Fee negotiations are undertaken by a member of senior management or the finance department. It is important that module/programme teams provide all the information necessary for the Management Accountant to make an accurate assessment of the likely costs of the relationship: the Initial Financial Plan produced at the Partnership Approval stage is an important document in determining whether a viable partnership is possible. The Management Accountant will review the Financial Schedule before the final contract is signed off.
Provision will be made in the contract to conduct a review of review the financial arrangements to ensure the partnership remains viable, and to take account of any increases in costs. Where possible, the review will be timed so that it can be conducted through the Partnership Board or Partnership Review meeting with the partner.