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October 2002/44
Core funding/operations
Allocation of funds

This report is for information only

Recurrent grants for 2002-03

Final allocations

This document shows the final allocations of HEFCE recurrent grants for 2002-03 for the universities and colleges we fund directly. It also explains the changes made since the provisional allocations were announced in March (HEFCE 02/11).

To: Heads of HEFCE-funded higher education institutions
Heads of HEFCE-funded further education colleges
Heads of universities in Northern Ireland
Of interest to those responsible for: Finance, Planning
Reference: 2002/44
Publication date: October 2002
Enquiries to: HEFCE higher education advisers

Executive summary (read on-line)

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Report and Annex A
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Table 1    Resources for academic year 2002-03
[ MS Excel 80K | Zipped Excel 26K | Adobe PDF 72K | Zipped PDF 67K ]

Table 2    Comparison with 2001-02 academic year grant
[ MS Excel 90K | Zipped Excel 32K | Adobe PDF 71K | Zipped PDF 66K ]

Executive summary

Purpose

1.    This document gives our final allocations of recurrent funding to institutions for the academic year 2002-03.

Key points

2.    We have updated a number of the allocations given in HEFCE 02/11. The main reasons for changes are:

  1. Revisions to funding for additional student numbers.
  2. Transfers of student numbers and funding between institutions, particularly where further education colleges have chosen to be funded indirectly through a higher education institution.

3.    Total recurrent funding has increased by £4 million to £4,339 million.

4.    The financial memorandum between the Council and institutions specifies the terms and conditions governing our grants.

5.    Institutions supply data to inform funding allocations. We will continue to audit these data selectively, and will also use data from the Higher Education Statistics Agency (HESA), and the Learning and Skills Council (LSC) to verify them. If we find that the data were inaccurate, so that institutions have received higher allocations than they should have done, we will reduce their funding.

Action required

6.    No action is required.