A Funds Management Centre is a financial organisational structure which provides a consolidated overview of one or more "funds" Within each department there will typically be several FMC's An FMC can contain many funds, each of which may correspond to an existing financial entity in our present system So an academic department might have an FMC containing funds linked to spending Committees, such as the Staffing Committee, Departmental Grants Committee, Equipment Committee, and so on Individual staff members who are recipients of research funding will also have their own FMCs with each fund within these linked to a specific source of funding, such as the FRD, and the project for which the funds were awarded