FINANCIAL SUSTAINABILITY - FINANCE RESOURCES STRATEGY Objective 1 – Activities & TargetsTargets2012/13 To generate adequate cash surpluses to fund reinvestment (3% of turnover) Move to historical cost surplus of 3% of turnover (break-even on an operating basis) in order to generate around £8M of cash for re-investment. Increase at a rate reflecting the financial and economic environment. Further develop monthly cash forecasts and continue to update/progress 10 year plan. Work within borrowing levels currently approved by Court. Ongoing annually December 2012 & June 2013 Achieved Complete 2012/13 – Out Turn

FINANCIAL SUSTAINABILITY - FINANCE RESOURCES STRATEGY Objective 2 – Activities & TargetsTargets2012/13 To grow income Diversify income from international activities, working with SRAS, Colleges and University Secretary. Undertake a review of earned income to establish opportunities to replace income from government sources. Work with DT to further develop fundraising opportunities. March 2013 January 2013 Ongoing Outstanding Ongoing 2012/13 – Out Turn

FINANCIAL SUSTAINABILITY - FINANCE RESOURCES STRATEGY Objective 3 – Activities & TargetsTargets2012/13 To manage costs Continue to transfer suppliers onto ePS, and reduce suppliers on Cedar. Contribute to the OneSource implementation and take an active role within the project, with commencement of Finance project planned for early Improve processes across the University using ‘Lean’ and by use of new technology. e.g. OneSource. Continue to train buyers and improve procurement practices across the University. Review and update the Fraud policy. Work with Estates on environmental projects to reduce consumption of energy and mitigate against carbon tax. Implement APUC Contracts Database across the University. Implement Corporate Procurement cards. Preparing for the implementation of International Financial Accounting Standards. Ongoing July 2013 December ‘12 Ongoing March 2013 January 2013 August 2013 Ongoing Complete Ongoing Complete Outstanding Ongoing Outstanding Ongoing 2012/13 – Out Turn

FINANCIAL SUSTAINABILITY - FINANCE RESOURCES STRATEGY Objective 4 – Activities & TargetsTargets2012/13 To manage working capital Continue to tighten debt collection procedures to improve cash flow. Work with Barclays to ensure the loan facility is available to meet capital spend, and that all Covenants are adhered to. Invest cash across the counter party list to achieve best return and limit any exposure. Full review of all prepaid income to ensure accounting is accurate and truly reflects working capital position. Ongoing December 2012 Ongoing Complete 2012/13 – Out Turn

FINANCIAL SUSTAINABILITY - FINANCE RESOURCES STRATEGY Objective 5 – Activities & TargetsTargets2012/13 To identify and manage risks Continue to review controls across all processes to ensure appropriate segregation of duties and no exposure. Review the deficit within UASLAS Pension Scheme and determine affordability of Scheme. Review sector wide benchmarking to ensure appropriate group (working with PPG) and data/analysis still appropriate Implement auto-enrolment in relation to all Pension Schemes. Ongoing – qtrly meetings March 2013 January 2013 April 2013 Ongoing Complete 2012/13 – Out Turn

FINANCIAL SUSTAINABILITY - FINANCE RESOURCES STRATEGY StaffingTargets2012/13 Develop core training for specific Finance roles. Ongoing support for those taking professional exams. Use appraisal system to encourage/identify career development opportunities. Complete all staff appraisals in a timely manner. January 2013 Ongoing December 2012 Outstanding Ongoing & review Aug 13 Complete 2012/13 – Out Turn