HEFCE recently introduced a mandatory requirement for every institution to provide an annual value for money report. For 2016 the form and content of reports was left to each institution's discretion. HEFCE expect to set out additional formal value for money requirements that include, for the first time, the specific scope and content that must be included in annual value for money reports.
Earlier thus year Uniac hosted two events in London and Manchester, with representatives from HEFCE, BUFDG, UniversitiesUK and value for money experts from around the sector. Attendees explored what value for money means from student; executive; governing body; HEFCE and government perspectives. The discussions were fascinating and will feed into the more formal guidance that will follow from HEFCE (or OfS) in due course. In the meantime, if you would like a summary of the discussion, please contact us.