University sustainability

Mandatory requirements

The Financial Memoranda make reference to further documents which set out detailed mandatory requirements.  

Statement of Recommended Practice for Further and Higher Education (SORP)

Financial forecasts

• Call for Information - HE Strategic Plan Forecast 2022-23 to 2024-25
• Call for Information - HE Institutions Financial Forecast Update (FFU) 2022-23
• Call for Information - HE Strategic plan forecast 2021-22 to 2023-24
• Call for Information - University financial forecast update return 2021-22
• Call for Information - Strategic plan forecast for HEIs 2020-21 to 2022-23

Institutional Efficiency

Examples of institutional efficiencies [PDF] from previous returns.

Financial statements

2021-22

• Call for Information: University Financial Statements 2021-22

2020-21

• University Consolidated Accounts 2020-21 [XLS]
• Call for Information: University Financial Statements and Supporting Documents 2020-21

2019-20

• University Consolidated Accounts 2019-20 [XLS]
• University financial statements and supporting documents 2019-20
• Deadlines for 2019-20 annual report & accounts & TRAC return

2018-19

• Analysis of the 2018-19 Annual Accounts of Scotland’s Colleges and Universities
• University financial statements and returns 2018-19
• University Consolidated Accounts 2018-19 [XLS]

2017-18

• Summary financial position of the university sector 2017-18 [PDF]
• University financial statements and returns 2017-18
• University Consolidated Accounts 2017-18 [XLS]

Previous financial statements

Previous financial statements are available on the SFC archive.

Accounts direction

• Accounts Direction for Scotland’s Universities 2022-23

British Universities Finance Directors Group (BUFDG) model financial statements

SORP Model Financial Statements are available on the BUFDG website. You will be required to enter your username and password to gain access to this material.

Early retirement and pensions

• Scottish Teachers Superannuation Scheme: university funding to support the change to the employer contribution rate
• Early retirement provision guidance July 2016 [PDF]
• Early Retirement Provision spreadsheet (CPI indexed schemes) July 2016 [XLS]
• Early Retirement Provision spreadsheet (RPI indexed schemes) July 2016 [XLS]
• Provisions for enhanced pensions (suggested net interest rates for 2016) [XLS]
• Updated mortality tables 2015 [PDF]
• Updated mortality tables 2015 [XLS]

See also Institutional finance for colleges.

Transparent Approach to Costing

The Transparent Approach to Costing (TRAC) is the standard methodology used by higher education institutions (HEIs) in the UK for costing their activities. It was established as an approach to identifying the Full Economic Costing (FEC) of all activities to improve the accountability for the use of public funds and inform institutional decision making.