Strategic Plan 2009 - 2013

9. Sustainability and Financial and Asset Management

To make the optimum use of all our assets, human, physical and financial to maximise income from a wide range of sources and to manage our affairs efficiently so as to maintain our financial stability and to sustain our future growth and development.

Operating within a financial climate which is subject to considerable change, the University will continue to seek to manage its resources carefully and proactively to ensure that it is able to sustain its core activities and invest in future developments.

1.  Strategic Objectives

The University aims to:

  • ensure that all financial indicators are sound and that the financial position is resilient and sustainable,
  • pursue new income streams in the context of careful assessment of commitments,
  • increase income, through, for example:
    • developing student recruitment, including that of international students, 
    • increasing research grants and contracts,
    • careful management of endowments, 
    • improving alumni activity and fundraising from alumni and corporate sources.
  • ensure sustainability through the production of an appropriate annual surplus across all activities,
  • monitor expenditure on a regular basis and provide clear financial advice to all members of staff in control of a cost centre,
  • continue to improve energy management across its residential and non-residential estate and in all its activities.

2. Implementation

In order to seek to achieve its strategic objectives in an increasingly challenging financial environment, the University will:

  • monitor performance in relation to the 14 Key Performance Indicator  Trigger Metrics provided by the Funding Council as a measure of institutional sustainability under the four key headings – Money, People, Equipment and Buildings,
  • monitor its Corporate Risk Management Policy to ensure that it has an effective process for identifying, evaluating and managing all significant risks, and to ensure that the Risk Register is robust and up to date,
  • cascade risk management procedures to all operational areas, involving all heads of cost centres,
  • improve support for members of staff involved in applications for research grants income through increased dedicated research support (including that provided through the AU/BU Research and Enterprise Partnership), through centrally provided training and through mentoring activities in departments,
  • provide high quality advice and support for staff seeking to exploit research through commercial exploitation, knowledge transfer and third mission activities,
  • ensure that capital infrastructure expenditure is subject to all necessary procurement procedures as laid out in current legislation, to ensure best practice, legal compliance and value for money for equipment purchased,
  • continue to redistribute resources between academic departments consistent with the Resource Allocation System,
  • continue to embed the issue of Education for Sustainable Development and Global Citizenship (ESDGC) within the University’s annual Planning Round, 
  • roll out best practice in issues relating to the ESDGC agenda through the guidance of the appointed ESDGC Champion, and continue to monitor activity in this area across the University,
  • implement its Human Resources Strategy, focusing on targets in six priority areas: recruitment and retention, staff development and training, equal opportunities, reviews of staffing needs, annual performance reviews and managing poor performance,
  • monitor the introduction of the new pay and grading structure as part of the implementation of the National Framework Agreement on Modernisation of Pay Structures, and continue to work on implementation issues,
  • implement the Estates Strategy (2008 – 2018), including the development of a campus masterplan and development and implementation of a backlog maintenance strategy for the whole estate,
  • continue to work with the Carbon Trust and implement the University Energy and Water Management Policy in order to improve utilities management, 
  • implement the Staff Development Strategy and work to ensure that appropriate ongoing training is offered to staff at all levels,
  • implement changes to endowment fund management,
  • further develop our fund-raising and alumni activities, including through the work of the Development and Alumni Relations Office.

3. Targets

In the period to July 2010, the University will:

  • continue to work to achieve the targets established in relation to the Funding Council’s 14 Key Performance Trigger Metrics,
  • continue to work to achieve the targets established in the University’s bespoke set of Performance Indicators;
  • develop a campus masterplan and continue to reduce the backlog maintenance on both the academic and residential estates, in accordance with the aims of the Estate Strategy (2008 – 2018),
  • consider the outcomes of the Strategic Review of the University’s fundraising activities and develop a strategy for increasing the amount of income generated from such activities,
  • implement the planned investment and asset management incorporated in the Capital Investment Strategy and continue to review the progress of work included in this strategy,
  • implement the revised risk management proposals, involving all operational areas identifying risks via heads of cost centres.

In the period to July 2011, the University will:

  • achieve an operating surplus of at least £2m,
  • implement the key elements of the Estate Strategy (2008 – 2018),
  • aim to reduce CO2 emissions by 10% per student in academic buildings and 5% per student in student residential buildings,
  • implement and maintain an environmental management system (EMS) which is certified to ISO 1400l.

4. Risks

The following risks to success in this area have been identified and the University will monitor and manage them throughout the period:

  • failure to achieve planned  student FTEs,
  • failure to improve on current levels of research income in an increasingly competitive research environment,
  • failure to achieve an appropriate surplus,
  • failure to recruit and retain high quality staff,
  • failure to achieve its targets in relation to the 14 Key Performance Indicator Trigger Metrics,
  • failure to be funded on a competitive basis with HEIs in the rest of the UK,
  • failure to manage capital programmes effectively,
  • reductions in public funding for Higher Education.