The annual Planning Round is an established process through which Institutions monitor progress towards strategic objectives and review the resources required to deliver them. The output of this process is shared with the central bodies and scrutinised during a series of planning meetings. Updated financial forecasts are consolidated enabling a University-wide view of income and expenditure, which informs the annual Report to the University on the state of the University’s finances (the Budget Report). As well as setting the budget for the coming year, the Budget Report also provides a view of the projected finances for the planning period, covering four years in total.