The Financial Plans

The University Capital Management Plan

The University Capital Management Plan quantifies the University’s capital investment plans and priorities for physical facilities and infrastructure.

Information on the availability of the University Capital Management Plan is available from the Current University Plans and Performance Reports page.

It is a five year plan that is revised and rolled forward annually, forming a crucial component of the annual budget for the following year. 

It is the responsibility of the Vice-President (Services and Resources) to ensure that the UCMP encapsulates the priority facilities requirements of all business areas in order that the University can meet its strategic objectives and targets.

The University Capital Management Plan is reviewed by the University Planning and Budgeting Committee and endorsed for approval by the Vice-Chancellor and President.

The University Budget

The University Budget quantifies planned revenue and expenditure for the next financial year. It is an annual plan but is developed in the context of a five-year outlook which considers the impacts of the University’s Strategic Plan objectives and any other relevant factors, such as Commonwealth Government reforms or changes in regulation and competition.

Information on the availability of the University Budget is available from the Current University Plans and Performance Reports page.

The budget development process is as follows:
• The University’s previous year’s financial performance is benchmarked and financial budget targets set in consultation with the Vice-Chancellor & President and in line with Council approved targets.  The Budget Model is reviewed and any changes discussed by the University Planning and Budgeting Committee and approved by the Vice-Chancellor’s Committee.
• The University’s funding priorities for the Budget are determined in the context of the objectives of the University’s Strategic and Operational Plans.
• Targets for student load and research income are prepared for the following year in consultation with Executive Deans and discretionary revenue calculated for the budget based on the agreed targets and known Commonwealth funding parameters. 
• Additional revenue is allocated or reserved, based on the financial budget targets set by the Vice-Chancellor & President and approved by Council.
• Expenditure is calculated using previous expenditure limits, any required improvement in the operating surplus, Enterprise Bargaining and other indexation costs, increased strategic funding and other growth/cost pressures.
• Faculties and Divisions update their Business Plans on the basis of agreed budget parameters.
• The University Budget is finalised.

The University’s Budget is a “collegiate” and priority-based model. It is not formulaic and the decisions taken on resource allocation should be transparent to all Faculties and Divisions.

The Chief Financial Officer oversees the budget process. The Deputy Vice-Chancellor & Vice-President (Academic) approves Faculty student load targets in line with the Strategic Plan. The Deputy Vice-Chancellor & Vice-President (Research) approves Faculty research income and Higher Degrees by Research targets.

The University Budget is reviewed by the University Planning and Budgeting Committee and endorsed for approval by the Vice-Chancellor and President.  Council gives final approval for the University Budget.