All institutions are under pressure to significantly grow research income, with many in the sector planning to double or more the research funding they receive in 5 years. This will have major financial impacts on institutions, as external research funding rarely cover all the costs incurred and project shortfalls need to be met by internal funds. As core funders (RCUK, EU, NHS) have finite pots, income growth tends to be in with more marginal sponsors, with lower fEC rates. Unchecked, growing income could drain some institutions of resources. Research support can address this by adopting a series of simple measures to maximise funding of core costs (permanent staff & overheads) and minimising internal contributions. Using case studies, we will look at how projects with different types of sponsors can be costed to improve the financial benefit to an institution and how data can be clearly summerised at institutional sign off stage. We will also look at how changes during post-award affect finances, as small amendments, especially staff changes can impact on the recovery of core costs. Combined, these actions can clarify the financial impact of undertaking research, reduce the internal contributions required and make long-term research income growth sustainable.
Please note that this session is now fully booked.
|Time:||11:30 - 14:00|
|Date:||8th Jun 2016|
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