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.
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 11K | Download TRAC Development Group membership as MS Word 62K ]
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 ]
Programme of work
Initially the group is working with the sector and funders to identify needs and priorities in using the methodology. This involves a series of events and communications.
Key messages about TRAC (27 April 2010)
These notes are intended to help those who are knowledgeable about TRAC when speaking at conferences, visits, events, committee meetings.
[ Download Key messages about TRAC as Adobe PDF 65K | Download Key messages about TRAC as MS Word 217K ]Chair's letter on key messages about TRAC (27 April 2010)
Letter from Professor Stuart Palmer setting out the need for key messages in light of changes to TRAC.
[ Download letter from the TDG Chair on key messages about TRAC as Adobe PDF 67K | Download letter from the TDG Chair on key messages about TRAC as MS Word 225K ]Key message for TRAC in 2010
Presentation on strategic context and key messages.
[ Download TRAC in 2010: Presentation on strategic context and key messages as PowerPoint 335K ]Changes to TRAC, and invitation to participate in Management Information Projects (8 March 2010)
Letter from Professor Palmer, Chair of the group, about changes to TRAC and inviting participation in some projects that will demonstrate and improve the utility of TRAC for internal management in institutions.
[ Download Changes to TRAC, and invitation to participate in Management Information Projects as Adobe PDF 295K | Download Changes to TRAC, and invitation to participate in Management Information Projects as MS Word 146K ]
Launch letter from the group's Chair (10 July 2009)
Professor Palmer, Chair of the group, has written to the HE sector, setting out this programme of work and the role of the group in more detail.
[ Download Launch letter from the group's Chair as Adobe PDF 42K | Download Launch letter from the group's Chair as MS Word 248K ]
- Conferences for senior managers and TRAC practitioners
The group is holding two separate events, one on the strategic management of TRAC and the other on its technical aspects.
- Meetings with Chairs of TRAC self-help groups
TRAC self-help groups support the sector with TRAC. The TDG recognises that they are key means of support and has initiated a series of regular meetings with representatives of the TRAC self-help groups to ensure that good information and support is being made available to them.List of TRAC regional self-help groups and contacts
[ Download List of TRAC regional self-help groups and contacts as MS Excel 32K ]
- TRAC Development Group joint seminars with Research Councils
To develop a shared understanding of what TRAC does, and to understand any concerns that the Research Councils might have.
- Engagement with Directors of Finance and senior management teams
To help clarify the roles of Directors of Finance and senior management teams and ensure their buy-in to the methodology.
The group is carrying out a number of other tasks in the short to medium term. Among other work it is reviewing the TRAC guidance and the way it is communicated online. It is also examining the sector's support requirements around TRAC as well as looking at the implementation issues arising from the Research Councils UK’s Quality Assurance and Validation process.
The group will be working with all audiences with an interest in TRAC, and with existing HE sector groups and networks to support institutions and the delivery of the group's aims.
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 12 July 2010