Improvements to production of budget statements

30 Nov 2018

Making finance more efficient and effective

Research Principal Investigators and other project budget holders will begin to receive standard budget statements from early 2019. These new automated reports will replace reports currently provided by finance teams. By freeing up valuable time finance teams will have greater capacity to support budget holders to use the new reports to effectively manage budgets, as well as to respond to any queries. 

The new reports are designed to help with better monitoring of expenditure against budget and checking available funds. This is part of the first stage of planned improvements to help the University be more efficient and effective in the delivery of finance support and follows the launch of automated statements for non-research budget holders in October.

Stephen Dauncey, Director of Finance said: “We expect in the coming months to see a significant amount of time saved in finance teams. The time previously spent on manually producing spreadsheets will now enable teams to offer more value added support. We look forward to launching the next stage of automated reports for research budget holders early next year.”

Principal Investigators and other project budget holders will be contacted by their School finance teams in the next few weeks to arrange for training and on-going support once the reports are introduced.