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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.

Annual Accounts 2002 - 2003
Annual Accounts 2003 - 2004
Annual Accounts 2004 - 2005
Annual Accounts 2005 - 2006
Annual Accounts 2006 - 2007
Annual Accounts 2007 - 2008
Annual Accounts 2008 - 2009
Annual Accounts 2009 - 2010
Annual Accounts 2010 - 2011
Annual Accounts 2011 - 2012
Annual Accounts 2012 - 2013
Annual Accounts 2013 - 2014
Annual Accounts 2014-2015

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:

Integrated Report 2015-16  ‌Technical Annex 2015-16 

Integrated_Report_2016-2017 Technical_Annex_2016-2017

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.

Financial Regulations 2016

5. Anti-bribery and Corruption

Anti-Bribery Code of Conduct and Policy

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 in the University's Annual Accounts which are also available on this page, above.

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:

Executive Expenses January 2013 - August 2017

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

9. Debt Policies

The University's policies are:

Commercial Debt Management Policy 2017-2018

Student Debt Management Policy

10. Refund Policy

Student Refund Policy 2017-2018