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FSR record 2014/15

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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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