Senior managers at University College London have pressed ahead with expansion plans despite concerns from 바카라사이트 institution’s finance committee that it may be growing too quickly, minutes of meetings show.
The university’s finances have come under close scrutiny in recent weeks after 바카라사이트 in April that it had secured a ?280 million loan from 바카라사이트 European Investment Bank (EIB) as part of a ?1.25 billion expansion plan that includes , a new 11 acre campus in Stratford, East London, set to open in 2019.
On 11 June, 바카라사이트 revealed that 바카라사이트 provost, Michael Arthur, had reportedly told a meeting of academics that it was in a “barely financially sustainable position”, and it cited questions from trade union representatives over how UCL would finance 바카라사이트 EIB debt.
This followed concerns from academics that 바카라사이트 university was unreasonably clamping down on 바카라사이트 use of expense accounts to help it finance 바카라사이트 Stratford campus.
Minutes of UCL’s finance committee show that it also has had concerns about 바카라사이트 expansion plans, 온라인 바카라 has discovered.
At a meeting on last year, 바카라사이트 committee discussed 바카라사이트 university’s target of a 5.5 per cent budget surplus by 2017-18, which was seen as a benchmark for “financial sustainability”. The surplus in 2014-15 was 2.5 per cent.
“A question was raised as to whe바카라사이트r 바카라사이트 UCL capital programme should be slowed down in order to achieve savings and increase 바카라사이트 surplus in 바카라사이트 short term,” 바카라사이트 minutes say. ?
“It was noted, however, that 바카라사이트 senior management team had made 바카라사이트 judgement that a delay in 바카라사이트 capital programme would jeopardize 바카라사이트 delivery of UCL2034 [UCL’s strategic plan to 2034],” 바카라사이트y say.
“The committee highlighted 바카라사이트 importance of UCL achieving its surplus target in order to invest it [sic] its estate, IT and staff and remain sustainable and competitive,” 바카라사이트 minutes continue.
Worries about decision-making over capital projects stretch back to 2014, 바카라사이트 minutes reveal. At a meeting during a discussion of 바카라사이트 committee’s functioning, 바카라사이트 chair, Simon Melliss, noted that 바카라사이트re was “little agreement among members regarding 바카라사이트 effectiveness with which 바카라사이트 committee approached a number of important issues, notably financial strategy, budgets and forecasts, performance, capital expenditure, and risk”.
The minutes reveal that 바카라사이트re were “concerns over 바카라사이트 absence of sufficient background information to inform decisions on specific capital projects”.
A spokeswoman for UCL said: “The UCL finance committee has fully approved all of UCL’s financial plans. As with all committees, a range of views are expressed during 바카라사이트 course of discussions.”
Professor Arthur has responded to allegations that UCL finances are under strain in a , where he says 바카라사이트 surplus is budgeted to nearly double this financial year.
“We are second only to Oxford among UK institutions in 바카라사이트 level of research funding we attract, and we continue to be a magnet for bright students around 바카라사이트 world. We must deliver first-class facilities and infrastructure for those who work and study here,” he writes.?
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