UCU met with University management to discuss concerns on the 11th Nov 2020
UCU asked for update, with info re Covid spending
UoN update:
When Covid struck in March, we lost £43m income (commercial, research, tuition), approximately half of it related to a reduction in research income. We would have been in dire straits in August, at the end of the financial year, and therefore had to introduce stringent spend controls. The Emergency Finance Group chaired by Andy Long was created to monitor spend. The finance plan worked better than anticipated and the net debt position (£100m) is as strong as we could have hoped going into this financial year.
Continue reading “Summary of Meeting with UoN – Finance”