Heads & Managers Forum Finance 1 December 2014

Road Travelled Ireland v Selected Other European Countries 2 Evolution Public Funding Country/System adjusted for inflation Between 20% & 40% Increase Germany, Norway, Sweden Between 10% & 20% Increase Austria,Belgium (fr) Between 5% & 10% Increase Poland Between 5% increase & 5% decrease Belgium (fl), Iceland, Netherlands Portugal Between 5% & 10% decrease Croatia, Slovenia Between 10% & 20% decrease Czech Rep, Serbia, Slovakia, S pain Between 20% & 40% decrease Ireland, Italy, Lithuania, UK* Decrease greater than 40% Greece, Hungary

National Budgetary Environment National Public Finances Recovery - Into Year 7 of funding reductions for HE DES Estimates now published for 2015 : 4% reduction in Higher Education for 2015 CER published – no planned increase in state funding for HE out to 2017 No capital or maintenance funding for UCC Further increase in Student contribution – now at €2,750 to €3,000 max in 2015/16 Demand Pressures continue National Review on Funding to address funding model – unlikely to be published until 2016 Non Exchequer - Competitive, Rankings

UCC Financial Position 2014/15 4 Total budget income and expenditure for 2014/15 inclusive of research is €276m In built savings of €4.3m required to reduce expenditure to the budgeted income level Certain strategic plan investments included in budget College budgets have marginally increased year on year Progress made on income generation but not enough to make good exchequer reduction Very challenging to apply incentives back to Disciplines/Departments/Schools National funding top slice – difficult for UCC to make gains given cluster issues Medium term financial sustainability is under pressure No longer expect state to provide adequate resource – must generate our own resources to maintain services Significant push during 14/15 to get enough income in 15/16 to avoid further reductions in budgets – funds set aside to get the students and provide extra resource

Thank You & Questions Finance - H & M Forum 5