The target is to save £35m from our total budget (circa £500m) by 2011-12. By the start of the academic year 2010-11 we had identified about two-thirds of the savings. Ideas were put forward by all parts of the University - staff, schools, faculties and services.
We have made savings in a range of ways, including the voluntary leavers' scheme for staff. There were over 600 applications for the scheme, with 496 staff leaving the organisation, which will generate annual savings of up to £15m a year. There have also been savings in non-staff costs; for example, £1m was saved through changes in printing, stationery and furniture. Our plans for capital spending on buildings and refurbishments have also been slowed down.
How will the remaining savings be found?
Ways of making the remaining savings will be found through the next planning round and the work of review and service delivery groups. We will continue to take detailed progress reports to the University's academic authority, the Senate so that it can review and advise on the academic implications of proposals that emerge.
Our mission and strategy - world class excellence in teaching and learning, research and scholarship - is unchanged, and safeguarding these core activities remains our priority.
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