October 2005/43
Core funding/operations
Allocation of funds
This report is for information only
Recurrent grants for 2005-06
Final allocations
This document shows the final allocations of HEFCE recurrent grants for 2005-06 for the universities and colleges we fund directly. It also explains the changes made since the provisional allocations were announced in March (HEFCE 2005/13).
| 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: | 2005/43 |
| Publication date: | October 2005 |
| Enquiries to: | HEFCE higher education advisers |
Executive summary (read on-line)
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Executive summary
Purpose
1. This document gives our final allocations of recurrent funding to institutions for the academic year 2005-06.
Key points
2. We have updated a number of the allocations given in HEFCE 2005/13. The main reasons for changes are:
- Revisions to funding for additional student numbers.
- Changes to funding for widening participation.
- Transfers of student numbers and funding between institutions.
- Changes to grant resulting from data reconciliation exercises, and from corrections to other underlying data.
3. Total recurrent funding has decreased by £4,590,455 to £5,202 million. £6,768,105 has been transferred to the Higher Education Funding Council for Wales for funding of taught Open University students in Wales. The sum of other changes is therefore an increase of £2,177,650.
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 and the Learning and Skills Council 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.