About Us

The University is a major financial operation with income in excess of £200m per annum. The main sources of income are Grant from the Scottish Funding Council, Tuition Fees, Research Grants and other sources (residences, endowments, services rendered).

Responsibility for finance within the University is laid down in the Charter and Statutes in financial memorandum documents from SFC. Day to day administration of the University finances is delegated to the Director of Finance.

Supporting the University Mission Statement

The University Finance Office will support the University in its aims of providing education of the highest quality coupled with a leading contribution to the advancement of knowledge.

It seeks particularly to contribute to the University's goal of promoting continuous improvement through effective management and sound financial policies.

The Finance Office strives to ensure that the University has strong and reliable systems of internal financial controls, including the following elements:

• accurate recording of all financial transactions, through efficient and secure computer-based systems.
  
  
• comprehensive medium and short term financial plans, budgets and forecasts.
  
  
• regular reviews of financial transactions, plans and projections.
  
  
• clearly defined financial regulations and procedures, including those governing the approval and control of income and expenditure.
  
  
• clear and timeous communication of financial information and advice to University Court, its Committees, and to management and staff of the University, as appropriate.
  
  
• preparation of true and fair annual financial statements, in accordance with relevant accounting and regulatory standards.
  
  

The Finance Office also strives to optimise the efficiency, economies, and effectiveness of the University's financial processes and management. In this aim, it has particular regard to:

• economic and effective purchasing of goods and services.
  
  
• efficient collection of all monies due to be received.
  
  
• efficient communications with external agencies, including government, funding councils, lenders, and financial customers and partners.
  
  
• safeguarding of the University's assets, both tangible (buildings, equipment, cash and other liquid assets) and intangible.

Last modified: Tuesday, 16-Nov-2010 14:22:27 GMT