8.4 Financial resources

This category covers information on the institution's strategy and management of financial resources. The finance department provides accounting, procurement and contracting services, helping to make best use of resources and fulfilling statutory responsibilities.

Access to online information is free. For other costs, please see the University's charging policy.

  1. Financial statements
  2. Budgetary processes
  3. Budgets overview
  4. Financial regulations
  5. Anti-bribery and Corruption
  6. Insurance
  7. Senior staff remuneration
  8. Investments
  9. Debt Policy
  10. Refund Policy

1. Financial statements

The institution's annual accounts, which include information about audits.

The way Universities report their end-of-year financial position has changed from 2015-16, which means their accounts will look significantly different in comparison to previous years. It is important to note that the underlying financial performance of many universities has not changed, the only change is to the way they are reported.

This is as a result of a new accounting code introduced by the UK accounting standards body, the Financial Reporting Council. The code - ‘FRS102’ - changes the way some income, expenses, assets and liabilities appear on the financial statements.

Annual Reports and Financial Statements have traditionally been viewed as pages of numbers for accountants to pore over, they are often impenetrable and with limited use to non-financial stakeholders. Guided by best practice, we have taken a step towards Integrated Reporting.

An integrated report says who we are and where we are going. The Integrated Reporting website says Integrated Reporting is 'a concise communication about how an organisation’s strategy, performance and prospects… lead to the creation of value over the short, medium and long-term'.

It is very different from what universities have done in the past. Most universities are yet to prepare Integrated Reports. With some exceptions, the institutions’ annual reports are simply a presentation of their financial statements. Unless the reader knows how to interpret the numbers, such reports don’t do the story justice.

Our Integrated Report tries to adopt a more strategic and forward-looking focus, to provide a more comprehensive picture of the activities and performance at Abertay. It is accompanied by a technical annex which sets out the full financial disclosures and reconciliations:

2. Budgetary processes

Policies and procedures for making budgetary allocations to major budgetary units.

Please visit the University's page on Corporate information.

All requests should be directed to:

Freedom of Information, Academic Registry, Abertay University, Bell Street, Dundee, Scotland DD1 1HG

Email: foi@abertay.ac.uk

3. Budgets overview

Summary of overall budget and budgetary allocations to major budgetary units.

Requests for information should be directed to the contact details above.

4. Financial regulations

Institution's financial administration manual.

5. Anti-bribery and Corruption

6. Insurance

Summary information on the institution's major insurance policies.

Please make an information request to the contact details above.

7. Senior staff remuneration

Principal's remuneration and statistical information on remuneration of other senior staff required to be published under the Scottish Funding Council's Financial Memorandum.

Information relating to the remuneration of the Principal and other senior staff is available at the top of this page at section 1. Financial statements

Information about travel, hospitality, subsistence and accommodation expenses for the University's Executive is available immediately below. Please note that these matters are governed by the University's travel procedure amended.

Executive expenses:

8. Investments

Summary information on institutional endowments and investments

Information is available in the University's Annual Accounts, for which please visit the University's Corporate information page, which is linked above. Information is also available at the section on Investment & Endowment Summaries & Responses, in the University's Disclosure Log.