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7 May 2008 HEFCE logo
To  Heads of HEFCE-funded higher education institutions
Heads of universities in Northern Ireland
Telephone 0117 931 7317
Facsimile 0117 931 7203

Circular letter number 10/2008

For further information contact Heather Williams, tel 0117 931 7113, e-mail h.williams@hefce.ac.uk

Dear Vice-Chancellor or Principal

TRAC Strategy Group

1.   The attached letter from Professor Smith reports on the work of the Transparent Approach to Costing (TRAC) Strategy Group and raises important issues for all higher education institutions.

2.   In early 2007 we established the TRAC Strategy Group, chaired by Professor Steve Smith, Vice-Chancellor, University of Exeter. The group is leading this important area of work to support the higher education sector in its use of TRAC as part of its strategic financial management information, and in helping ensure that the use of TRAC in informing forthcoming funding reviews is robust and the data compelling. These forthcoming reviews include the review of fees, the Comprehensive Spending Review in 2009, and the Research Councils UK review of the full economic costs for funding of research.

3.   I would draw your attention to the invitation for members to serve on the new group that will support the TRAC Strategy Group and take responsibility for overseeing the development and implementation of TRAC in institutions and its use by stakeholders. Further information is on the HEFCE web-site.

4.   I strongly urge you to discuss these issues with your senior management team.

Yours sincerely

Professor David Eastwood
Chief Executive

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