Focus on Costing At The Heart Of Derby Offer
19 September 2011
We used our modelling systems to direct decisions on the fees required to ensure financial sustainability from 2012.
”In what have been turbulent times for Higher Education Institutions, Derby's Finance Team's dedication to detail meant that the University was ahead of the game when it came to calculating its transparent fee structure for 2012.
Ten years ago, the Finance Team began a rigorous approach to costing across the University - establishing the importance of accurate cost collection and pursuing relevant activity data such as space management and workforce planning.
In doing so, the costing team led by John Hurd and Joanna Robson have been able to map what is a very complex organisation and create a flexible costing model for the whole University.
Financial Controller, Rob Lloyd, said: "We use our modelling systems to cost the teaching, the space, the equipment, the systems and the support services that make up our core offer. This has modelled the University's future finances and directed decisions on the fees required to ensure financial sustainability from 2012."
Consequently the University grouped its programmes into four tiers for its 2012 fees, from standard programmes at £6,995 per year, resource intensive at £7,495 per year, specialist at £7,995 per year and premium at £9,000 per year.
Derby's comprehensive approach to costing has achieved peer recognition from across the HE sector which resulted in John Hurd being invited to join the National (HEFCE) Strategic Costing Group to guide the HEI sector on the way forward.
The recognition is hard won and well deserved for the Costing Team as it strives for best practices in costing and providing key information for decision making.
