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December 7th 2010 Volume 18, Issue 7


Byron Murphy News Editor

UCC management revealed to

the Express last week that the cur- rent account debt which the univer- sity is operating with has been reduced to 2.2 million euro, down from over 14 million just 3 years ago. This has been done mostly through a cost reduction plan ac- cording to the Chief Financial Of- ficer of the university. The figure is somewhat surprising, as media out- lets around the country, including last month’s Irish Times, still cite the debt figure at over 10 million. Diarmuid Collins, UCC’s Chief

Financial Officer and Bursar, stated that the debt was now at a far more manageable size. He also stated that the university has agreed with the Higher Education Authority (HEA) that the position will be restored to balance by De-

Contents News: 1-7

Features: 8-14 Humour: 15

Santa Letters: 16-17 New Corker: 18-19 Ents: 20-25 Music: 26-29

Fashion: 30-32 Gaming: 33-34 Photos: 35-36 Sport: 37-40

cember 2012, and that university management was confident this could be achieved. When asked how the deficit was

reduced so quickly, he said; “We made significant savings on pro- curement and non-pay, we’ve made savings as a result of the pen- sions transferring to the state and the employment control frame- work which, I know, did reduce numbers of headcount staff but that has knock-on impacts on our pay- bill so we’ve also made some sav- ings there.” Mr. Collins stated that there was

a cost reduction plan in action at the university, but stressed that the biggest cuts are in “non-student re- lated” areas, such as “consultan- cies, things that are nice to have, but we’ve knocked those back sig- nificantly without trying to impact the core services that are offered.” Mr. Collins was also happy with

the improvement in the capital deficit of the university, which has not been set a deadline for balanc- ing;

“We’ve also been reducing our

capital deficit, that was in the 40’s [of millions], and it’ll be down to about twelve and a half now, which is a big reduction from where we started from.” UCC Students’ Union President Keith O’ Brien stated that he is

very pleased with the financial po- sition which the university has put itself in, but he warned that im- proving this further was very con- tingent on the figures from Budget 2011 and specifically the Core grant which the university will re- ceive. Mr. O’ Brien also stated that

some cost cutting measures which the university may pursue, such as

increasing PhD teaching hours from 50 to 150 per year, may be seen as exploiting students for labour which staff would be paid for. He also felt any potential con- ferring fee would be impractical as an income generator, especially if it would require a full time mem- ber of staff to operate. Mr. O’ Brien lastly said that if the university truly wanted to

lower costs “we need to look se- verely at the pay at the very top level in the university. I think there’s an acceptance among the top, the highest paid staff and aca- demics, that they are paid more than their counterparts overseas… it would be better off maybe taking 10,000 off of each of them, That’s just the start now, they could give more, and put that towards the teaching budget.”

University College Cork

UCC current deficit down to 2.2 million euro Christmas On Campus

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