The government has confirmed that the budget for the Higher Education Funding Council for England (HEFCE) is to be slashed by £915M over three years, reports the Times Higher Education, 4th January 2010.
Paul Marshall, the Chief Executive of the 1994 Group of Smaller Research Universities, has said that these cuts would place an 'enormous burden' on the on-going review of Higher Education funding and student finances.
Sir David Watson, Professor of Higher Education at The University of London, said that the impact of this 'at a detailed level,' is that there will be even greater competition for smaller pots of funding available through HEFCE, which will impact all Universities.
Once again, the emphasis is on efficiency and savings and those organisations who can demonstrate University-wide audit ability and control of finances, student choice and student support will be better candidates for continued HEFCE support. Higher Education Institutions will be under even more pressure to deliver transparent and coherent information and to demonstrate well managed financial control.
To find out how we are working with Universities to provide solutions that can contribute to the central management of student resources, financial management and information management and transparency, contact us today on 01904 234523.
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