Meeting with management about Transforming Cardiff and the University’s finances

Cardiff UCU’s Finance Group has made an important step in the history of Cardiff UCU by presenting to the VC and others an analysis of the state of Cardiff University finances in response to the Transforming Cardiff programme endorsed by University Council. The meeting comprised representatives of Council, UEB, SU, Unite, Unison and Cardiff UCU. Members of the Finance Group led a presentation and discussion.

There was consensus that compared with English Russell Group universities of comparable size, Cardiff University has been working with a gradually increasing funding disadvantage since at least 2010, resulting from differences in HEFCW funding and now also reduced student fee income (compared with England).

There were strong disagreements about the financial implications of the university’s capital investment programme on the overall financial position of Cardiff University.  It was agreed that we would follow up on this with the university’s Chief Financial Officer.

The Finance Group is continuing to work with internal and external expertise to be able to impress on Council and UEB on why a change of strategy is urgently required to ensure the long-term financial sustainability of CU. A meeting with Welsh politicians to highlight the concerns of all the unions present regarding Cardiff’s funding disadvantage, was mooted.