2024/25 Annual Budget Exercise
MEMORANDUM
| Ref. | : | FO23-038 |
| To | : | Heads of Departments/ Units Directors of Offices/ Centres/ Institutes Deans of Faculties/ Institutes Programme Directors/ Coordinators/ Budget Controllers and All Staff Members |
| From | : | Ian Woo Director of Finance |
| Date | : | 1 December 2023 |
- In order to facilitate your planning, it is planned to finalize the 2024/25 funding allocations to departments/offices/units by May 2024, departments/offices/units are now invited to submit additional budget requests to the University Central for consideration in accordance with the timelines as set out on the next page.
- It is planned that the Deans, the Vice President and the President will hold $6 million in aggregate in their Discretionary Funds in 2024/25 for meeting the ad hoc demands of departments/offices/units, including but not limited to hiring of part-time/temporary/visiting staff.
- Budget controllers are required to follow the steps listed below before raising their additional budget requests:
- You may expect that your department/office/unit will receive the allocations indicated in my earlier memo of November 2023 but subject to minor changes, if any. You are required to consider redeploying the budget under your control to meet the funding needs of new activities and/or return the expected unspent balance to the University Central for further redeployment;
- If (a) is not possible, you may raise additional budget request to the Director of Finance who will study your request carefully and make recommendation to the relevant authorities accordingly;
- For teaching departments/centres/units, Heads should try to re-configure their staff mix to fulfill their teaching needs. Subject to budget availability and approval by the Deans, Heads are free to employ Lecturer/Senior Lecturer to meet their teaching needs. However, approval from the UAPC is still required for employing regular Tenure‐track positions/conversion from Tenure‐track positions to other positions; and
- If the shortfall in teaching hours is going to be covered by part-time/temporary/visiting staff, it should be financed by the Discretionary Funds held by the Deans.
- In order to facilitate data compilation, a reply proforma in Excel format is attached or the form can be downloaded from the FO’s intranet under the bullet point of “2024/25 Annual Budget Exercise”. You will receive formal notification of your allocations after the University budget is approved by the Council in April 2024.
- If you require any assistance in preparing your budget, please contact Mr. Norris Vong at ext. 8814 ([email protected]) or Ms. Fion Li at ext. 8031 ([email protected]).
- Last but not least, I would like to take this opportunity to thank you in advance for your contribution and co-operation in this exercise.
Schedule for the 2024/25 Annual Budget Exercise
| Fund | Parties / Action (The reply proforma in Excel format for self-financed programmes and UGC Fund are attached or can be downloaded from the FO’s intranet.) |
Latest Date to Reach FO |
|---|---|---|
|
Request for regular Tenure‐track positions/conversion from Tenure‐track positions to other positions under the UGC Fund |
Approval from the UAPC is required. The next two UAPC meetings have been scheduled for 29 January 2024 and 25 March 2024. No submission is required for Lecturer/Senior Lecturer/part-time/temporary/visiting staff request. |
n/a |
| Self-financed programmes and LIFE | Relevant Departments/Units to prepare their income and expenditure estimations for 2024/25 in light of the enrollment data and spending pattern of 2023/24. | 5 January 2024 |
|
UGC Fund |
Departments/Offices/Units to review their expenditure needs for 2024/25 and raise additional budget request or return anticipated surplus to the University central, if any. A “Nil” return is required. |
5 January 2024 |
| FO to notify Budget Controllers of the 2024/25 approved budgets. | May 2024 |