an introduction to finance at the ... - university of oxford · an introduction to finance at the...
TRANSCRIPT
An introduction to
finance at the University
Rob Williams
Finance Division
Tuesday 24 March 2015
A brief introduction to the University
• Prestigious and internationally recognised institution
• Complex and decentralised structure
• Strategic Plan 2013-18: we aim to lead the world in
research and education, in ways that benefit society
on a national and a global scale
How the money flows
£1.17bn
JRAM
Payroll: £596m Operating expenses: £474m
Departments & Services
Income to the University of £1.18bn
15%
20%
40%
4%
7%
5%
9%
HEFCE/Gov't
Academic Fees
Research
Sales
Donations (inc OUP)
Investment
Other
Y/E July 2014
Expenditure by the University of £1.15bn
33%
19% 15%
4%
5%
6%
5%
13% University-funded staff
Research-funded staff
Research-funded non-staff
Bursaries & scholarships
Premises
Depreciation
Payments to Colleges
Other
Finance numbers
• Almost 12,000 staff
• Last year:
• £478m income from research
• 4,230 active research projects
• 270,000 purchase orders
• 165,000 expense claims and invoices
• £19.6m worth of online shop
transactions
Growth of income driven by research
0
200
400
600
800
1000
1200
1400
6/7 7/8 8/9 9/10 10/11 11/12 12/13 13/14
Income
Costs
The role of the Finance Division
• The Division undertakes six main areas of activity:
• transaction processing
• financial reporting and research accounts
• financial planning and departmental support
• specialist advisory services
• audit and assurance
• commercial activities
• Led by Director of Finance Giles Kerr, who reports to the
Vice-Chancellor
Strategic priorities for 2014/15
• Embed Oracle Financials R12 and realise user benefits
• Improve management information
• Strengthen our financial controls
• Improve our customer service
The annual financial cycle
Year end
Monthly
accounts Budgets
Quarterly
forecasts
Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep
Financial Year
Academic Year
Michaelmas Hilary Trinity
Divisional Financial Controllers
• ASUC/UAS:
• Kevin Rodd – 01865 (6) 16074
• Continuing Education:
• Peter Ransom – 01865 (2) 70283
• Humanities:
• Lynn Hutton – 01865 (2 )70006
• Mathematical, Physical and Life Sciences:
• Jeremy Sims – 01865 (2) 82573
• Medical Sciences:
• Justin O’Toole – 553 21683 (internal), 01865 221683 (external)
• Social Sciences:
• Harry Myring – 01865 (6) 14867
Resources and training
• Finance Division website: www.admin.ox.ac.uk/finance
• Book on any courses you may need:
• www.admin.ox.ac.uk/finance/support/training/
• Help with Oracle Financials:
• Customer Services (2) 84800
• www.admin.ox.ac.uk/finance/support
• Regular communications to staff with finance roles:
QUESTIONS?