Annual accountability returns

The letter will be posted at the end of September 2012 and sent to the institution's AMS contact. If a further copy is required, contact Amy Parslow (tel 0117 931 7466) or Christine Smith (tel 0117 931 7068). We are unable to provide group keys over the phone (due to data security policy).

Follow the instructions in the letter that we will post at the end of September 2012 . For further difficulties contact the Higher Education Policy Adviser for your institution. 

Institutions need only provide information on the questions shown in their template. The sample template in HEFCE 2012/23 includes all the possible questions. Some of these questions apply to specific initiatives, which will not be relevant to all institutions. If institutions think that there are questions missing, contact Paul Gibbens (tel 0117 931 7311).

Feedback will take the form of the risk letter updating our risk assessment of the institution and data that benchmark financial performance against the whole sector. We will also publish an outcomes document reporting on our review of the 2012 returns. See paragraphs 87 and 88 in HEFCE 2012/23.

The letter will be posted at the end of September 2012 to institutional heads of finance. If a further copy is required, contact Amy Parslow (tel  0117 931 7466) or Christine Smith (tel  0117 931 7068). We are unable to provide group keys over the phone (due to data security policy).

Follow the instructions in the letter that will be posted at the end of September 2012  Please ensure you are accessing the correct site. Links to the relevant site are available on our Annual accountability returns page.  A copy of the guidance is available in HEFCE 2012/23. In the event of further difficulties, contact Hannah Partridge (tel  0117 931 7051).

We are collecting this year’s returns via a new secure area of the HEFCE web-site. Keys for this site are 16 digits long.  Please ensure you are accessing the correct site. We will provide a link to the secure site on our Annual accountability returns page.

The letter that we will post at the end of September 2012 includes the instructions on how to upload documents. If there are still difficulties, contact Hannah Partridge (tel  0117 931 7051).

Yes. The document should be signed by all the relevant parties and then scanned as a pdf and uploaded to us via the secure area of the HEFCE web-site (see paragraph 48 in HEFCE 2012/23).

These can sometimes be taken as likely increases in HEFCE funding. We have not, therefore, provided guidance on these this year. Further guidance on Treasury's GDP deflator figures

To help us review these documents, please combine them into a single document before uploading them to the relevant link on the secure area of the HEFCE web-site. If there are still difficulties, contact Hannah Partridge (tel  0117 931 7051).

If you wish to upload a revised document for any of the links, then please contact Hannah so that your previous document can be deleted.

Feedback will take the form of the risk letter updating our risk assessment of the institution, and data that benchmark financial performance against the whole sector. In addition to the risk letter, we will publish an outcomes document reporting on our review of the 2012 returns.

As for last year’s return, part 1 should be signed by the accountable officer and part 2 signed by an appropriately authorised trustee (note part 2 is not required from institutions that are either not a charity, or are registered and make an annual return directly to the Charity Commission).

Part 1 of the Annex E is for the accountable officer to confirm that the institution has met its obligations to HEFCE under the Financial Memorandum. Part 2 is for an authorised trustee to confirm that the institution is complying with its duties as a charity and thus enables HEFCE to fulfill its duties as principal regulator.

Within the guidance issued earlier (HEFCE 2012/23) we request that all institutions must take account of the changing funding environment, their own plans regarding fee levels, and assumptions about the impact of these on demand. Paragraphs 24-29 of the guidance document provide some information about the future context for higher education. 

The financial forecasts should represent the institution’s strategic plan in financial terms. The forecasts should be based on realistic assumptions and be consistent with the accounting treatment in the financial statements.  

We recognise that this return is a snapshot at a point in time and therefore request that, if anything significant changes in your performance relative to forecast, then you should notify HEFCE through the material adverse change procedure outlined in the Financial Memorandum (HEFCE 2010/19, paragraph 18).

We are requesting the forecast information in two stages: 

• By 3 December 2012, the financial tables should be submitted containing the 2010-11 and 2011-12 figures from the most recent set of audited financial statements, together with forecasts for 2012-13. The forecasts for future years are not requested for this submission date. The 2010-11 column will be pre-filled with the data provided by your institution in the 2011 return. The figures can be overwritten with restated figures if necessary. 
  
