Resource Allocation Policy

Overview

1. The Resource Allocation Policy (the Policy) is designed to support Northeastern University London’s (the University) mission by ensuring that the resources of the University are allocated in the way best suited to support that mission and its strategic plan and to ensure that the University is also addressing its responsibilities to its constituent parts such as students, staff, funding bodies, partners, suppliers and the general public. This Policy forms part of the University’s control and governance structure and it is designed to give transparency to the process for relevant parties and an understanding of how the process works.

Overarching Approach

2. The overarching approach that will be taken by the University in relation to resource allocation:
   1. The University’s resource allocation decisions will be informed by the University’s mission statement and its strategic plan.
   2. Resource allocation needs to take into account the financial sustainability of the University.
   3. Resource allocation will always be informed by the need to uphold standards and quality of provision, including the infrastructure of the University.
   4. Resource decisions will be taken in such a way as to uphold the University policies on academic independence, fairness, equality and diversity.
   5. The University will communicate openly and transparently on decisions about resources.

Allocation of Roles

3. The Resource Allocation Group (RAG) is the committee responsible for monitoring the implementing this Policy. The RAG reports to Executive Committee (ExCo) and ultimately to Northeastern London Board. The Northeastern London Board sets the overall University budget.
4. The Policy timetable will be:
   1. September-November
      1. Forecast of student numbers for the following academic year broken down by programme and as required by Faculty and by courses.
      2. Meetings held with budget holders, including relevant members of the Academic leadership team or other relevant members of faculty, to discuss budgets for the following financial year. These discussions would cover revenue expectations as well as costs including staffing requirements and other resources (e.g. library) required to deliver the student experience and outcomes for the University’s students.  
      3. RAG meetings to review process and request changes prior to budgets submission to the ExCo.
   2. December
      1. Presentation of proposed budget to ExCo in advance of Board meeting.
   3. January
      1. Northeastern London Board’s first review of the budget for the Financial Year starting the following July.
   4. February-March
      1. Revision meetings held with budget holders if required following a Northeastern London Board meeting.
   5. April
      1. Northeastern London Board’s approval of the budget for the Financial Year starting the following July.
      2. RAG meeting to ensure that budgets for the following academic year have been communicated to budget holders.

Annex A: Organisation Structure For Resource Allocation Policy