The Division - About us

The Finance Division provides advice and information on financial matters affecting all University departments, divisions and subsidiary companies. It comprises a range of financial operations including payments services, financial assurance services, financial planning and analysis, financial reporting and systems, pensions, procurement, research accounts, and treasury. As an organisation, we have a large variety of roles, ranging from administrative support roles to senior specialists. Find out what current vacancies we have.

Managing the University’s financial transactions is a shared task between the University’s departments and the central finance function. Departments carry out the majority of their transactions locally: they take procurement decisions (ie decisions on what, when and for how much to buy products and services); they may process supplier invoices (although the majority of invoices are processed centrally); and they manage most of their financial reporting and their budgets. In this sense, Oxford manages its finances in quite a decentralised manner. The overall financial figures are reported centrally in the annual Financial Statements.

The Colleges are financially autonomous and publish their own annual financial statements.

Facts and figures

The University of Oxford’s funding comes from five main sources.

  1. The largest source – £537.4m, which accounts for 40% of total income – is external research funding, from bodies such as research councils, charities, trusts, foundations, and industry. Oxford consistently has the highest external research income of any university in the UK.
  2. 15% comes from government grants through the Higher Education Funding Council for England and the National College for Teaching and Leadership. 
  3. Other income includes annual transfers from Oxford University Press, income from the commercialisation of research, and philanthropic support makes up 22% of income.
  4. Academic fees, from both undergraduates and postgraduates, makes up 22% of income.
  5. Investment income makes up 1% of income.

Oracle Financials R12

In 2013, the Finance Division upgraded its Oracle Financials to the R12 version; a major project which included the implementation of iProcurement, e-Tax and the Oracle Projects module to manage research accounts. This puts Oxford at the forefront of system development, and it is currently looking at how this platform can form the basis for further developments.

Our systems

In addition to Oracle Financials, the main accounting system, the Subsidiary Accounts team use Sage, the Payroll team uses the CoreHR personnel system and the Pensions team is looking at updating its administration systems.

Our priorities

Our priorities for this year are to embed Oracle R12 and realise further user benefits; to continue to improve management information for departments and the Finance Division; to further strengthen our controls and to improve our customer service. To achieve this we must develop a team with the right attitude, capability and motivation.

Our offices

Most colleagues in Finance are based in our large, open plan, office on Hythe Bridge Street, Oxford, in an environment which is conducive to collaborative team working. A friendly and sociable team, we are always looking to improve our processes and ways of working together so that we can deliver a better service to departments. The office is open between 8am and 6pm with some flexibility around working hours.

Healthy working

The University offers our Finance staff 24 annual leave days, plus bank holidays, plus 5 fixed holidays (at Christmas and Easter time). The Finance Division also encourages people to maintain a healthy work-life balance, for instance by organising lunch-time social clubs (book club, gardening, etc) and by providing facilities for those who would like to go running/cycling before/after work, or during their lunch break.

If you think that Finance is the right work place for you, then check our current vacancies now.