# FSR record 2014/15

## FSR record 2014/15## Key Financial Indicator (KFI) definitions |
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Version 1.0 Produced 2015-09-10

The KFIs shown are a set of calculations extracted from the FSR. They are not performance indicators and take no account of higher education provider (HEP) characteristics such as the range of subjects taught or the types of provision.

HEPs should note that for working out ratios, the following should be applied to each calculation:

- For percentage ratios, multiply by 100
- For days ratios, multiply by 365

#### 1. Total income in £000s

Income: Total income (group and share of joint venture(s))

#### 2. Percentage ratio of total funding body grants to total income

*Numerator*

Income: Funding body grants

*Denominator*

Income: Total income (group and share of joint venture(s))

#### 3. Percentage ratio of recurrent teaching grants from funding bodies to total income

*Numerator*

Funding body grants: Grants for HE provision (SFC grants for all provision): Recurrent (teaching)

*Denominator*

Income: Total income (group and share of joint venture(s))

#### 4. Percentage ratio of recurrent research grants from funding bodies to total income

*Numerator*

Funding body grants: Grants for HE provision (SFC grants for all provision): Recurrent (research)

*Denominator*

Income: Total income (group and share of joint venture(s))

#### 5. Percentage ratio of funding body recurrent (other) grants from funding bodies to total income

*Numerator*

Funding body grants: Grants for HE provision (SFC grants for all provision): Recurrent - other (including non-recurrent special funding)

*Denominator*

Income: Total income (group and share of joint venture(s))

#### 6. Percentage ratio of total funding body grants for HE provision to total income

*Numerator*

Funding body grants for HE provision are taken as

Funding body grants: Grants for HE provision (SFC grants for all provision): Recurrent (teaching)

*plus*

Funding body grants: Grants for HE provision (SFC grants for all provision): Recurrent (research)

*plus*

Funding body grants: Grants for HE provision (SFC grants for all provision): Recurrent - Other (including non-recurrent special funding)

*plus*

Funding body grants: Grants for HE provision (SFC grants for all provision): Release of deferred capital grants - buildings

*plus*

Funding body grants: Grants for HE provision (SFC grants for all provision): Release of deferred capital grants - equipment

*Denominator*

Income: Total income (group and share of joint venture(s))

#### 8. Percentage ratio of total tuition fees and education contracts to total income

*Numerator*

Income: Tuition fees and education contracts

*Denominator*

Income: Total income (group and share of joint venture(s))

#### 9. Percentage ratio of full-time Home/European Union (EU) HE student fees to total income

**Definition for England**

*Numerator*

Full-time home/European Union (EU) HE student fees are taken as

HE course fees: Providers in England only: Home and EU domicile students: Full-time undergraduate

*plus*

HE course fees: Providers in England only: Home and EU domicile students: Full-time postgraduate taught

*plus*

HE course fees: Providers in England only: Home and EU domicile students: Full-time postgraduate research

*Denominator*

Income: Total income (group and share of joint venture(s))

**Definition for Scotland**

*Numerator*

Full-time home/European Union (EU) HE student fees are taken as

HE course fees: Providers in Scotland only: Home and EU domicile students: Full-time undergraduate standard rate

*plus*

HE course fees: Providers in Scotland only: Home and EU domicile students: Full-time undergraduate rest of UK de-regulated fees

*plus*

HE course fees: Providers in Scotland only: Home and EU domicile students: Full-time undergraduate non-standard rate

*plus*

HE course fees: Providers in Scotland only: Home and EU domicile students: Full-time postgraduate taught standard rate

*plus*

HE course fees: Providers in Scotland only: Home and EU domicile students: Full-time postgraduate taught rest of UK de-regulated fees

*plus*

HE course fees: Providers in Scotland only: Home and EU domicile students: Full-time postgraduate research standard rate

*plus*

HE course fees: Providers in Scotland only: Home and EU domicile students: Full-time postgraduate taught non-standard rate

