the nature of the funding for each underlying post (further guidance is provided near the end of the document).  Amounts received by the University as a consequence of successful Coronavirus Job Retention Scheme (CJRS) claims will be remitted to the local account where furloughed staff costs are incurred, except for Chest-funded posts as these staff costs have continued to be funded in full through normal Chest allocations.  CJRS reimbursements will form part of local mitigation before determining any Residual amount, where appropriate.
 

Detailed guidance:

 

CORONAVIRUS/COVID-19
FOR STAFF

Please see our CORONAVIRUS/COVID-19 Assistance pages for help with areas of Finance during the current situation.

UFS issued communications and the University website also contain information on this topic

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