fEC Task Group Established

A task group is to be created in response to the recommendations of the review into Full Economic Costing (fEC). The membership and terms of reference have been announced today, Thursday 19th November.

The task group, established by Research Councils UK (RCUK) and Universities UK (UUK), has been asked to make practical proposals on the implementation of specific recommendations within the fEC Review report.

The task group will liaise with the Financial Sustainability Strategy Group and the TRAC Development Group in formulating its recommendations.

Professor Sir William Wakeham, Chair of the group, commented: “An excellent, robust and sustainable research base in the university sector is vital to the future prosperity of the UK. The role of the group is to help ensure the effective deployment of the funds provided for the full economic costs of research as well as assuring all stakeholders of that deployment. It should prove an interesting and challenging task that I am keen to begin”

Membership of the group includes:

• Mrs Gill Ball, Director of Finance, University of Birmingham
• Mr Simon Denegri, Chief Executive, Association of Medical Research Charities
• Mr Steve Egan, Director (Finance and Corporate Resources) and Deputy Chief Executive, HEFCE
• Mr Peter Hazell, Chairman, Argent Group and member of NERC Council
• Mr Roger Louth, Deputy Director - Head of Policy and Resources, Science and Research Group, Department of Business, Innovation and Skills
• Dr Malcolm Skingle, Director, Academic Liaison, Worldwide Business Development, GlaxoSmithKline
• Professor Andy Walker, Vice-Principal, Heriot-Watt University
• Mr Stuart Ward, Director Corporate Services, EPSRC

The group is expected to report its proposals by the end of April 2010.

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For further information

Contact:
Chloë Somers
RCUK Press Officer
Tel: 01793 444592

Notes for editors

1. The RCUK/UUK review of fEC can be found at: http://www.rcuk.ac.uk/Publications/archive/Pages/vfmpeer.aspx
2. The terms of reference for the Group are:
   
   
   • Developing proposals that will enhance and incentivise the optimal and effective use of resources provided through fEC within higher education institutions, paying particular attention to the role that greater transparency in charge out rates could play.
   • Advising on the practical provision of information to demonstrate how fEC funding is being used and how it contributes to the financial suitability of the whole sector in order to provide reassurance to government and research funders.

   In undertaking its review, the Task Group should be mindful that any additional activities it recommends are commensurate with the benefits.

3. About Research Councils UK

   Research Councils UK is the strategic partnership of the UK's seven Research Councils. We invest annually around £3 billion in research. Our focus is on excellence with impact. We nurture the highest quality research, as judged by international peer review providing the UK with a competitive advantage. Global research requires we sustain a diversity of funding approaches, fostering international collaborations, and providing access to the best facilities and infrastructure, and locating skilled researchers in stimulating environments. Our research achieves impact – the demonstrable contribution to society and the economy made by knowledge and skilled people. To deliver impact, researchers and businesses need to engage and collaborate with the public, business, government and the third sector. www.rcuk.ac.uk

   The seven UK Research Councils are:

   • Arts & Humanities Research Council (AHRC);
   • Biotechnology & Biological Sciences Research Council (BBSRC);
   • Economic & Social Research Council (ESRC);
   • Engineering & Physical Sciences Research Council (EPSRC);
   • Medical Research Council (MRC);
   • Natural Environment Research Council (NERC);
   • Science & Technology Facilities Council (STFC).