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Financial Planning & Risk Management - Team Purpose Statement

We serve the University and external stakeholders by producing timely, accurate and relevant financial information that provides Trinity with the information required for strategic and operational decision making. We drive Trinity's economic model by providing information for financial planning and forecasting that will meet Trinity's need for growth and financial sustainability.

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Financial Forecasting

Rolling 5 year financial forecasts are prepared bi-annually and are reported to Board, Finance Committee and Planning Group. The forecasts are prepared and co-ordinated by FSD and also involve input from a number of offices and areas throughout the University e.g. student number forecasts, staffing plans, new strategies and capital projects etc. Trinity aspires to a 3% surplus as advised by the OECD in the HEA's Higher Education Performance Report 2014-2016 and the forecasts provide a roadmap to achieve this target.

Annual Budgetary Cycle (ABC)

The Annual Budgetary Cycle aims to achieve a greater alignment of Trinity's financial resources with its core objectives of supporting excellence in education and research, and of directing investment towards strategic priorities. This will involve a greater integration of the University's strategic planning with its budgetary processes to ensure that resources are allocated to meet critical operating needs and strategic objectives.

Each year, ABC preparation and planning begins in September and concludes in June allowing the entering of budgets for the forthcoming year to the financial information system (FIS). The actual and budget positions can be viewed through Oracle Business Intelligence (BI) and the Management & Financial Accounting team (contact details available here) can provide more infomation on the use of BI.

Budget queries should be addressed to the relevant Faculty or Division Finance Partner in the first instance. (Contact details for Finance Parters)

 

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Last updated: Aug 15 2017.
Contact: Financial.Services@tcd.ie