Finance Department scoop award at the Times Higher Education Leadership & Management Awards

 The Times Higher Education Leadership & Management Awards recognise outstanding work across management, the professional services and administration of the UK’s world-leading higher education institutions.

The Finance team at the University of Edinburgh, the judges said, had improved the efficiency of processes, delivered training to staff to improve knowledge and secured significant procurement savings.  

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The University gained procurement efficiencies of about £13.7 million in 2016-17, as a result of  the university’s procurement experts adding value  through shared competitive tenders and awarding major contracts.

Delivery of the University’s year-end financial results was streamlined by using a “rigorous project management approach” that allowed draft results to be presented just four weeks after the academic year’s end. 

The judges pointed out that the institution’s fiscal responsibility extended to “effective use of funds”, which led to its becoming the first UK university to invest in Big Issue Invest, the social investment arm of the Big Issue Group, which funds social enterprises that tackle social problems such as homelessness and youth employment.

Transparent accounting principles

Also introduced was a new financial planning and forecasting methodology based on “transparent accounting principles” to create a financial model that all staff could understand and use. This now helps Edinburgh to deliver three-year rolling forecasts each quarter.

In awarding Edinburgh the prize, the judges said that they took into consideration how the institution benefited from the implementation of the new strategy compared with previous years. They were impressed by the submission, which demonstrated that the finance team was helping to instil financial stability in all areas of the University.

Over the past decade, these awards have shown how those running our universities – together with their exceptionally talented teams – have risen to every challenge thrown their way, and once again our judging panel were left inspired by the examples of individual and collective brilliance that shone through. Our hope is that the winners will also inspire others working in universities across the UK, and provide examples that they can emulate and adapt to improve their own institutions.

John Gill

The full list of this year’s winners is as follows (profiles can be viewed here)

Workplace of the Year - School of Engineering and Digital Arts, University of Kent Knowledge Exchange/Transfer Initiative of the Year - Teesside University Outstanding Student Services Team - London South Bank University International Strategy of the Year - De Montfort University Outstanding Marketing/Communications Team - University of Glasgow Teaching and Learning Strategy of the Year - University of Derby Outstanding Library Team - White Rose Libraries (the universities of Leeds, Sheffield and York) THE DataPoints Merit Award - Anglia Ruskin University Outstanding Estates Strategy - Norwich University of the Arts Excellence in Registry Services - London School of Economics and Political Science Outstanding Employer Engagement Strategy - University of Gloucestershire Outstanding Digital Innovation of the Year - Leeds Beckett University Outstanding Strategic Planning Team - University of Huddersfield Outstanding Financial Performance - University of Edinburgh Outstanding Leadership and Management Team - University of Huddersfield

Find out more

For more coverage of the awards, profiles of the winners, and photos from the evening, please visit www.thelmawards.co.uk