Annual operating statements and financial forecasts 2001

To:	Heads of HEFCE-funded higher education institutions Heads of universities in Northern Ireland
Of interest to those responsible for:	Planning, Finance, Student data, Staff data
Reference:	01/23
Publication date:	April 2001
Enquiries to:	Higher education advisers (on operating statements) Finance advisers (on financial forecasts)

Executive summary (read on-line)

Download

Executive summary and main text
[ MS Word 115K | Zipped Word 45K | Adobe PDF 58K | Zipped PDF 47K ]

Annex A - Template for 2001 annual operating statement
[ MS Word 40K | Zipped Word 7K | Adobe PDF 13K | Zipped PDF 10K ]

Annexes B D E - Financial forecasts 2001
Annex B - statement of financial strategy and supporting notes to the forecast tables
Annex D - guidance notes
Annex E - funding guidance
[ MS Word 130K | Zipped Word 27K | Adobe PDF 102K | Zipped PDF 74K ]

Annex C - Financial forecasts 2001 Tables 1 to 7
These tables are not included in the web version of this document

Annex F - Issues arising from HEFCE Audit Service visits to explore the annual operating statement process
[ MS Word 23K | Zipped Word 7K | Adobe PDF 16K | Zipped PDF 13K ]

Executive summary

Purpose

1. This document asks higher education institutions to send an annual operating statement for the 2000-01 academic year and financial forecasts for the period up to 2004-05.

Key points

2. The information requested will:

Summarise the institution's mission, key objectives and targets, and performance against objectives in strategic areas.
State the institution's priorities for the next operating year.
State the institution's key assumptions about future trends.
Provide a financial forecast for the period 2000-01 to 2004-05 in the context of the institution's financial strategy.
State the student number forecasts which underpin the plans and financial forecasts.

3. We will use this information:

To identify trends across the sector, and so advise the Secretary of State for Education and Employment on the needs and development of the higher education sector.
To monitor the financial prospects of HE institutions, both individually and collectively.
To monitor the use of funds and outcomes relating to our strategic special funding.
As a basis for discussion with institutions about their progress in key areas, their priorities for strategic development, their financial position, and the support which the HEFCE may be able to give.

4. This report also explains the action we will take in cases where institutions have made insufficient progress towards meeting the objectives that they set for themselves under our strategic special funding initiatives.

5. Please note that disks will be sent to Heads of Finance during May 2001.

Action required

6. The information required is listed in paragraph 19 (for annual reporting statements) and paragraph 48 (for financial forecasts). Institutions should send returns, and the completed disk containing their financial forecasts, to Alison Felton by Friday 27 July 2001, at:

Institutions and Projects Directorate
Higher Education Funding Council for England
Northavon House
Coldharbour Lane
BRISTOL
BS16 1QD

7. Institutions for which the Teacher Training Agency has lead accounting officer responsibility, and those which offer initial teaching training, should also make returns to the Teaching Training Agency by 27 July 2001 (see paragraph 51).