Comment 068 March 1993

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the College Newsletter --------

HEFC

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Funding

SlVen top-ranking researclr universitiesOxford, Cambridge, University College London, Batlr, King's College London, Mancltester and Sussex - Irad tlreir increases capped at 15 per cent. ' (['he I Iigher, 26 February 1993,jront page story)

King's College ha moved from being an institution that required a ' afety-net' to one whose funding increase wa 'capped'. Our improved re earch ratings just before Christmas have now translated into the maximum permitted growth in 'R' income, and our growth in tudent numbers ha been rewarded by some competitively awarded 'marginal teaching' funding. Ifwe take into account the safety net we had la t time, our real rate of increa e in funding i about 8.7%, not the 3.6% calculated by the I lE FCE and published in the press. This would move us from the equal 113th po ition hown in Tire lIiglrerof26 Pebruary, to about 40th. Within the 'old' universitie of . ngland, onl nine ach ieved an increase larger than th is. ntil we get from the HEFCE the fine detail of the allocations, we cannot identify the exact amounts attributable to each co t centre, and can not make a

nnouncement

fine a scssment of our likely budget for next ession. It does however make our task ea ier: the magn itude of the revi ion of our trategic plan is not as great as it would have been without the very good research growth. The effect of pump-priming from our Re earch trategy Committee is evident in the re ult ; it has proved to have been money well spent. We cannot rest on thcse laurel, for we still have some way to go to be as strong as I would like. To balance our budgets, and to achieve a surplus for imaginative inve tment in ite amenitie and repair, academic initiatives, and tudent ervice , we still have to achieve all the reduction in taff co ts that we had built into the trategic plan, piu ome more than we forecast in that plan. The announcement of funding is further evidence of the strength of our plan; we are well on the way to achieving it. The hard work and pain have begun to reap reward. We now have more of the tool to finish the job. Don't flinch now.

Clrristoplrer lIogwood CBE Iras joined King's as a Visiting Professor and is pictured Irere during Iris first Master Class in tire Music Department (see page 4 for tire article, 'Two distinguislred appointments in Music').

Professor Arthur Luca Acting Principal

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