Revisions to the financial memorandum

6 May 2014 02:42 PM

An analysis of the responses to HEFCE’s recent consultation on our financial memorandum with institutions has been published.

‘Analysis of responses to consultation on HEFCE’s financial memorandum with institutions’ (HEFCE 2014/09) follows last year’s ‘Financial memorandum: conditions of grant payments to institutions: Consultation on arrangements for 2014-15 onwards’ (HEFCE 2013/21). The 98 responses we received broadly supported the proposals in the consultation document.

The revised financial memorandum (to be known from 2014-15 onwards as the ‘Memorandum of assurance and accountability’) will outline amended arrangements for financial commitments, in terms of threshold criteria and the return of information. The requirement for institutions to subscribe to Jisc for the three years from 2014-15 to 2016-17 is confirmed.

The new Memorandum of assurance and accountability is expected to be published in June, and will come into force from 1 August 2014.