Finance Office Induction. Xx xxxx 2013

Transcription

1 Finance Office Induction Xx xxxx 2013

2 Today Welcome and introduction Accounting Internal Audit Payroll/Pensions/Systems Procurement Research & Innovation Services Treasury Management

3 Introduction Higher Education Sector as a whole University of Birmingham

4 HEI (UK)PLC v Univ of Bham 2011/12 HEI UK m Turnover 27,799 Fixed Assets 33,492 Pay Costs 14,809 UoB m Employees 378,205 6,146

5 University Accounts 2011/12 INCOME m HEFCE Fees Research Residences 32.3 Investments 5.9 Health Auth Other 41.7 TOTAL EXPENDITURE m Acad Schools Acad Services 52.3 Premises 50.6 Administration 32.6 & Central Services Residences 29.3 Other 12.5 TOTAL 466.2

6 Key Indicators Balanced income and expenditure account Controlled use of reserves Sustained capital investment Cash to support the business

7 Planning VC s Office Academic Services BMSU Legal Services IT Services Corporate Services Divisions External Relations DABE Human Resources HAS Finance Estates

8 Director of Finance what do I do? Overall responsibility for ensuring the University remains financially sound! Setting financial policy for the University Spotting and acting on major changes in the various funding environments as early as possible Advise Council, Vice Chancellor and Pro Vice Chancellors on Financial issues External facing role supporting HE Sector developments often with the HEFC E

9 Director of Finance how do I do it? Through the efforts of all staff in the Finance Office! Attend Council, SPRC and other major Committees Meet weekly with Executive Board; Registrar and Secretary; Senior Officers and College Directors of Ops. Meet weekly with Assistant Directors of Finance Interfacing regularly with external bodies Treasury, Funding Council, NHS, banks, Investment Managers, advisers Personal role: Council Member of Science & Technology Facilities Council (STFC) one of UK Research Councils

10 Who does the Finance Office work with? Everyone within or associated with the University will have contact with one or more of the Finance Office divisions. Divisions and Sections within the Finance work together We work throughout the structure from Council; University Committees and Boards to individual employees and students. Externally funders of Research; HEFCE; TDA; commercial organisations as clients and suppliers through to individual members of the public.

11 Accounting Erica Conway

12 Accounting What do we do? First financial point of contact for Colleges, Corporate Services Budget Centres (including Capital) & Residences, Catering & Conferences Research support pre and post award, budgeting, financial planning, management reporting, governance and ethics, contracts, external audits fec & project work for all areas of Finance & wider University External financial reporting to various stakeholders

13 Accounting How do we do it? (1/2) Academic - Business Planning & Accounting 5 teams look after 5 Colleges - Strategic and financial support, together with management accounting and forecasting Corporate Services & Capital - Corporate Services area team looks after a number of budget centres for regular reporting, budgeting and forecasting - Capital team - Support of year capital plans, financing and decision processes - HAS - teams looking after catering, residences, conferences & retail

14 Accounting How do we do it? (2/2) Research Support Group - Individual teams supporting the Colleges with dedicated group for European & regional funding - Support for costing, governance, ethics and contracts - Pre and post award support to Academics Corporate Accounting - fec (full economic costing) & projects - External annual reporting including financial statements for University and subsidiaries - Support of subsidiaries - Institutional level management reporting and forecasting

15 Internal Audit Service Lesley Lucas

16 Internal Audit what do we do? Provide Council (via Audit Committee) and Senior Management with an independent opinion on the effectiveness of governance, risk management, operational control, Value For Money and data quality All HEIs are required to have internal audit can be in-house, or outsourced. Computer Audit work outsourced to Deloitte Independence? A state of mind, not linked to formal reporting lines BUT reporting lines are to Director of Finance, Registrar & Secretary and Chair of Audit Committee Fraud and other investigations Money Laundering Reporting Officer

