TRAC Development Group
The TRAC Development Group is actively guiding the further development and implementation of the costing methodology - the Transparent Approach to Costing (TRAC) - that higher education institutions in the UK use for costing their activities.
Latest activity
- Management information portfolio
More than 30 higher educations institutions were involved in a UK-wide project on increasing the use of accessible management information. - TRAC practitioners' conference
The aim of the conference was to update TRAC managers and other institutional staff on current and future developments affecting TRAC and to provide an opportunity for sharing knowledge and experiences. Presentation slides and information from the conference are available. - Key messages about TRAC
These notes are intended to help those who are knowledgeable about TRAC when speaking at conferences, visits, events, committee meetings.
Role
The main role of the group is to embed the TRAC methodology throughout the UK higher education (HE) sector, by ensuring that it meets both institutions' and funders' needs.
In outline, the group aims to:
- understand the requirements of institutions and funders in their use of TRAC
- take ownership of the TRAC guidance, and develop support to institutions
- work with the Financial Sustainability Strategy Group (FSSG) to ensure ownership of the TRAC principles within the UK HE sector, and with its funders.
The group works with a range of organisations but in particular aims to serve the interests of TRAC practitioners, policy and strategic managers at institutions, and funding organisations. Professor Stuart Palmer chairs the group.
TRAC Development Group membership
[ Download TRAC Development Group membership as Adobe PDF 39K | Download TRAC Development Group membership as MS Word 58K ]
TRAC Development Group terms of reference and objectives
[ Download TRAC Development Group terms of reference and objectives as Adobe PDF 11K | Download TRAC Development Group terms of reference and objectives as MS Word 47K ]
Report on TRAC and needs of HE
With the FSSG, the TRAC Development Group has published a report on the financial management information needs of HE, and the role of TRAC.
The report looks at:
- the need for financial management information
- what TRAC is
- what it does for institutions
- the sustainability of institutions and activities
- what TRAC does for public funders of HE
- the confidence institutions can have in the data they are producing
- how TRAC is managed.
Policy overview of the financial management information needs of higher education, and the role of TRAC
[ Download Policy overview as Adobe PDF 421K | Download Policy overview as MS Word 34K]
Work with the Financial Sustainability Strategy Group
The TRAC Development Group works with the FSSG to address many of the key issues about sustainability, future funding, and stakeholder confidence in the sector. Between them, the two groups also oversee TRAC and other financial management information to help institutions manage their funding and costs in an increasingly challenging financial context.
Further information
For more information about the TRAC Development Group and its work, please contact Heather Williams, tel 0117 931 7113, e-mail h.williams@hefce.ac.uk.
Last updated 9 June 2011