To help in our work on a new funding method for teaching from 2013-14, HEFCE commissioned JM Consulting to carry out a review to establish whether the sector-wide Transparent Approach to Costing (TRAC) teaching and research data for the highest-cost subjects could be relied upon to inform a future funding method. TRAC for teaching is just one piece of information HEFCE would take into account in developing such a method.
This report presents the findings of the review, based on 16 case study examples at a mix of medical schools, dental schools and veterinary science schools.
The review finds that TRAC is fit for purpose, but also identifies challenges and lessons from institutional practice and makes a number of recommendations concerning TRAC implementation in the future. These are outlined in the executive summary.