17 Internal Audit how do we do it? Audit all areas of the University to form the required opinions. The frequency of audit depends on the perceived risk of the area Annual Plan of work approved by Audit Committee The scope of each audit is agreed after discussion with local management and research into background information (not a standard checklist approach). Testing plan undertaken to test the effectiveness of the controls that have been identified Draft report for discussion Final report issued with Management Action Plan reviewed by Audit Committee Follow up of recommendations

18 Payroll, Pensions & Systems Tim Fuery

19 Payroll, Pensions and Systems what do we do? Strategic advice to University on legislative change as it affects Payroll and Pensions Advice on operational issues Provide customer focussed payroll and pensions service for the University Advise University on financial systems strategy and policy and provide administrative support and training on financial systems Undertake the statutory activities associated with the provision of a payroll and pension service Ensure compliance and manage risk in the complex payroll and pensions environment

20 Payroll, Pensions and Systems how we do it? Through highly experienced staff in each section Using appropriate software that we have contributed to the development of Using processes and procedures that are being constantly refined Working closely with colleagues in the Finance Office and throughout the University And relying critically on effective communications

21 Procurement Division Tim Fuery

22 Procurement Division What? Advisory Role on Procurement for Colleges and Corporate Services Contracts for the Purchase of Products & Services Establishing Framework Agreements University Procurement Strategy and Policies Implementing E-Procurement Solutions Influence Non Pay expenditure

23 Procurement Division How? 6 Procurement Advisors providing advice and support Devising Commodity Strategies for Products & Services Implementing and Managing Framework Agreements & Contracts Compliance with Legislation (Public Contracts Regulations 2006) Co-ordinating procurement by working with Colleges and Corporate Services and HE Sector Consortia and other Institutions

24 Research & Innovation Services Steve Taylor

25 RIS - What do we do? Strategic Research Partnerships Bids for funding of strategic projects City and regional engagement Post-award oversight of large strategic projects (e.g. Science City) Research Information & European Funding Support Bids for international funding (e.g. EU FP7) Intelligence for funding and policy initiatives Administration of e-submission of proposals Post-award oversight & audit trail Alta Innovations Ltd IP protection and licensing Spinout creation and support Personal academic consultancy Research Park Management Market Intelligence Enterprise training of academics Proof of concept funding

26 RIS HOW? Robbie Mackenzie

27 RIS - Outputs Activity Measure University income significantly influenced by RCS activity 70m Academic delegates present at RCS run events in the year Value/number of large Strategic project bids developed and supported Value/number of new Knowledge Transfer Partnerships (KTPs) Value/number of new Technology Strategy Board collaborative R&D projects developed and supported Value/number of EU bids developed and supported Value/number of EU project files being actively maintained for audit trails 1030 delegates 40m/11 bids 1.2m/9 KTPs 5m/14 projects 16.2m/264 bids 44.6m/121 projects Licence income received and distributed to inventors and the University 305k Alta Innovations Ltd & Research Park turnover Patents filed/new licences negotiated and signed Number of academic staff consultancies supported Businesses contacted/new projects arranged Number of market intelligence and business case analyses undertaken 3.4m 20 patents/18 licenses 89 consultancies 1185 business/152 projects 67 assessments

28 Treasury Management Richard Shortland

29 We collect money What do we do? Income Collections Student Fees We bank and allocate money Treasury Management Credit Control Income Processing We pay creditors Accounts Payable (Payments) We manage and invest money Treasury We arrange insurance and account for and administer VAT

30 Treasury Management How do we do it? Dedicated teams for each area Good processes and procedures Continue to improve by innovation and evolution We aim to understand change in the internal and external environment We employ specialist and highly skilled external organisations, where appropriate We work with key partners and providers We work with support and rely on colleagues in Colleges and Corporate Services

31 Treasury Management Online Shop How do we do it? Manage event bookings and process income collect registration and other required details Flexible set up to suit your needs Efficient processing income posted direct to your account code; no banking or FIN forms Customer focused available 24/7 Cost free to you and the customer!

32 Questions?