UCL Finance: Managing Resources for a World-Leading University

UCL’s Finance division, accessible at ucl.ac.uk/finance, is responsible for the strategic management and effective stewardship of the university’s financial resources. As a complex, global institution, UCL requires robust financial processes and expertise to support its diverse activities across research, education, and innovation.

The primary aim of UCL Finance is to ensure the university’s financial sustainability and compliance with regulatory requirements. This involves a wide range of functions, including:

• Financial Accounting and Reporting: Preparing accurate and timely financial statements in accordance with relevant accounting standards. This ensures transparency and accountability to stakeholders, including funders, regulators, and the public.
• Management Accounting: Providing financial information and analysis to support decision-making across UCL’s departments and faculties. This includes budgeting, forecasting, and performance monitoring.
• Treasury Management: Managing UCL’s cash flow, investments, and debt to optimize financial returns and minimize risk.
• Procurement: Overseeing the university’s procurement activities to ensure value for money and compliance with procurement regulations. This includes negotiating contracts with suppliers and managing the supply chain.
• Tax and VAT Compliance: Ensuring UCL complies with all applicable tax and VAT regulations, both in the UK and internationally.
• Research Finance: Providing specialist support for research grant applications and financial management of research projects. This is a critical function given UCL’s extensive research portfolio.

The UCL Finance website serves as a central resource for staff seeking guidance on financial policies, procedures, and systems. It provides access to key documents such as the Financial Regulations, Expense Policy, and Procurement Policy. The site also includes information on training and support available to staff involved in financial management.

Beyond these core functions, UCL Finance plays a vital role in supporting the university’s strategic objectives. This includes providing financial expertise for major capital projects, such as new buildings and infrastructure improvements. It also involves developing financial models to assess the viability of new academic programs and research initiatives.

The Finance division is structured to provide a responsive and efficient service to the UCL community. It is led by the Chief Financial Officer (CFO), who is responsible for the overall financial strategy and performance of the university. The CFO works closely with senior management and the university’s governing body to ensure financial resources are aligned with UCL’s strategic priorities.

In conclusion, UCL Finance is a critical enabler of the university’s success. By providing sound financial management and support, it helps UCL to achieve its mission of delivering world-class research, education, and innovation.