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News for star TRAC[k]ers
27 July 2016 Karel Thomas, Executive Director
Version 2.0 of the TRAC Guidance has now been published on the HEFCE website to take account of the implications of the new Financial Reporting Standard 102. The principles of TRAC are still the same but the TRAC Guidance and the Annual TRAC return has been amended so that the new accounting requirements - i.e. how income is reported and that institutions have some choices in their accounting policies - are reflected appropriately in TRAC. Three further changes relate to:
calculation of the RFI adjustment – a revised template has been developed to enable the adjustment to be calculated
an adjustment to reflect the treatment of Universities Superannuation Scheme and the Superannuation Arrangements of the University of London pension provisions
an adjustment to the cost pools for the full economic cost (fEC) charge out rates to remove items that were previously classed as exceptional items.
There will be a session about these changes at the TRAC Conference on 3rd October - tickets are going fast, so don't delay booking your place at this annual event.
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27 July 2016 
Karel Thomas, Executive Director
