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The Vote Formula: Resource Allocation Methodology

The Vote Formula: Resource Allocation Methodology. Planning Division April 2011. What is the Vote Formula?. The College’s main mechanism for distributing general funds to the faculties (and the Business School)

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The Vote Formula: Resource Allocation Methodology

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  1. The Vote Formula: Resource Allocation Methodology Planning Division April 2011

  2. What is the Vote Formula? • The College’s main mechanism for distributing general funds to the faculties (and the Business School) • Most (but not all) income from HEFCE and from fees that the College receives is distributed to faculties through the Gross Vote Formula • Some of that resource is retrieved through the Infrastructure Charge mechanism to fund the College’s support services

  3. The Vote Formula • Each Faculty (and the Business School) receives a Net Vote allocation • This consists of its share of the Gross Vote • Gross Vote = T + R + c + s + o + p • less its share of the Infrastructure Charge • Net Vote = Gross Vote – Infrastructure Charge

  4. Gross Vote £199M 2011-12 Vote Formula: Allocating the Gross Vote The following four items are distributed to faculties before the teaching and research formula are used Research Teaching £17.9M - £0.8M £3.6M HEFCE funding for charity funded research (c stream) HEFCE funding for strategically important and vulnerable subjects (s stream) 100% premium element (premium fee less standard fee) (p) 25% standard overseas fees (o) - £1.4M £18M £16M Gross Vote remaining £141M The Gross Vote is then split between R and T using the “R:T ratio” These amounts are distributed via the Research and Teaching formula using weightings and volumes Teaching (56%) £79M Research (44%) £62M 2008 RAE-active staff (Category A) Student load (PGR) Research grants and contracts exp. on staff • Student load (UG and PGT) Volumes (i.e. activity) • Type of student (UG, PGT) • Teaching (own, service, export) • Subject • RAE quality weighting • Subject Weightings

  5. Infrastructure Charge • Once the Gross Vote has been calculated, the next stage is to calculate each faculty’s share of the infrastructure charge (£101.5M) using three streams of information… Business School Natural Sciences Medicine Engineering 8% 3% 2% 4% 29% 24% 28% 30% 48% 32% 35% 24% 37% 37% 33% 24% Student load 33.3% Staff FTE 33.3% Space 33.3% Total

  6. Where can I find out more? • On the Planning Division website: www.imperial.ac.uk/planning/strategy/resourceallocation • By contacting the Planning Division: Carole Hobden (c.hobden@imperial.ac.uk; ext. 47212) Jamie Collier (j.collier@imperial.ac.uk; ext. 47266)

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