Financial Planning and Management
Developing a Strategic Financing Plan
We will endeavour to be granted a permanent multi-year financing plan by the Principality of Asturias through an analysis of medium and long term financial needs, as associated with the achievement of academic, scientific and transfer goals.
Fundraising and Business Chairs
We will increase the number of company and institution chairs, acting proactively to cover all business in the Principality of Asturias. We will set up agreements with national and regional business bodies that facilitate new opportunities for employment. Links with the business community will facilitate graduate employability, as well as additional funding for the University of Oviedo, thus diversifying our institution’s financing and creating new avenues for university-industry collaboration.
We will grant departments and faculties a wider financial and organizational autonomy. In addition to that, we will decentralize the financial management of project bills from the Research Support Service into our departments and faculties. Similarly, we will decentralize the academic management of the university’s different doctoral programmes, masters’ degrees and diplomas.
Basic Budget for Faculties, Departments and Research Groups
Faculties, departments and research groups will be granted a standard basic budget that can be used freely for traveling or other expenditure, always with complete transparency –invoices will be posted on the corporate website. We will improve our position in international rankings by our meeting the goals as set by a programme-contract to be signed with the Principality of Asturias. We will apply clear and stable criteria in the fund distribution to faculties and departments.
Improving Travelling Management and Payment
We will go over the norms for budget management in order to save money and improve financial management. We will provide faculty with debit cards in order to speed up payments. In order to cut costs, payments will be honoured within a maximum thirty days and wholesale purchases will be given priority. We will promote efficient and agile handling of travelling funds by centralizing their management into a single service and gathering together all specific vice-rectorate budgets.
Outsourced Services Analysis
We will assess the financial efficiency of currently outsourced services and retrieve those that may involve an excessive cost for the institution and could be easily assumed.
We will carry out a management scheme based on analytical accounting criteria. In this way, we will ascertain an efficiency level for each of the schools and units of the university, which will help significantly into making strategic decisions, reducing costs where appropriate and devising a correct income projection. This will, in addition, grant access to funding sources that are currently not available.
University Halls of Residence
We will revise the present state of residence halls in regards to pricing, services as offered and administrative concession schemes, all in order to optimize these resources in accordance with the goals pursued therein.