*plus*

HE course fees: Providers in Scotland only: Home and EU domicile students: Full-time postgraduate research non-standard rate

*Denominator*

Income: Total income (group and share of joint venture(s))

**Definition for Wales**

*Numerator*

Full-time home/European Union (EU) HE student fees are taken as

HE course fees: Providers in Wales only: Wales and EU domicile students: Full-time undergraduate new

*plus*

HE course fees: Providers in Wales only: Wales and EU domicile students: Full-time undergraduate continuing

*plus*

HE course fees: Providers in Wales only: Wales and EU domicile students: Full-time postgraduate taught

*plus*

HE course fees: Providers in Wales only: Wales and EU domicile students: Full-time postgraduate research

*plus*

HE course fees: Providers in Wales only: Rest of UK domicile students: Full-time undergraduate new

*plus*

HE course fees: Providers in Wales only: Rest of UK domicile students: Full-time undergraduate continuing

*plus*

HE course fees: Providers in Wales only: Rest of UK domicile students: Full-time postgraduate taught

*plus*

HE course fees: Providers in Wales only: Rest of UK domicile students: Full-time postgraduate research

*Denominator*

Income: Total income (group and share of joint venture(s))

**Definition for Northern Ireland**

*Numerator*

Full-time home/European Union (EU) HE student fees are taken as

HE course fees: Providers in Northern Ireland only: Home and EU domicile students: Full-time undergraduate standard fees

*plus*

HE course fees: Providers in Northern Ireland only: Home and EU domicile students: Full-time undergraduate rest of UK de-regulated fees

*plus*

HE course fees: Providers in Northern Ireland only: Home and EU domicile students: Full-time postgraduate taught

*plus*

HE course fees: Providers in Northern Ireland only: Home and EU domicile students: Full-time postgraduate research

*Denominator*

Income: Total income (group and share of joint venture(s))

#### 10. Percentage ratio of non-EU HE course fees to total income

*Numerator*

Non-EU HE course fees are taken as

HE course fees: All providers: Non-EU domicile students

*Denominator*

Income: Total income (group and share of joint venture(s))

#### 11. Percentage ratio of income from research grants and contracts to total income

*Numerator*

Income: Research grants and contracts

*Denominator*

Income: Total income (group and share of joint venture(s))

#### 12. Percentage ratio of BIS research council grants and contracts to total income

*Numerator*

Research grants and contracts: Total BIS Research Councils, The Royal Society, British Academy and The Royal Society of Edinburgh

*Denominator*

Income: Total income (group and share of joint venture(s))

#### 14. Percentage ratio of UK industry, commerce and public corporations research grants and contracts to total income

*Numerator*

Research grants and contracts: UK industry, commerce and public corporations

*Denominator*

Income: Total income (group and share of joint venture(s))

#### 16. Percentage ratio of EU research grants and contracts to total income

*Numerator*

EU research grants and contracts are taken as

Research grants and contracts: EU government bodies

*plus*

Research grants and contracts: EU-based charities (open competitive process)

*plus*

Research grants and contracts: EU industry, commerce and public corporations

*plus*

Research grants and contracts: EU other

*Denominator*

Income: Total income (group and share of joint venture(s))

#### 18. Percentage ratio of other income to total income

*Numerator*

Income: Other income

*Denominator*

Income: Total income (group and share of joint venture(s))

#### 19. Percentage ratio of total endowment and investment income to total income

*Numerator*

Income: Endowment and investment income

*Denominator*

Income: Total income (group and share of joint venture(s))

#### 20. Percentage ratio of contribution from research grants and contracts to research grants and contracts income

*Numerator*

Contribution from research grants and contracts is taken as

Income: Research grants and contracts

*minus*

Expenditure: Research grants and contracts: Total research grants and contracts

*Denominator*

Income: Research grants and contracts

#### 22a. Percentage ratio of historical surplus/(deficit) for the year after taxation to total income

*Numerator*

Historical cost surplus/(deficit) for the year after taxation

*Denominator*

Income: Total income (group and share of joint venture(s))

