The 2013 University Budget Process is well underway as we look to finalise the University Budget for presentation to Council.

Approval of the new 2013 Budget forms a key milestone in the UFPM Project. The 2013 Budget has been built utilising the new Gross Surplus model, with areas building their own budgets for submission and these budgets then being presented at Planning and Budgeting Committee for discussion. These changes have enhanced the ownership and transparency of the Budget Model, both key principles within the UFPM.

As a recap, highlights of the 2013 Budget Process have included:

• PBC Approval of the 2013 Budget Parameters providing a framework for the Gross Surplus Budget Model and guiding areas in development of their 2013 Budget;
• New Budget Templates utilised by Faculties and Divisions in 2013 Budget Build;
• Budget Presentations prepared by all areas for PBC providing analysis of their submitted budget for discussion;
• Preparation of a new look University Budget Publication Document with improvement in both the presentation and content of the document – Check back here early December and have a read of our new and improved Budget Document!
• 2013 Budget and 2012 Forecast revenue allocated at a School level to assist with school level budgets;
• Presentations on the new budget model made by Financial Services at Faculty and Divisional Executive meetings.

In addition to the 2013 Budget Process, the UFPM team have performed a preliminary cost allocation model to illustrate the Cost Allocation Model looking to be developed under the UFPM. This was presented to the Vice Chancellor Executive in September and we will be engaging with areas over the coming months to enable the development of this Model and other UFPM tools.

For queries about the 2013 Budget Process within your School or Branch, please contact your Finance Manager.  For any information about the UFPM Project, please contact: Chris Soteriou or David Parker.