Recurrent grants for 2008-09: Final allocations

October 2008 | ref: 2008/40

To:

Heads of HEFCE-funded further education colleges, Heads of HEFCE-funded higher education institutions, Heads of universities in Northern Ireland

Of interest to those responsible for:

Finance; Planning

This document shows the final allocations of HEFCE recurrent grants for 2008-09 for the universities and colleges we fund directly. It also explains the changes made since the provisional allocations were announced in March (HEFCE 2008/12).

Executive summary

Purpose

1. This document gives our final allocations of recurrent funding to institutions for the academic year 2008-09.

Key points

2. We have updated a number of the allocations given in 'Recurrent grants for 2008-09' (HEFCE 2008/12). The main reasons for the 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 following data reconciliations and audit.
Changes to adjustments relating to students pursuing equivalent or lower qualifications.

Total recurrent funding has increased by £181,210,375 to £6,170,918,127 (including £112,043,150 for the fourth round of the Higher Education Innovation Fund). Total funding for very high cost and vulnerable science subjects has increased by £179,652 to £24,903,729.

3. The Financial Memorandum between the Council and institutions (HEFCE 2008/19) specifies the terms and conditions governing our grants.

4. 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.