1. This document summarises final allocations of recurrent funding for the academic year 2014-15, subject to any further adjustments that may arise from data assurance work. Changes to figures previously announced arise primarily from adjustments to our teaching grant to reflect updated student numbers.
2. We first announced provisional allocations of grant for the year in ‘Recurrent grants and student number controls for 2014-15’ (HEFCE 2014/05). We announced updated allocations in ‘Recurrent grants for 2014-15: Adjusted allocations’ (HEFCE 2015/06), issued in March 2015. In May 2016, we published on our website a summary of the allocations agreed at that time, which incorporated further changes arising largely from recalculations of teaching grant using end-of-year individualised student data. This document shows, for each institution, the final allocations for 2014-15, and summarises the reasons for changes since the allocations announced in 2015.
3. The main reasons for changes since the allocations announced last year are the use in our teaching funding allocations of updated student data for 2014-15. Changes to teaching and research grants also arise from the outcomes of data audit and reconciliation exercises.
4. Changes to teaching grant reflect our three-stage recalculation process, for which 2014-15 is the final year. This process enabled us to announce funding in advance of the academic year, before student numbers were known, but has ensured that allocations eventually reflect the actual student numbers at each institution in the year. This has been necessary so that grants to institutions were adjusted in line with the changing balance of their student numbers between those who entered before, and those who entered on or after, the change to the regulated fee regime on 1 September 2012. Institutions receive higher rates of HEFCE grant for the former than for the latter.
5. Some allocations of teaching grant have not been subject to this three-stage recalculation process, because they are based on student numbers for earlier years, or are fixed allocations per institution. They, and the recurrent grants for research and knowledge exchange, have not been recalculated, except in a small number of cases to reflect the outcomes of data audit and reconciliation.
6. The total recurrent grant announced in this publication is £3,238 million, a reduction of 0.3 per cent compared with the total announced in October 2014. This is almost entirely attributable to changes to teaching grants.
7. No action is required in response to this document.