Universities encouraged to make financial information more visible to students
26 Mar 2014 03:49 PM
New guidance aims to
help universities and colleges in England present information about income and
expenditure on their web-sites in a way that is transparent and accessible to
current students and the general public.
The guidance has been developed
by the British Universities Finance Directors Group (BUFDG), GuildHE, HEFCE,
NUS and Universities UK. It follows a request from the Department of Business,
Innovation and Skills to HEFCE for universities and colleges to publish
financial information more effectively.
It draws on findings from recent
research [Note 1], including a survey of 2,400 current students which found
that there is interest in this type of information but that it was often
difficult to find and understand.
The research identifies
priorities for improving the presentation of financial information such as
accessibility, clear signposting and ensuring technical language is clearly
explained, as well as keeping information up to date.
Heather Fry, HEFCE Director
(Education, Participation and Students), said:
‘It is important that
transparent information is available at the right level of detail. Students and
others are increasingly interested in the value for money of their education,
and how institutions prioritise their spending. This guidance provides the
opportunity for institutions to take a fresh look at this area and is part of a
wider programme of work being carried out by HEFCE – in partnership with
the higher education sector and other key partners – to ensure the
provision of high-quality, clear and accessible
information.’
Sarah Pook, Chair of the
Financial Information Steering Group and the University of Southampton’s
Director of Finance, said:
‘This approach gives
institutions the chance to work in partnership with their students to develop
an information format that meets local need.’
Higher education providers are
being asked to work with student representatives to implement changes to their
websites by January 2015.