  Due to the later submission of the forecasts, we expect HEIs to provide only a short financial commentary in December 2012 that sets out the key assumptions relating to the 2012-13 forecasts. As part of this commentary we would expect institutions to explain significant movements relating to the 2011-12 outturn and 2012-13 forecasts compared to the last submission to HEFCE (June 2012). We define a significant movement as ±10 per cent in any one year on the income and expenditure account and material changes on the balance sheet (including the detail on any material exceptional items).
   
• By 31 July 2013, the financial tables should be submitted containing updated forecasts for 2012-13 and forecasts for the period 2013-14 to 2015-16 which should present the HEI’s strategic plan in financial terms. The forecasts should be based on realistic assumptions and be consistent with the accounting treatment in the financial statements. The financial commentary about future sustainability should also be submitted at this time. 
  
  We recognise that these returns are snapshots at a point in time and therefore request that, if anything significant changes in your performance relative to budget and/or forecast, then you should notify HEFCE through the material adverse change procedure outlined in the Financial Memorandum (HEFCE 2010/19, paragraph 18). 
  
  In developing the financial forecasts, HEIs must take account of the changing funding environment, their own plans regarding fee levels, and assumptions about the impact of these on demand. Further guidance will be issued in spring next year. 
  
  Following consultation with the sector, through BUFDG, we have made the decision to continue with dual submission dates in the future in respect of the financial tables and commentary. We require that both the 2012 annual accountability returns and the submission of full financial forecasts information (up to 2015-16) by 31 July 2013 are approved by the governing body. If the change in submission dates presents timetabling difficulties for governing body approval we would expect approval to be delegated to the Chair or to the Finance Committee or equivalent and retrospective approval at the next governing body meeting. If this creates difficulties for institutions we request that they contact their HEFCE Assurance Consultant.

Following the Public Accounts Committee hearing and given the current economic environment, there is increased focus on value for money for public funds provided in the HE sector as well as for the student in respect of the fee paid.

Therefore, we are requesting submission of annual value-for-money reports and note that around half of the institutions submitted their annual value-for-money reports as part of their 2011 annual accountability return. Where you produce such an annual report for internal purposes, we will be pleased to receive a copy of this as part of your return. There is no prescribed format for this report and we are happy to accept an annual report produced for internal purposes, provided this is reviewed by the governing body (either by the board of governors or audit committee). We have published good practice on value for money activity and reporting.

If your workbook has a validation error, please check your data to make sure it has been entered correctly. If you understand your data to be correct, then please provide a brief explanation in the boxes provided at the bottom of the validation worksheet and then upload your return.

No.  Please upload each document individually to the relevant link on the secure area of the HEFCE web-site.

Yes, the new secure area of the HEFCE web-site will now accept Office 2007/2010 files.

We will post this letter at the end of September 2012 to institutional heads of finance. If a further copy is required, contact Amy Parslow (tel 0117 931 7466) or Christine Smith (tel 0117 931 7068). We are unable to provide the group key over the phone (due to data security policy).

Follow the instructions in the letter that will be posted at the end of September 2012. In the event of further difficulties, contact Megan Weaver (tel  0117 931 7273).

No. As for last year’s submission, we are asking institutions to upload their signed hard copy of the annual TRAC return to us electronically via the secure area of the HEFCE web-site. The return should be signed by the head of institution and then scanned as a pdf and uploaded to the secure area of the HEFCE web-site (see instructions in the letter that we will post at the end of September 2012. In the event of further difficulties, contact Megan Weaver (tel  0117 931 7273).

The letter that we will post at the end of September 2012 includes instructions on how to upload documents, and details on how to resolve common problems with uploads. If there are still difficulties, contact Megan Weaver (tel 0117 931 7273).

To check if your file has been processed successfully please review the messages in the section ‘History of Annual TRAC return 2011-12 submissions’.  If your return has uploaded successfully, the link ‘Results’ will become active. By clicking on this link, you can download your results package. You should review this results file to check you have passed the two validation checks which function during the upload process.

If your workbook has a validation error, please check your data to make sure it has been entered correctly. If you understand you data to be correct, then please provide an explanation in your commentary document and then upload your return.