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HEFCE closed at the end of March 2018. The information on this website is historical and is no longer maintained.

Many of HEFCE's functions will be continued by the Office for Students, the new regulator of higher education in England, and Research England, the new council within UK Research and Innovation.

The HEFCE domain - www.hefce.ac.uk - will continue to function until September 2018. At this point we will close the site entirely and all its information will only be available from the National Web Archive.

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Contents

  • Foreword
  • Model Financial Memorandum between HEFCE and institutions
    • Purpose of this document
    • Our responsibilities to institutions
    • Institutions' responsibilities to HEFCE
    • Financial management and sustainability
    • Other requirements on institutions
    • Accountability and risk assessment
    • Revisions to the Financial Memorandum
  • Annex A Mandatory requirements of the Financial Memorandum and Audit Code of Practice 13
  • Annex B Audit Code of Practice
  • Annex C Allocating and paying funds
  • Annex D Institutional engagement and support strategy
  • Annex E Model annual assurance return from institutions
  • Annex F Consent for financial commitments
  • Annex G Exchequer interests
  • Annex H Information requirements for HEIs that are exempt charities
  • Annex I Summary of responsibilities of members of governing bodies
  • Annex J Model letters of appointment for new head of institution and the accountable officer
  • Annex K Model letter of appointment for new chair of a governing body
  • Definitions and abbreviations

Date: 1 July 2010

Ref: HEFCE 2010/19

To: Heads of HEFCE-funded higher education institutions