Throughout the year, our budgets can feel stretched. Finding opportunities to leverage your budget can create savings to support research and learning. In this issue, Lorna Marshall, Director of Finance at Animal Care Services (ACS), shares her experience of how a little ingenuity from within the department resulted in cost savings and allowed the department to offset costs otherwise charged to researchers.
“Many of our cost-saving initiatives are not top-down, they were suggested from front-line staff and managers,” says Lorna. “ACS staff are encouraged to suggest ways to save costs and streamline procedures so that we can pass on savings to researchers.”
Some recent examples include:
- Consolidating procurement to gain discounts and reduce freight costs, such as grouped shipments.
- Breaking down silos between units to share staff and reduce the need for overtime.
- Ongoing comparison of options for the best-cost alternative. For example, when ACS upgraded their eSirius computer system, they opted to purchase tablets rather than expensive hand-held scanners to collect animal census information.
- Creating an equipment inventory for ACS-operated buildings which allowed, among other outcomes, to move underutilized equipment between facilities.
If you’re interested in learning more about any of these topics, contact Lorna Marshall.
Consider how you can work with your department in other innovative ways to stretch your budget. If you have cost-saving tips, let us know and we’ll feature them in an upcoming newsletter.