13 September 2017 
Matt Sisson, Projects and Membership Manager
From HEFCE - "In a change to previous years, HEFCE will not be asking publicly funded higher education institutions (HEIs) to submit ‘value for money’ reports in December as part of the annual accountability returns process. Instead, HEFCE will require all HEFCE-funded HEIs (not further education colleges) to submit an annual efficiency return – a more targeted collection of data on efficiencies realised in the 2016-17 academic year – by 31 January 2018.
HEFCE will still expect each HEI to consider internal reporting on value for money as part of management and governance processes and appropriate to each HEI’s circumstances. We will shortly publish the findings of a review of the value for money reports submitted for 2015-16, which HEIs may find helpful for their internal reporting. However, it will not be necessary to submit full value for money reports to HEFCE. Further guidance on the new annual efficiency return, including the return template, will be issued in October. For further information contact Matthew Davey."
BUFDG and HEPA are currently working with HEFCE to smooth out any potential wrinkles with the new report. We'll keep updating the sector as and when we have more information.
