Resource Allocation Model (RAM)
Student numbers, teaching grants and tuition fees are fed into the University's Resource Allocation Model (RAM) in order to calculate the funds available to each Faculty and the funds available to pay for central services, capital expenditure and long-term maintenance, special initiatives and research development.
The RAM also forms the basis of the financial forecast, which in turn enables the University to formulate its financial strategy.
Contact person: Mike Telford, extension 2606, email@example.com
Maintenance and Monitoring of Budgets
Before the start of each financial year, budgets are submitted and uploaded into CedAr. They are used as a guideline for spending and also as performance indicators across the University. The University's financial year runs from 1 August - 31 July; a budget must be submitted to Financial Services for all active objective codes, covering each financial year. All budgets submitted will be uploaded to CedAr Financials prior to the start of a new financial year. They will then be used to monitor income and expenditure within Schools and Departments throughout the year.
A detailed budget pack is required in order to prepare budgets for all ongoing activities within Schools and Departments in the forthcoming financial year.
This pack contains detailed information on how to prepare a budget, information required to complete a budget, the University's financial structure, a guide to using the budget template and the allocation of salary costs within Schools and Departments.
The University has developed a standard budget template which must be completed for all budgets before submission to Financial Services.
The template provides a list of the most frequently used income and expenditure subjective codes within the University.
Any queries you have in relation to the preparation of budgets can be directed to the appropriate member of staff within the team (as detailed in the pack).