Finance Matters Derek Vokins 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 (31 st 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 STAK , 02 etc. Tasks can be broken into sub tasks etc –Will continue to be setup by Caroline

Example - SPiDeR FD PPD effort FD TD Effort FD Equipment FD Travel STAK00023 Task 01 - Spider Grants (SPO) Task 02 - Spider Other awards (SPO) Task 03 – SPiDeR RAL – PPD effort – TD Effort – Equipment 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?