Annual Accounts 2010 - University of Abertay Dundee

University of Abertay DundeeAnnual report and financial statements31 July 2011Operating and Financial Review (continued)Investment PerformanceThe market value of listed investments held by the University has increased during the year by £912,854 at 31July 2011 from £6,391,898, including an additional £500,000 invested in June 2011.Cash FlowThe Cash Flow Statement shows that there was a net cash inflow of £333,000 during the year.Creditor Payment PolicyThe University aims to pay all invoices from creditors within 30 days of the date of the invoice, in line with theCBI prompt payment policy. During 2010/11 the University paid 82.3% of invoices within 30 days, with nopenalty interest incurred (2010:80%).Employment PolicyEqual Opportunities - The University is committed to equal opportunities both as an employer and in theprovision of education. As an employer its aim is to ensure that all employees are recruited on the basis ofability and the requirements of their posts and that they are employed and retained in a non-discriminatorymanner.Employment of Disabled Persons - The University employs disabled persons and gives full consideration toapplications for employment by disabled persons, bearing in mind the aptitudes of the applicants. It providesfacilities for disabled persons wherever possible, makes special arrangements to safeguard their health andsafety at work, and seeks to ensure that the training and development of disabled persons so far as is possible isidentical with that of other employees. In the event of existing employees becoming disabled every effort ismade to ensure that their employment with the University continues and that appropriate training is arranged.Disabled Students - The University welcomes applications from suitably qualified candidates, regardless of anyphysical or sensory disability. Students with special needs are encouraged to contact the University’s SpecialNeeds Adviser in advance of application to discuss the practical implications of studying at the University.Employee Involvement - The University uses a wide variety of means to communicate with its employees.Court and Senate papers (other than those relating to reserved areas of business) are available, and policydecisions are communicated to all concerned through the appropriate channels. Formal and informal machineryis maintained for consulting unions and staff who do not belong to a union, and opportunities exist within theSchool and Service structure for formal and informal participation. Internally, electronic media including theUniversity Intranet and an electronic newsletter are also used to facilitate communication.Charity RegistrationThe University of Abertay Dundee is a charity registered in Scotland, Charity Number SC016040, registeredaddress Bell Street, Dundee, DD11HG.Overall, the University has acted to anticipate cost and funding pressures, so as to manage change in the mostconstructive way. This has been made possible by the hard work of colleagues on the Finance, People andGeneral Purposes Committee and the professionalism of the Executive Management.Angus Macmillan Douglas OBEConvenorFinance, People & General Purposes CommitteeReferencesUniversity of Abertay Dundee Strategic Plan 2007 – 2011 and 2011 - 2015 available at:http://www.abertay.ac.uk/about/theuni/corporate/3