1. This document summarises final allocations of recurrent funding for the academic year 2012‑13, subject to any further adjustments that may arise from data assurance work. Changes to figures previously announced arise primarily from adjustments to our teaching grant to reflect updated student numbers.
2. We first announced provisional allocations of grant for the year in ‘Recurrent grants and student number controls for 2012-13’ (HEFCE 2012/08). We announced updated allocations in ‘Recurrent grants for 2012-13: Adjusted allocations’ (HEFCE 2013/06), issued in March 2013. In March 2014, we published on our web-site a summary of the allocations agreed at that time, which incorporated further changes arising largely from recalculations of teaching grant using end-of-year individualised student data. This document shows, for each institution, the final allocations for 2012-13, and summarises the reasons for changes since the allocations announced in 2013.
3. The main reasons for changes are the use in our teaching funding allocations of updated student data for 2012-13, recalculated grant rates for old-regime students derived from updated 2011-12 student data, and a revised scaling factor. Changes to teaching and research grants also arise from the outcomes of data audit and reconciliation exercises.
4. Changes to teaching grant reflect our three-stage recalculation process. This enables us to announce funding in advance of the academic year, before student numbers are known, but ensures that allocations eventually reflect the actual student numbers at each institution in the year. This is necessary so that grants to institutions are adjusted in line with the changing balance of their student numbers between those who entered before, and those who entered on or after, the change to the regulated fee regime on 1 September 2012. Institutions receive higher rates of HEFCE grant for the former than for the latter.
5. Some allocations of teaching grant are not subject to this three-stage recalculation process, because they are based on student numbers for earlier years, or are fixed allocations per institution. They, and the recurrent grants for research and knowledge exchange, have not been recalculated, except in a small number of cases to reflect the outcomes of data audit and reconciliation.
6. The total recurrent grant announced in this publication is £4,929 million, a reduction of 0.2 per cent compared with the total announced in October 2013. This is almost entirely attributable to changes to teaching grants.
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