1 / 6

The Vote Formula

The Vote Formula. Imperial College’s Resource Allocation Methodology. Carole Hobden Planning April 2010. What is the Vote Formula?. The College’s main mechanism for distributing general funds to the faculties (and the Business School)

idalia
Download Presentation

The Vote Formula

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. The Vote Formula Imperial College’s Resource Allocation Methodology Carole Hobden Planning April 2010

  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. 2010-11 Vote Formula:Allocating the Gross Vote Gross Vote £192M The following four items are distributed to faculties before the teaching and research formula are used Research Teaching £17.6M - £0.4M £3M 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) - £1.5M £16M £15M Gross Vote remaining £139M 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 (55%) £76M Research (45%) £63M 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. Once the Gross Vote has been calculated, the next stage is to calculate each faculty’s share of the infrastructure charge (£99M) using four streams of information… Business School Natural Sciences Medicine Engineering

  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)

More Related