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Finance record 2016/17 (C16031): Annual review

Finance record 2016/17 (C16031): Notification of changes

This notification summarises the changes to the Finance record for 2016/17. This has come as a result of consultation with BUFDG and HESA’s statutory customers following a review of the 2015/16 Finance return. Updated guidance for the coming return will be available upon the first issue of the coding manual due soon.

Changes to the Finance template

  1. For Tables 1, 2, 3, 4 and 10 on the Finance template HESA will prepopulate the data returned by each provider in 2015/16.  Providers will be able to reinstate figures from last year and override the figures returned.  The prepopulated templates will be available from the data collection system when the system opens in September.
  2. Table 1 on the Finance template has been amended to allow providers to input directly without having to input values into Table 7 and 8 first of all. Validation will be in place to ensure consistency between figures returned in Tables 1, 7 and 8.
  3. Table 1 - an additional 'Other comprehensive income' line has been added to allow providers to return other comprehensive income as well as a free text box to add comments.
  4. Table 1 - the heading “Head 13 - hedging financial instrument(s)” has been updated to include the return of 'plus foreign currency translation'.
  5. Table 1 Head 1f –  Total income before donations and endowments, this has been removed as it is no longer required under the SORP.
  6. Table 3 - Analysis sheet - Scotland - two additional lines have been added to allow deferred grants to be returned under heading Investments and Cash and Cash equivalents. In addition, Scottish providers can now return Interest rate hedges (SWAPs) under Creditors amounts falling due within and after one year headings.
  7. Table 4 - Head 3c validation has been amended to allow providers to return a positive figure.
  8. Table 4 - Head 6 'Other' line has been added under Cash flows from financing activities.  There is also a free entry text box for providers to enter their reasons for returning this.
  9. Table 5 - Head 6 Balance of Research related deferred capital/revenue grants has been removed from the template as this was only required for C15031.
  10. Table 6 - Tuition Fees (for Wales only) HE providers in Wales are required to split tuition fees between Wales domicile, EU domicile and Rest of UK domicile students, these are split between new regime and old regime students.
  11. Table 6 - Tuition Fees (for England only) a separate heading has been introduced for 2016/17 for the collection of fee income from EU domicile students. Please note this figure will be a single figure in the same way as is collected for non-EU domicile students.
  12. Table 6 WEDS has been added to Column source of fee for Welsh providers.
  13. Table 8 Head 3bi references to Postgraduate Support Scheme have been removed from the header on the template and from the guidance. 

Change to Key Financial Indicator (KFI)

  1. KFI.7 Ratio of current assets to current liabilities ratio is currently rounded to 1 but this has been amended to one decimal place in order for it to be more meaningful.
  2. KFI.10 General funds as a % of Total income (Scotland requested) has been removed for 2016/17 at the request of the SFC.