#### 22b. Percentage ratio of historical surplus/(deficit) for the year after taxation to total income (excluding pension cost adjustment)

*Numerator*

Historical surplus/(deficit) for the year after taxation (excluding pension cost adjustment) is taken as

Historical cost surplus/(deficit) for the year after taxation

*plus*

Other expenditure: Pension cost adjustment

*Denominator*

Income: Total income (group and share of joint venture(s))

#### 23. Ratio of current assets to current liabilities

*Numerator*

Current assets: Total current assets

*Denominator*

Creditors: Amounts falling due within one year: Total creditors (amounts falling due within one year)

#### 24. Ratio of liquid assets to current liabilities

*Numerator*

Liquid assets are taken as

Current assets: Investments

*plus*

Current assets: Cash at bank and in hand

*Denominator*

Creditors: Amounts falling due within one year: Total creditors (amounts falling due within one year)

#### 26a. Days ratio of net liquidity to total expenditure (excluding depreciation)

*Numerator*

Net liquidity is taken as

Current assets: Investments

*plus*

Current assets: Cash at bank and in hand

*minus*

Creditors: amounts falling due within one year: Bank overdrafts

*Denominator*

Total expenditure (excluding depreciation) is taken as

Expenditure: Total expenditure

*minus*

Expenditure: Depreciation

#### 26b. Days ratio of net liquidity to total expenditure (excluding depreciation and pension cost adjustment)

*Numerator*

Net liquidity is taken as

Current assets: Investments

*plus*

Current assets: Cash at bank and in hand

*minus*

Creditors: amounts falling due within one year: Bank overdrafts

*Denominator*

Total expenditure (excluding depreciation and pension cost adjustment) is taken as

Expenditure: Total expenditure

*minus*

Expenditure: Depreciation

*minus*

Other expenditure: Pension cost adjustment total expenditure

#### 27a. Days ratio of total general funds to total expenditure

*Numerator*

Total general funds are taken as

Endowments: Expendable

*plus*

Reserves: Income and expenditure account

*plus*

Reserves: Pension reserve

*Denominator*

Expenditure: Total expenditure

#### 27b. Days ratio of total general funds to total expenditure (excluding pension reserve and pension cost adjustment)

*Numerator*

Total general funds (excluding pension reserve) is taken as

Endowments: Expendable

*plus*

Reserves: Income and expenditure account

*Denominator*

Total expenditure (excluding pension cost adjustment) is taken as

Expenditure: Total expenditure

*minus*

Other expenditure: Pension cost adjustment total expenditure

#### 28. Days ratio of current income (excluding funding body grants for HE provision (SFC for all provision)) represented by debtors

*Numerator*

Current assets: Debtors

*Denominator*

Current income (excluding funding body grants for HE provision (SFC for all provision)) is taken as

Income: Total income (group and share of joint venture(s))

*minus*

(

Funding body grants: Grants for HE provision (SFC grants for all provision): Recurrent (teaching)

*plus*

Funding body grants: Grants for HE provision (SFC grants for all provision): Recurrent (research)

*plus*

Funding body grants: Grants for HE provision (SFC grants for all provision): Recurrent - other (including non recurrent special funding)

*plus*

Funding body grants: Grants for HE provision (SFC grants for all provision): Release of deferred capital grants - buildings

*plus*

Funding body grants: Grants for HE provision (SFC grants for all provision): Release of deferred capital grants - equipment

)

#### 29. Percentage ratio of total long-term borrowings to total income

*Numerator*

Total long-term borrowings are taken as

Creditors: amounts falling due within one year: Current portion of long-term liabilities

*plus*

Creditors: amounts falling due after more than one year: Repayable loans to funding council

*plus*

Creditors: amounts falling due after more than one year: External borrowing

*Denominator*

Income: Total income (group and share of joint venture(s))

#### 30a. Percentage ratio of total staff costs to total income

*Numerator*

Expenditure: Staff costs

*Denominator*

Income: Total income (group and share of joint venture(s))

