Embedding TRAC/fEC

HEFCE and the British Universities Finance Directors' Group (BUFDG) worked together in 2007-08 to develop a project to extend good practice in the use of Transparent Approach to Costing (TRAC) and fEC (Full economic costing). The project had three aims:

• to accelerate the embedding of TRAC methodology at strategic and planning levels within HEIs
• to improve and extend the use of activity-based costing to all activities within institutions
• to equip key staff within the sector with appropriate information and skills so that the development of the methodology becomes self-sustaining within the sector.

The aims of this project are now being taken forward by the TRAC Development Group's programme of work.

Total funding : £164,113