16 February 2004

To	Heads of HEFCE-funded higher education institutions Heads of universities in Northern Ireland

Direct Line	0117 931 7300
Direct Fax	0117 931 7203

Circular letter number 03/2004

For further information, contact your HEFCE finance adviser, or contact Huiling Wu, tel 0117 931 7429, e-mail h.wu@hefce.ac.uk

Dear Vice-Chancellor or Principal

2004 Mid-year financial return

1. This letter asks institutions to update their forecasts for the financial year 2003-04, originally submitted to us in July 2003, and to provide details of net liquidity and guarantees to third parties. A commentary on any material variances is also requested.

2. This information helps us to monitor the financial health of institutions and their compliance with the requirements of the Financial Memorandum. To reduce the burden on institutions, the return no longer asks for information on discretionary reserves.

3. The guidance on completing and submitting the return is being sent separately to the institution's director of finance.

4. The return should be approved and signed by the head of institution, as the Designated Officer. A signed hard copy of the commentary should be sent to the institution's HEFCE finance adviser. The annexes should be submitted electronically via the HEFCE extranet. Both sets of information should reach HEFCE by Friday 19 March 2004.

Yours sincerely

Howard Newby
Chief Executive

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