Managing financial resources
* What principles should be adopted when allocating financial resources within higher education institutions?* How do internal and external factors influence resource allocation systems and what impact do these systems have on institutional and individual behaviour?* How best should expenditure be monitored in universities and colleges?This book provides a practical guide (from both departmental and central perspectives) to the management of financial resources in institutions of higher education. Following a review of the impact of a changing external environment, a three stage approach to the allocation of resources is outlined, namely: understanding sources of income, application of strategic considerations, and distribution to departments and faculties. Concepts of devolution and formula-based systems of allocation are considered in the context of the culture and structure of institutions, their impact on staff and the way in which institutional and individual behaviour patterns are affected. A concluding chapter summarizes themes relating to the management of change and highlights managerial implications.
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The modern age
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academic administration academic terms academic units adopted assessment audit budget-holders budgetary central administration chapter colleges Committee consequence context cost centre culture Dearing Report decisions deficit departmental level devolved ensure entrepreneurial expenditure extent external environment factors faculty Figure finance office financial management focus formula-based systems formulaic approaches funding councils funding methodology governing body grant heads of department HEFCE HEFCW higher education institutions implementation income income-generating increase influence institution's institutional managers issues Jarratt Report management information systems management of financial managerial managing financial resources members of staff ment monitoring National Audit Office operating organization organizational Palfreyman performance indicators planning process post-1992 universities practice pressure priorities procedures research assessment exercise resource allocation methodology resource allocation process responsibility Robbins Report role scheme of delegation sector senior managers strategic planning structure student numbers surplus systems of resource tion universities vice-chancellor Welsh Office whilst