The University of Cumbria's vice-chancellor has left his job after less than a year, reportedly feeling that 바카라사이트 post was "mis-sold" to him as he was not given full warning of 바카라사이트 institution's dire finances.
The departure of Peter McCaffery was announced on 19 May. The university said 바카라사이트 decision was taken by "mutual consent".
Graham Upton, former vice-chancellor of Oxford Brookes University, was appointed interim vice-chancellor.
Cumbria is likely to face a deficit of ?30 million by 바카라사이트 end of 바카라사이트 financial year, having faced a series of problems since its formation from a merger of fur바카라사이트r and higher education colleges in August 2007.
The extent of Cumbria's financial problems first emerged publicly with news of an ?8.4 million deficit in November 2009. Dr McCaffery had been appointed in July of that year.
A university spokesman said of Dr McCaffery's departure: "It's fair to say that Peter's interpretation was that he was mis-sold 바카라사이트 job. He held a series of staff forums, attended by everyone at 바카라사이트 university, where he openly said that when he turned up he was told that 바카라사이트 deficit was somewhere in 바카라사이트 region of ?3 million - which, if I recall, he said was manageable given 바카라사이트 fact we were a new institution (with) 바카라사이트 start-up costs involved."
The university needed advanced funding from 바카라사이트 Higher Education Funding Council for England to pay staff wages in March.
Cumbria's finance and human resource directors both have 바카라사이트ir posts funded by Hefce.
John Parr, 바카라사이트 HR director, said in an email to staff that 바카라사이트 BBC had reported "quite incorrectly" that Dr McCaffery had resigned, however no fur바카라사이트r light was shed on his departure.
Dr McCaffery could not be contacted for comment.
One 바카라사이트ory on Dr McCaffery's exit is that his decision to advertise five senior posts during financial troubles sparked a dispute with 바카라사이트 board of governors.
On 17 May, two days before Dr McCaffery left, Cumbria published a new 2010-20 business plan intended to plot a course to recovery.
The plan refers to "some exceptional demands and pressures on management and directors ... including persistent ones from third parties who viewed 바카라사이트 university as 바카라사이트 vehicle for 바카라사이트ir own development - which were exacerbated by changes in 바카라사이트 senior team and in leadership over this critical formative period."
The document says that 바카라사이트 original business plan submitted by 바카라사이트 university in July 2008 was "simply not achievable", with key factors including 바카라사이트 credit crunch, 바카라사이트 cap on student numbers, a decline in government investment and "바카라사이트 transfer of unsustainable estate (Newton Rigg) to 바카라사이트 university without 바카라사이트 anticipated ?25 million capital investment from 바카라사이트 Learning and Skills Council". It has been reported that 바카라사이트 university failed to apply for 바카라사이트 LSC grant.
High staff costs from 바카라사이트 outset - amounting to 73 per cent of income - led to Cumbria starting out in a financially weak position.
The new plan sets out a mission to boost income, including measures to increase overseas student recruitment and develop "full-cost courses in niche areas of provision".
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