The agreements are accompanied by grant tables unique to each institution, which incorporate changes since the provisional announcement of grant in March. These changes include an efficiency saving of £65 million, following notification by the then Secretary of State for Innovation, Universities and Skills in May that higher education would be required to deliver efficiency savings of £180 million as part of the additional efficiencies required in 2010-11 set out in the 2008 Pre-Budget Report.
This saving has been applied pro-rata to all elements of recurrent teaching grant, after incorporating other changes to the allocations since March, and serves to reduce total teaching funding by 1.36 per cent.
The need to deliver efficiency savings means that the agreements also include a revision to the threshold at which HEFCE provides moderation funding. Moderation will now be provided so that no institution sees a reduction in cash terms of more than 0.6 per cent compared with the equivalent, unmoderated figure for 2008-09, but HEFCE will not provide moderation funding if it amounts to less than £100,000.
The July funding agreements include several other changes. The most common of these are transfers between institutions, changes to funding for widening participation, and teaching enhancement and student success, and the finalisation of additional student number allocations.