Finance Matters

Derek Vokins

derek.vokins@stfc.ac.uk

Ext 6042

Scope

• Summary 2009/10 Outturn

• The finance cycle in a nut shell

• Project Codes

• GPC

Summary 2009/10

• £17,820,000• £17,624,000• £ 196,000

• £16,858,000 • (£ 766,000)

Allocation (Budget)

Actual Expenditure

Underspend

February Outturn Forecast (OTF)

Overspend against OTF

We need to do better…

The Finance cycle

Operational Planning(Jan/Feb)

Budgeting(Mar/Apr)

OTF (Quarterly)

Year end(31st Mar)

• Budget broken into expenditure types– Previously Pay, non-pay and Capital– Now many (but only if they apply)

• Quarterly Outturn forecasts– Need to be robust– Must include any additional income assumptions– Monthly update if material (significant) change– December - mission critical (you will be held to it!)

The Finance cycle

Finance Matters…

• Project Codes– Direct mapping old to new– i.e SPiDeR STAK00023 – Broken down into Tasks to suit the project

needs– i.e STAK00023 01, 02 etc. Tasks can be

broken into sub tasks 01.01 01.02 02.01 02.02 etc

– Will continue to be setup by Caroline

Example - SPiDeRFD35100 - PPD effort FD35200 - TD EffortFD35300 - Equipment FD35400 - Travel

STAK00023

Task 01 - Spider Grants (SPO)

Task 02 - Spider Other awards (SPO)

Task 03 – SPiDeR RAL03.01 – PPD effort03.02 – TD Effort03.03 – Equipment03.04 - Travel

Finance Matters…

• GPC• Skinny Records

Summary

• Avoid a repeat of 2009/10 Actuals/OTF• Increased dialogue

– Better forecasting

• Plan ahead – Things may take longer to happen!

Any Questions?