Data intelligence

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.

The 2016/17 HESA Finance record for the following HE provider is based on the providers' draft consolidated financial statement:

The University of Greenwich

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

In 2016/17, Cardiff Metropolitan University omitted severance payment data from Table 13 of the Finance record.  The correct figures are as follows:

3 Aggregate of compensation paid for loss of office to staff earning in excess of £100,000 per annum (Excludes head of provider)
3a Loss of office at the provider

• i Total amount of compensation paid across the whole provider - £778k
• ii Number of people to whom this was payable - 3

For the academic years 2016/17 – 2021/22 some inconsistencies are apparent among non-English HE providers in the total staff costs displayed in Table 12 of the open data when comparing against staff costs reported in Table 1. These discrepancies relate to differences in the way that HE providers have reported staff costs in both tables – in some cases excluding non-academic staff costs, and in some cases including pension adjusted costs. Staff costs in Table 1 are validated against providers’ published accounts.

In 2016/17, 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 £49,475k
• 2 Total academic services: Total expenditure £21,956k
• 3 Administration and central services
  
  • 3a Central administration and services: Total expenditure £8,555k
  • 3biii Other general expenditure: Total expenditure £804k

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

In 2016/17, Manchester Metropolitan 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 domiciled students
    • 1ai Full-time undergraduate - Source of fees Other = £5,292K
  • 2 Non-credit bearing course fees - Total £2,543K