Update on UCC 2014 Financial position Heads & Managers Forum 17 th January 2014.

Update on UCC 2014 Financial

position

Heads & Managers Forum

17th January 2014

Summary

Provisional Grant Allocation 2014

Impact on Budget 13/14

CORE Grant

Additional funding constraints

Options to address forecasted income shortfall

Plan for a deficit – S.37 Letter

Reduce budget allocations/expenditure –

Beyond 2013/14 – Delivery of Income Generation Project Targets

Provisional Grant Allocation 2014

Specific Key Points to note -

Overall reduction in sectoral funding is 7.2%

Core Grant across sector is 15.5% lower than

2013

UCC grant for 2014 is just over €34m

(€40.8m in 2013) – a reduction of

c.16.5%

TCD recorded the biggest reduction – 17.2%

As in 2013 €25m of cash will not be allocated

to the sector in 2014

Top Slicing by HEA for Strategic Initiatives

continued

Impact on Budget 2013/14

CORE Grant – shortfall of c.€900k vs. Budget

Additional funding constraints

Funding for Pension costs associated with FTWA

Contribution from subsidiary companies expected to be lower than budget

Estimated Overall Income Shortfall - €1.6m

Options to address income shortfall in 2013/14

Plan for deficit – S.37 letter -

consequences

Reduce budget allocations and

expenditure in remaining 9 months of

financial year 13/14

Delay recruitment

Reductions in budgeted non pay

expenditure

Departments cannot exceed budgets

Beyond 2013/14

Income Generation Projects –

critical to addressing funding

shortfall

International Student

Recruitment

Advancement

EU Postgraduate Recruitment

On Line Learning

CPD

Q&A

Thank

you