Welcome to the Finance Office Web Pages

Introduction and overview

The Finance Department is responsible for the production of the University’s financial statements and for the administration of financial processes within the University. These processes include:

  • Banking cash
  • Making payments
  • Raising invoices
  • Budget monitoring and reporting
  • Monthly management accounts
  • Insurance and related matters
  • Financial controls
  • Staff expenses claim
  • Procurement Services
  • Research Grant Claims and Invoices

The Finance Office is not responsible for salary payments, these are handled by Human Resource Services.  Whilst the Finance Office is responsible for Research Grant Claims and Invoices, Research costings are handled by the Research and Enterprise Office

The Finance Office is committed to delivering a superior level of service and support to our customers across and outwith the University as outlined in our service level commitment.

The University of Stirling is recognised by the Inland Revenue as a Scottish Charity no SC011159       Our VAT Number is GB261483657

The University of Stirling is a major financial operation with income in excess of £88m per annum (2006/07 financial statements). The main sources of income are grant from the Scottish Funding Council (SFC), Tuition Fees, Research Grants, and other sources (residences, conferences, short courses, other services rendered). Responsibility for Finance within the University is laid down in the Charter and Statutes and Financial Memorandum, Conditions of Grant and the Audit Code of Practice from the SFC. Day to day administration of the University finances is delegated to the Director of Finance.

Procurement Services

The University’s procurement service, whose twin roles are to help the University secure best value in the acquisition of goods and services whilst complying with all relevant legislation and regulations, has recently moved to become part of the Finance Office. Further information can be found on Procurement Services pages.

Supporting the University Mission Statement

The Finance Office will support the University in it's aim to pursue world class research and scholarship at an international level of excellence and to provide flexible and innovative programmes of teaching and learning in an attractive and vibrant environment. It seeks particularly to contribute to the University's goal of promoting continuous improvement through effective management and sound financial policies.

Finance Office Objectives and Service Plan

The Finance Office aims to deliver superior service to its large and complex customer base across the University.

The primary objective of the Finance Office is to ensure that the University financial performance is delivered and sustained, and the decision-making processes deliver the best value throughout all activities undertaken in the University. This is delivered via the following objectives:-

1. to enable the University to continue to generate the resources required to undertake the planned investment essential to maintain future sustainability in support of the University’s strategic objectives:

2. to deliver superior service and support to the large and complex customer base of the University through:

  • accurate recording of all financial transactions, utilising efficient and secure computer-based systems
  • setting of key financial policies
  • development of comprehensive medium and short term financial plans, budgets and forecasts
  • clear and timeous communication of financial information and advice to University Court, its Committees, and to management and staff of the University, as appropriate

3. to identify funds for future investment in order to maintain the capacity, quality and infrastructure of its teaching and research facilities

4. examination of the core business elements to ensure they remain relevant to the University corporate strategy – discontinuing those that are not and introducing new elements where necessary.

5. identify, quantify, review and manage current and potential risks/opportunities.

6. preparation of true and fair annual financial statements, in accordance with relevant accounting and regulatory standards.

7. adherence to accounting, reporting and auditing standards, compliance with HE/FE Sorp and other guidance from the ASB.

8. to optimise the efficiency, economy, and effectiveness of the University’s financial process and management including:

  • Efficient collection of all monies due to be received
  • Safeguarding of the University’s assets, both tangible (buildings, equipment, cash and other liquid assets) and intangible.

 

 

 

© University of Stirling FK9 4LA Scotland UK • Telephone +44 1786 473171 • Scottish Charity No SC011159
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