The conference drew attention to the achievements of the Faculty of Arts in eliminating fundamental budget problems. The financial plan is based on the operations of the legal entity of the University of Melbourne. NMHRC funding now accounts for the majority of research funding growth at the university and further growth in market share is uncertain.
The following financial table provides an inside look at each of the university's major budget departments. This table differs from the one in the financial plan as it shows the internal operations of the university. Official launch of the Melbourne Graduate School of Management with a major branding and marketing campaign.
Support the development of new and improved teaching methodologies for teacher education, particularly in the context of the Master of Teaching. The mission of the Faculty is to deliver the highest possible quality of education, research and research training in all its disciplines. The university achieved a world standing of 17 in the 2007 THES ranking for biomedicine, reflecting the strength of the faculty disciplines.
Ensure that the integrity and quality of teaching of discontinued courses is maintained.
EXPENDITURE
INCOME
Key Budget Inputs - Recurrent Income
- Commonwealth Funding
- Estimated CGS funding for 2009-2011 is as follows
- Estimated RIBG funding for 2009-2011 is as follows
- Student Profile and Revenue Targets
- Investment Earnings
- Trust Distribution
- General University Income
The first of these is the determination of recurring income streams (non-direct research) available to the university. The student profile at the University of Melbourne is diverse and included more than 45,000 enrollments or 35,500 equivalent full-time students (EFTSL) in 2008. Much of the growth has been a result of the Melbourne model in the professional postgraduate programs in Architecture, Building and Planning, Education and Law .
The process for negotiating state-funded study places takes shape through a funding agreement between DEEWR and the university. In 2007, for the first time, the university negotiated and signed a historic three-year funding agreement covering the period of transition to the Melbourne model. The University has recently been in discussions with DEEWR to change the funded load clusters and funding for 2009 as a result of results in 2008 and transitional arrangements in response to the phasing out of Australian full fee paying undergraduate students.
The University agreed to increase the student profile by 100 EFTSL in 2009 to accommodate this change in policy. The profile negotiated with the Commonwealth is based on a long-term view of the University's profile under the Melbourne model. Over time, it is expected that the total burden of the University will be maintained at current levels and GSPs will decrease incrementally as a proportion.
While it is essential that a student load profile is developed each year in terms of fee-paying domestic and international students to guide marketing and recruitment activities, the overriding objective is that the University can continue to meet agreed fee revenue targets. The student profile developed to achieve the 2009 fee income targets has been informed by the university's annual financial plan submitted to the finance committee in mid-2008, the fee-paying student performance for 2008, and also advice from faculties and Ph. d.-schools about future demand and enrollment patterns. With the introduction of New Generation undergraduate degrees, the university seeks to ensure that its budget model supports the goals of interdisciplinary teaching, cooperative governance and high-quality student support for all students.
The spending policy takes into account the average earnings of the previous two years and the forecast current year. This methodology enables a smooth flow of investment income into the annual budget and enables the University to prepare for future years when investment performance is poor. These generous gifts enable the University to make contributions to activities that would not otherwise be possible.
Key Budget Inputs - Subvention Funds
- Faculty and Graduate School Support Allocations
Funds have been set aside to support faculties and PhD schools within three main areas, specific programmes, research and transitional arrangements. Faculty and graduate school support programs represent strategic imperatives for individual faculties and graduate schools. It is recognized that in order for faculties and PhD schools to carry out additional activities, additional funds are required to cover the costs beyond the normal faculty and PhD school structure.
The remaining $2.107 million has been drawn from faculties and graduate schools on the basis of operating income. Faculty of Victorian College of Arts - $15,295 million in 2009 is allocated to the Faculty under the Integration Agreement between the University of Melbourne and the Faculty. The grants for 2010 and 2011 are indicative only and revised amounts will be calculated each year as part of the budget process.
Faculty of Veterinary Medicine – $1.5 million over the next three years will be allocated to the faculty to cover costs associated with operating the veterinary clinic and hospital. Melbourne School of Land and Environment (MSLE) – An allocation of $0.2 million will be made to MSLE for the transition costs associated with the integration of the Department of Geography and the Office of the Environmental Programs. Faculty of Arts – An allocation of $2 million will be made to the Faculty of Arts to fund the $8 million arts renewal, which will begin once the Faculty reaches its 2008 financial goals.
The fund will allow the faculty to engage a new generation of researchers to improve facilities and support new initiatives. Melbourne Graduate School of Education – An award of $3 million to the school to assist it in its transition to a graduate school and an additional annual program grant of $0.3 million as a contribution to additional infrastructure costs associated with the administration of LH Martin Institute for Higher Education Leadership and Management. Faculty of Science – An annual allocation of $0.182 million to the Faculty to support programs delivered by the Victorian College of Optometry, and a further annual allocation of.
