February 2003/07
|
| To: | Heads of HEFCE-funded higher education institutions Heads of universities in Northern Ireland |
| Of interest to those responsible for: | Finance |
| Reference: | 2003/07 |
| Publication date: | February 2003 |
| Enquiries to: | HEFCE finance advisers, or contact Richard Buist on 0117 931 7377, r.buist@hefce.ac.uk |
Executive summary (read on-line)
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Report
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Annexes A-E
(Disks for completion are being sent to directors of finance)
[ MS Excel 58K | Zipped Excel 15K ]
Executive summary
Purpose
1. This document asks institutions to update their forecasts for the financial year 2002-03, originally submitted to us in July 2002, and to provide details of net liquidity and guarantees to third parties. Commentaries are also requested.
2. This information helps us to monitor the financial health of institutions and their compliance with the requirements of the Financial Memorandum.
Key points
3. Please note that the return has a new format. We are requesting the same information as in previous years but have changed the tables to clarify the information we require and simplify completion.
4. In Annexes A, B and C, the figures for the 2002 forecasts are taken from the 2002 financial forecast return submitted to HEFCE in July 2002. Institutions are asked to explain any significant variances in income and expenditure, discretionary reserves and net liquidity compared with the July 2002 forecasts.
5. Copies of this document and disks containing tables for completion will be sent separately to institutions' directors of finance.
6. The name and contact details of the institution's HEFCE finance adviser is given at the beginning of Annex A on the disk.
Action required
7. Institutions are asked to send an electronic version of the tables and commentary via e-mail to financereturns@hefce.ac.uk with the institution's name as the subject of the e-mail, and a hard copy, signed by the institution's designated officer, to the institution's HEFCE finance adviser. Both sets should reach HEFCE by Friday 21 March 2003.