During the half century of the AUA's existence UK universities have experienced the fastest rate of growth and most far-reaching changes in their history. Funding arrangements in particular have changed radically. Since 1961 the finance office has been transformed from a small group of bean counters into a key management group at the heart of all universities. Fifty years ago it was a dead end for anyone who aspired to the most senior management positions; now financial expertise is one of the main highways to top management. In 1960 the profile of the UK university system had not radically changed for fifty years despite two world wars. In this article, the author talks about higher education funding and financial management from 1961 to 2011.