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Report of the Council on the financial position of the Chest, recommending allocations for 2004-05: Notice

21 June 2004

The Council have considered the remarks made at the Discussion of this Report on 8 June 2004 (Reporter, p. 857). They agree with Dr D. M. Thompson that in any savings exercise the academic implications of any decisions must be carefully considered, but point out that such an exercise does not necessarily mean removal of posts; for example, surrender of space surplus to capacity and consequential reduction of running costs may also be appropriate. They also agree with Dr Thompson that imaginative ways to raise funds are necessary. His example of seeking extra benefactions to support existing Professorships is one that the Council have already identified.

The Council have noted Professor G. R. Evans's remarks but wish only to comment on her references to fees for overseas students and to funding for minority subjects. With regard to the increase in fees for overseas students, the Council, in their Notice of 10 March 2003 (Reporter, 2002-03, p. 695), pointed out that the fees for such students at Cambridge were typically about 5% lower than for other Russell Group universities. They recommended an additional increase of 2% above inflation for three years and this recommendation was approved by Grace 1 of 12 March 2003. The second year increase was approved by Grace 1 of 17 March 2004. With regard to the review of the funding of minority subjects, the paragraph Professor Evans referred to was in a section explaining the HEFCE grant. It is HEFCE that is instituting a review of its funding for minority subjects, not the University.

The Council are submitting a Grace to the Regent House (Grace 3, p. 900) for the approval of the recommendations in the Report.

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Cambridge University Reporter 30 June 2004
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