1. FINANCIAL SUSTAINABILITY - FINANCE RESOURCES STRATEGY Objective 1 – Activities & TargetsTargets 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 £11M of cash for re- investment. Increase at a rate reflecting the financial and economic environment. Target £5M 2013/14. Further develop monthly cash forecasts and continue to update/progress 10 year plan. Work within borrowing levels currently approved by Court. Review the Strategic Investment Fund to ensure investments made are being monitored in relation to expected returns. Ongoing annually December 2013 & June 2014 December 2013 2013/14

2. FINANCIAL SUSTAINABILITY - FINANCE RESOURCES STRATEGY Objective 2 – Activities & TargetsTargets To grow income Diversify income from international activities, working with SRAS, Colleges and University Secretary, in line with the University International Strategy. Undertake a review of earned income to establish opportunities to replace income from government sources. Work with DT to further develop fundraising opportunities. Undertake a review of Investment Strategy and fund managers in relation to endowments. Ongoing January 2014 Ongoing December 2013 2013/14

3. FINANCIAL SUSTAINABILITY - FINANCE RESOURCES STRATEGY Objective 3 – Activities & TargetsTargets To manage costs Implement the OneSource Finance Project by 31 July 2014. Improve financial processes across the University using ‘Lean’ and by use of new technology. e.g. supplier numbers; petty cash; journals; service accounts. 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, or other process to reduce small level transactions within the Finance System. Preparing for the implementation of International Financial Accounting Standards. Review expenditure allocations to ensure reporting correctly in HESA. July 2014 March 2014 December 2013 Ongoing December 2013 January 2014 August 2014 December 2013 2013/14

4. FINANCIAL SUSTAINABILITY - FINANCE RESOURCES STRATEGY Objective 4 – Activities & TargetsTargets 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. Manage cash flow challenges in 10 Year Plan. Ongoing December 2013 2013/14

5. FINANCIAL SUSTAINABILITY - FINANCE RESOURCES STRATEGY Objective 5 – Activities & TargetsTargets 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, carry out the triennial valuation. Look to improve on Procurement Capability Assessment. Ongoing – quarterly meetings Ongoing March 2014 2013/14

6. FINANCIAL SUSTAINABILITY - FINANCE RESOURCES STRATEGY StaffingTargets 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 2014 Ongoing December 2013 2013/14