£31 million of funding agreed for strategic University projects
(15 February 2018)
Over £31 million of University endowment funding is to be invested in a range of initiatives which will deliver real benefits to our students, staff and the wider public.
Fourteen projects will receive the money over the next five years. One of the most significant of these is Creative Manchester - a major initiative from the Faculty of Humanities - aimed at improving research and teaching and learning; a programme of summer internships; increased funding for scholarships and improvements to facilities across the University.
Creative Manchester will bring together areas across the Faculty to promote substantial gains in research capability, innovative changes to the curriculum and a dynamic presence in the cultural sector. Funding will be used to support new academic posts which will deliver an ambitious research agenda, as well as teaching the very best students with the brightest talent. There will be new courses and facilities including a state-of-the-art Digital Humanities Text Lab. A key feature of this investment will be developing collaborative partnerships to support the growth of the creative sector locally, nationally and internationally.
There will be more information about Creative Manchester in next week’s eNews.
In a separate project, there will be major investment in updating 24 teaching rooms within the Simon Building, Mansfield Cooper Building, Crawford House and the Ellen Wilkinson Building, and installing Bring Your Own Device technology in 250 teaching rooms and meeting spaces across campus.
Work has been ongoing, in consultation with the Charity Commission, to maximise the effectiveness and efficiency of the University’s endowments and to make it easier for the Board of Governors, as trustees, to see how this money was being spent.
As a result, these endowment funds can now be released to invest in new activities which reflect either the original intention of the donor or meet the core strategic goals of the University. Previously, many endowments remained unused for long periods of time, often in breach of their original purpose.
Endowments cannot be used to fund ongoing or existing University activities and each part of the University was encouraged to submit proposals which underwent a rigorous internal review process before being agreed by Finance Sub-Committee.
- You can find out more about the endowment fund on StaffNet.