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Budgets and Forecasts Procedure

PURPOSE: To set financial targets for income, operating expenses (opex), staffing costs (pays), and capital expenditure (capex) for all budget units (cost centres) for the following financial year.

To agree EFTS provision per course/programme within the Institute’s EFTS cap and category allocations.

To provide a forecast of NMIT’s expected full year EFTS and financial results for the current financial year.