11 April 2018 
Matt Sisson, Projects and Membership Manager
The OfS has used the Easter break to publish a lot of information and guidance on how it intends to regulate the English HE sector in the brave new world. Among these is a new ‘T&Cs of funding for HEIs’ covering elements of the previous Memorandum of Assurance and Accountability (MAA) but minus those relating to research which are now the remit of Research England.
There are 40 pages for HEIs to get their heads around, but a few points stand out. Firstly, from the end of the interim year OfS hasn’t retained the ANOCx6 borrowing limit that was a part of the previous HEFCE agreement, which frees up institutions to make bolder borrowing decisions. It’s uncertain how this, combined with new OfS risk ratings and the unfinalised risk management procedures, will impact on the cost of borrowing.
The team at Wonkhe have a good round-up of the documents as usual, and thanks to them for pointing out a further point on exchequer interest register and annual calculations, which have been excluded from the new T&Cs. The balance will instead be calculated retroactively should an institution become insolvent or otherwise cease to operate as normal.
A final point – I’m sure I’ll be joined by colleagues taking a deep breath of relief that the £25k threshold for reporting fraud has been reinstated, after a worryingly vague statement on this in the initial consultation. It’s on the bottom of page 9 for reference.
