1. This document summarises changes to our allocations of recurrent funding for the academic year 2014-15, primarily arising 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 2014-15’ (HEFCE 2014/05). For teaching funding, we made initial allocations that were based on institutions’ forecast student numbers for 2014-15, but explained that these would be recalculated as we received information on the actual numbers of students in the year. This document shows, for each institution, how some of those teaching allocations have now been adjusted to reflect the updated student numbers recently reported by institutions. We will adjust grant payments between April and July 2015 accordingly, including correcting for any over- or under-payment made earlier in the academic year. These allocations will not, however, be finalised until 2016, after we receive the individualised student data for 2014-15 at the end of the academic year.
3. This three-stage recalculation process 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.
4. Some of the 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 not informed by student numbers. 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 amendments, audit and reconciliation.
5. In HEFCE 2014/05 we announced a total recurrent grant for 2014-15 of £3,300 million, including £1,582 million for teaching. These total budgets remain unchanged. The scaling factors that have applied in the teaching funding method to ensure allocations are within budget also remain unchanged.
6. No action is required in response to this document.