ERIC Number: ED453711
Record Type: Non-Journal
Publication Date: 2000-Jun
Reference Count: N/A
Model Financial Memorandum between the HEFCE and Institutions. Report.
Higher Education Funding Council for England, Bristol.
This sample memorandum sets out the terms and conditions for the payment by the Higher Education Funding Council for England (HEFCE) of funds to the governing body of an institution out of funds made available by the Secretary of State for Education and Employment. Part 1 of the memorandum sets out the terms and conditions that apply in common to institutions that receive HEFCE funds. Part 2, the schedule, gives conditions specific to the designated institution, a schedule of funds available in the academic year, and the educational provision the institution has agreed to make in return for those funds. Appendix 1 contains a chart of outlining the process for disposal of an Exchequer funded asset, and Appendix 2 discusses the conditions in which HEFCE approval is required for disposal of an asset. Appendix 3 describes decision making that is delegated to the institution by the HEFCE, and Appendix 4 clarifies the calculation of annualized costs of servicing. Appendix 5 shows the scope of the memorandum and outlines the paragraphs that apply to the institutions. (SLD)
Descriptors: Colleges, Contracts, Educational Finance, Financial Support, Foreign Countries, Postsecondary Education, Resource Allocation
Higher Education Funding Council for England, Northavon House, Coldharbour Lane, Bristol BS16 1QD. Tel: 0117-931-7100; Fax: 0117-931-7317; Web site: http://www.hefce.ac.uk.
Publication Type: Guides - Non-Classroom
Education Level: N/A
Audience: Administrators; Practitioners
Authoring Institution: Higher Education Funding Council for England, Bristol.
Identifiers - Location: United Kingdom (England)