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  • Academic department depreciation - Table 8 (2015/16)

    In 2015/16, The School of Oriental and African Studies incorrectly reported the allocation of academic department depreciation to individual academic departments within the Finance record Table 8. Academic department depreciation is less than 1% of total academic department expenditure.

    With the exception of 145 Media Studies, the effect on each academic department is not material. 

    The revised figures for 145 Media Studies are: Depreciation: £3k, Total: £381k.

    Finance
  • Capital expenditure - Table 9, 2015/16

    In 2015/16, The Royal Central School of Speech and Drama incorrectly reported some figures within the Finance record Table 9, sections 1a and 3a. The correct figures are as follows:

    • 1 Residences operations
      • 1a Buildings
        • 1 Total actual spend £0k
        • 4 Internal funds £0k
    • 3 Other operations
      • 3a Buildings
        • 1 Total actual spend £625k
        • 4 Internal funds £625k
    Finance Capital expenditure
  • Creditors - Table 3, sections 7a and 3b (2015/16)

    In 2015/16, the University of Sunderland reported a different classification within Creditors in its Annual Financial Statements and in Finance record Table 3, sections 7a and 3b. The correct figures are as follows:

    • 7 Creditors: amounts falling due after more than one year
      • 7a Bank loans and external borrowing
        • Year ended 31 July 2016 £0k
        • Year ended 31 July 2015 £0k
    • 3 Creditors: amounts falling due within one year
      • 3b Bank loans and external borrowing
        • Year ended 31 July 2016 £26,080k
        • Year ended 31 July 2015 £27,566k
    Finance
  • Finance Record (2014/15 to 2016/17)

    The Finance record is constructed each year to the Statement of Recommended Practice (SORP). A fundamental review of the Finance record was completed in 2014, with the resulting changes implemented in a new specification for the 2015/16 collection, taking into consideration the changes from the implementation of Financial Reporting Standards (FRS) 102. Financial Reporting Standards (FRS) 102 is the new financial reporting framework for higher and further education providers for reporting periods starting on or after 1 January 2015. These new standards have introduced significant changes in the way financial performance is reported, which present difficulties in comparing results from 2015/16 and 2016/17 with historical trends, and in comparing results between providers. Some transitional changes reflected in the restated 2014/15 results mean this is also an atypical year.

    Finance
  • Financial statement (2015/16)

    From 2015/16 the University Campus Suffolk has returned its own Finance data. In previous years the following is applicable:
    The Finance record for The University of East Anglia and The University of Essex include figures for income, net return, net assets and deferred capital grants for the University Campus Suffolk, which is a 50:50 joint venture between these two universities.

    The 2015/16 HESA Finance record for the following HE providers is based on the providers' draft consolidated financial statement:
    The University of Sunderland
    Heriot-Watt University
    The University of Dundee
    The University of Wales (central functions)
    The University of Winchester

    Finance
  • HESA Finance return (2015/16)

    In 2015/16, Heythrop College did not complete a HESA Finance Return.

    Estates management Finance Finances (in Estates Management Record)
  • Income data - Table 7, 2015/16

    In 2015/16, The University of Sunderland incorrectly reported some figures within the Finance record Table 7, section 4. The correct figures are as follows:

    • 4 Other income
      • 4a Other services rendered
        • 4ai BEIS Research Councils, UK central government/local authorities, health and hospital authorities, EU government bodies £1,805K
        • 4aii Other £71K
      • 4e Other grant income £3,370K
      • 4h Other operating income £3,082K
    Finance Income
  • Intangible assets (2015/16)

    In 2015/16, the University of the West of England, Bristol incorrectly reported their fixed assets as intangible assets. This has been corrected in the restated figures captured within the 2016/17 submission. This has had an impact on the sector figures for intangible assets and has resulted in a large percentage change between the years.

    2015/16 return (£ thousands)
    Fixed assets - 0
    Intangible assets - 582,474

    Restated 2016/17 return (£ thousands)
    Fixed assets - 582474
    Intangible assets - 0

    Finance
  • Non-current assets - Table 3 (2015/16)

    In 2015/16, University of the West of England, Bristol incorrectly reported some figures within the Finance record Table 3, sections 1a and 1e. The correct figures are as follows:

    • 1 Non-current assets
      • 1a Intangible assets
        • Year ended 31 July 2016 £0k
        • Year ended 31 July 2015 £0k
      • 1e Fixed assets
        • Year ended 31 July 2016 £582,474k
        • Year ended 31 July 2015 £530,499k
    Finance
  • Other income (2015/16)

    The correct figures for The University of Bolton’s Other Income from Intellectual Property rights, and Other Operating Income are £1k and £867k respectively. These figures differ to those HESA has published.

    Finance Income
  • Other income (2015/16)

    In 2015/16, The University of Birmingham misreported their Other income from intellectual property rights within Table 7. This figure should have been £453k.

    Finance Income
  • Other staff costs (2015/16)

    In 2015/16, Buckinghamshire New University reclassified costs previously in 3c 204 Staff & Student facilities "Other staff costs" to 2 201 Total Academic Services.

    Finance Expenditure
  • Research income (2015/16)

    In 2015/16, Kingston University incorrectly analysed research funding of £12,145.62 as miscellaneous income instead of research income in their year-end financial statements. This impacted the disclosures made in their 2015/16 HESA return.

     

    Finance
  • Staff costs and other operating expenses - Table 8 (2015/16)

    In 2015/16, Edinburgh Napier University misreported a number of items within Table 8 of the Finance record specifically relating to staff costs expenditure and other operating expenses. The correct figures are as follows:

    • 1at Total academic departments: Total expenditure £48,535k
    • 2 Total academic services: Total expenditure £20,926k
    • 3 Administration and central services
      • 3a Central administration and services: Total expenditure £8,851k
      • 3biii Other general expenditure: Total expenditure £758k

    The effect on academic departments was spread generally on a pro rata basis.

    Finance
  • Tuition fees and education contracts - Table 6, 2015/16

    In 2015/16, Kingston University incorrectly reported some figures within the Finance record Table 6, sections 1 and 2. The correct figures are as follows:

    • 1 HE Course fees
      • 1a Home and EU domiciled students
        • 1ai Full-time undergraduate - Source of fees DH/LETB/Scottish Health Directorate = £8,190K
        • 1ai Full-time undergraduate - Source of fees Other = £8,689K
        • 1av Part-time postgraduate taught - Source of fees Other = £3,796K
    • 2 Non-credit bearing course fees - Total £2,985K
    Finance Tuition fees