#### 30b. Percentage ratio of total staff costs to total income (excluding pension cost adjustment)

*Numerator*

Total staff costs (excluding pension cost adjustment) is taken as

Expenditure: Staff costs

*minus*

Other expenditure: Pension cost adjustment total staff costs

*Denominator*

Income: Total income (group and share of joint venture(s))

#### 31. Percentage ratio of total net cash inflow from operating activities to total income

*Numerator*

Net cash inflow/(outflow) from operating activities

*Denominator*

Income: Total income (group and share of joint venture(s))

#### 32a. Gearing ratio

*Numerator*

Creditors: amounts falling due within one year: Current portion of long-term liabilities

*plus*

Creditors: amounts falling due after more than one year: Repayable loans to funding council

*plus*

Creditors: amounts falling due after more than one year: External borrowing

*Denominator*

Endowments: Expendable

*plus*

Reserves: Income and expenditure account

*plus*

Reserves: Pension reserve

#### 32b. Gearing ratio (excluding pension reserve)

*Numerator*

Creditors: amounts falling due within one year: Current portion of long-term liabilities

*plus*

Creditors: amounts falling due after more than one year: Repayable loans to funding council

*plus*

Creditors: amounts falling due after more than one year: External borrowing

*Denominator*

Endowments: Expendable

*plus*

Reserves: Income and expenditure account

#### 33a. Percentage ratio of premises repairs and maintenance to total expenditure

*Numerator*

Premises: Repairs and maintenance

*Denominator*

Expenditure: Total expenditure

#### 33b. Percentage ratio of premises repairs and maintenance to total expenditure (excluding pension cost adjustment)

*Numerator*

Premises: Repairs and maintenance

*Denominator*

Total expenditure (excluding pension cost adjustment) is taken as

Expenditure: Total expenditure

*minus*

Other expenditure: Pension cost adjustment

#### 34a. Days ratio of total net cash inflow to total expenditure (excluding depreciation)

*Numerator*

Total net cash inflow is taken as

Net cash inflow/(outflow) from operating activities

*plus*

Returns on investments and servicing of finance: Net cash inflow/(outflow) from returns on investments and servicing of finance

*Denominator*

Total expenditure (excluding depreciation) is taken as

Expenditure: Total expenditure

*minus*

Expenditure: Depreciation

#### 34b. Days ratio of total net cash inflow to total expenditure (excluding depreciation and pension cost adjustment)

*Numerator*

Total net cash inflow is taken as

Net cash inflow/(outflow) from operating activities

*plus*

Returns on investments and servicing of finance: Net cash inflow/(outflow) from returns on investments and servicing of finance

*Denominator*

Total expenditure (excluding depreciation and pension cost adjustment) is taken as

Expenditure: Total expenditure

*minus*

Expenditure: Depreciation

*minus*

Other expenditure: Pension cost adjustment

#### 36. Percentage ratio of interest and other finance costs to total income

*Numerator*

Expenditure: Interest and other finance costs

*Denominator*

Income: Total income (group and share of joint venture(s))

#### 37. Viability

*Numerator*

Current assets: Investments

*plus*

Current assets: Cash at bank and in hand

*Denominator*

Creditors: amounts falling due after more than one year: External borrowing

*plus*

Creditors: amounts falling due within one year: Current portion of long-term liabilities

*plus*

Creditors: amounts falling due within one year: Bank overdrafts

#### 38a. Percentage return on net assets

*Numerator*

Surplus/(deficit) for the year retained within general reserves

*minus*

Transfer from/(to) accumulated income in endowment funds

*Denominator*

Net assets excluding pension asset/(liability)

#### 38b. Percentage return on net assets (excluding pension cost adjustment)

*Numerator*

Surplus/(deficit) for the year retained within general reserves

*minus*

Transfer from/(to) accumulated income in endowment funds

*plus*

Other expenditure: Pension cost adjustment total expenditure

*Denominator*

Net assets excluding pension asset/(liability)

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