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HEFCE

May 2007/10
Core funding/operations
Request for information

Returns should be made by either Friday 27 July 2007 or Monday 3 December 2007


Annual monitoring and corporate planning statements, and financial forecasts 2007

This document asks higher education institutions to send us an annual monitoring statement and a corporate planning statement for 2006-07, and financial forecasts for the period up to 2010-11. Templates for the annual monitoring statement and financial forecasts will be available for completion electronically at the end of May 2007.


To: Heads of HEFCE-funded higher education institutions
Heads of universities in Northern Ireland
Of interest to those responsible for: Planning, Finance, Student data
Reference: 2007/10
Publication date: May 2007
Enquiries to: HEFCE higher education advisers (on monitoring and corporate planning statements)
HEFCE finance advisers (on financial forecasts)

Contents and executive summary (read on-line)


Download

Report and annexes (except Annex D)

[ MS Word 404K | Zipped Word 103K | Adobe PDF 566K | Zipped PDF 500K ]

Annex B (Annual monitoring statement) and Annex D (Financial forecasts 2007: Tables 1 to 6) will be available on the HEFCE extranet for completion electronically at the end of May 2007. We will write to heads of finance and our AMS contact in each institution during May, with details on how to access templates and how to return information to us.


Contents

Executive summary

Development of the CPS and AMS

Corporate planning statement

Annual monitoring statement

  • Completing the AMS template
  • Reporting on delivery and underspend
  • Audit

Financial forecasts

Returns

Annexes

  • Annex A Background on the initiatives covered by AMS monitoring
  • Annex B Sample annual monitoring statement 2007
  • Annex C Financial forecasts 2007: supporting commentary to the forecast tables
  • Annex D Financial forecasts 2007: Tables 1 to 6 (not available in web version)
  • Annex E Financial forecasts 2007: guidance notes
  • Annex F Financial forecasts 2007: funding guidance
  • Annex G Research Capability Fund

List of abbreviations

Executive summary

Purpose

1.   This document asks higher education institutions to send us a corporate planning statement (CPS) and an annual monitoring statement (AMS) for the 2006-07 academic year, and financial forecasts for the period up to 2010-11.

Key points

2.   The information requested will:

  1. Summarise the institution's mission, key objectives and targets, and performance against objectives in strategic areas.
  2. State the institution's priorities for the next operating year.
  3. State the institution's key assumptions about future trends.
  4. Provide a financial forecast for the period 2006-07 to 2010-11 in the context of the institution's financial strategy.
  5. State the student number forecasts which underpin the plans and financial forecasts.

3.   We will use this information:

  1. To identify trends across the sector, and to advise the Secretary of State for Education and Skills on the needs and development of the higher education sector.
  2. To monitor the financial prospects of higher education institutions, both individually and collectively.
  3. To monitor the use of funds and outcomes relating to our special initiative funding.
  4. As a basis for discussion with institutions about their progress in key areas, their priorities for strategic development, their financial position, and the support which HEFCE may be able to give.

4.   This document also explains the action we will take if institutions have made insufficient progress towards meeting the objectives that they set for themselves under our strategic special funding initiatives.

5.   Templates for the AMS and financial forecasts will be available for completion electronically at the end of May 2007. We will write to heads of finance and our AMS contact in each institution during May, with details on how to access templates and how to return information to us.

6.   In 2006 we ran a pilot programme with 10 institutions of a new streamlined accountability process, the 'single conversation'. Following the success of this pilot, we will be implementing the new process from 2008. Further details will be available in May. This year all institutions are being given the option of sending in their AMS, CPS and financial forecast returns either by 27 July as usual or by 3 December, which is in line with the date for returns under the new accountability process.

Action required

7.   Institutions are asked to make one submission to HEFCE by either Friday 27 July 2007 or Monday 3 December 2007. The submission should include the AMS, CPS and financial forecast returns. For further details please see paragraphs 33-36.