Melbourne School of Engineering: $0.2 million in 2009 and $0.1 million in 2010 to the School for marketing support for its transition to a graduate school. Faculty of Music/Victorian College of the Arts: A one-off grant of $0.2 million to support the music program integration strategy. Research support will be reviewed in 2009 in the light of funding outcomes arising from the Cutler review and, as a result, 2010-11 awards are only assumed.
- Academic Support Allocations
- University Programs
- University Management
- Grants to Third Parties
- Budget Reserve
- Key Budget Inputs –
Of this, $23.965 million is expected to go to the Commonwealth, with the rest coming from colleges and graduate schools. 0.250 million is allocated as a further contribution to support the development of the Writing Center within the School of Graduate Research;. 38.885 million in 2009 was allocated for scholarly information including library staff, space charges and central library purchases.
Next Generation Professors and Fellows - $2 million is set aside for Next Generation Professors and Fellows. Melbourne Ventures - $2.5 million has been allocated to UMEE Ltd to support licensing activity, strengthening the management of the University's key IP-related assets;. Center for the Study of Higher Education (CSHE) – An annual allocation of $0.820 million is made to CSHE within the Melbourne School of Education in recognition of its university-wide contribution to teaching and learning; .. E-Learning Initiatives – $2.8 million earmarked for e-Learning initiatives;.
Goulburn Valley & ASHE - A recurring contribution of $0.379 million is earmarked for university initiatives located in Shepparton and associated programs, and a contribution to the development, in partnership with the Indigenous community, of the Academy of Sport. Nossal Institute of Global Health - An award of $0.650 million has been made to the Nossal Institute of Global Health, located in the Faculty of Medicine, Dentistry and Health Sciences. Melbourne Theater Company (MTC) project management – An award of $0.055 million has been made to assist Property and Campus Services and MTC with the preparation and project management of a new site for the Melbourne Theater Company.
International Open Day – As of 2009, an annual allocation of $0.100 million has been made for International Open Day costs. Off Shore Offices - $2,150 million is committed to the development and maintenance of the University's international. Melbourne International Office - $2.076 million is allocated to the Melbourne International Office management and administration of the university's international activities;.
Major Initiatives Fund (including MMIC) - In 2009, $4.020 million will be earmarked for the Major Initiatives Fund and Melbourne Model Implementation & Contingency (MMIC). An allocation of $16.341 million has been earmarked for grants to third parties. Of this, $1 million is for program savings (included in the Accountable Divisional Management – University Program Implementation Initiatives).
PROPERTY COMMON SERVICES CHARGES
- Key Budget Inputs – Research Support Fund
- Key Budget Inputs - General University Costs (GUC)
- Key Budget Inputs - Drivers
- Key Budget Inputs - Higher Education Indexation Factor
The Research Support Fund raises funds through grants to faculties (except VCA and graduate schools during the term of the contract). The latter figure was based on the total amount (i.e. $11.1 million) for the RHD load in the current IGS scheme, then redistributed between faculties and graduate schools based on a weighted calculation for RHD completions. The 'IGS Adjusted Weights' are then based on each Faculty and Graduate School's contribution to the $35.3 million total endowment as if it included RHD completions instead of RHD load.
This amount would then be redistributed among faculties and graduate schools based on the adjusted insurance benefit weights shown in Figure 1. From 2009, general university costs will be treated as expenditure items within budget departments, responsible for their results and to be managed by those departments. In 2009, the management of previous GUC budget items will be reviewed by the head of these departments and quarterly reports to the senior executive director.
It is expected that these divisions will place future budget bids for significant variances to line items or additional line items, but that minor variances are accounted for within the budget division. Unspent reserves for individual line items will be taken into account when placing additional bids. The CFO is responsible for appropriate accounting and reporting and as such will determine the management of the line items within the University's chart of accounts.
As a result of this change of direction, the General Management Committee of the University no longer functions. Additional Program Teaching Expenses (formerly MUPHAS) 0.159. i) The GUC items above do not include a provision for the provision of maternity leave. The estimated cost of maternity leave at $5.2 million will be recovered from appropriations through a 1% wage cost.
The following tables present the drivers used to allocate indirect costs to faculties and graduate schools. Budget year 2009 management data is the average of actual 2007 expenditures plus 2008 projected expenditures. Budget 2009 management data is the average of 2007 actual expenditures plus 2008 projected expenditures.
