BUFDG Digest - 28 August 2024

SECTOR 

A-level results day in England, Wales and Northern Ireland saw top grades rise and 82% of applicants getting into their first-choice university. Despite earlier data indicating a fall in applications from UK-18-year-olds (£), changing behaviour has seen later demand resulting in record numbers of applications this year overall. Initial clearing data indicated that high-tariff universities are faring better, but with thousands of places still to confirm, the lower-tariff picture may change. Wonkhe has been running the numbers on clearing, and the early insights may surprise some.  

A new report from Public First and the University of Warwick has called for the creation of a £2.5bn transformation fund, and a new Higher Education Commissioner to manage “unsustainable levels of uncertainty” around large-scale provider exit.   

The new interim chair of the Office for Students has commented that the golden age of Higher Education is ‘probably’ over, but that all options should be on the table to secure the financial sustainability of institutions (£).  

In case you missed it, the Department for Levelling Up, Housing and Communities was renamed the Ministry of Housing, Communities and Local Government in July 2024. 

PENSIONS 

USS has provided an update following the recent Court of Appeal ruling on the Virgin Media v NTL case, confirming that it will take time to fully understand the legal implications for the scheme, and they will update stakeholders of any notable developments.  

USS has also confirmed that the annual disclosure note for universities to include within their statutory accounts is being drafted and is expected to be released in the next couple of weeks. We will share this via BUFDG website news and the discussion board as soon as it is available.  

We've had a few queries about LGPS Asset Ceiling adjustments, which are an accounting issue (rather than an actuarial issue) Rebecca Giles of Mercer has sent some information which is in this discussion board post.  Remember you can now choose how you sort DB posts - newest or oldest first.

SCOTLAND  

The accounts direction for Scotland’s universities for the 2023-24 financial year is now available on the Scottish Funding Council website. Institutions must comply with this accounts direction in the preparation of their annual report and accounts.  

The SFC is seeking a Research Cultures Collaboration Manager to work on behalf of the Scottish university sector. This new strategic role will be dedicated to advancing research cultures at a national level across Scotland. Recruitment is being conducted by the University of Aberdeen, where the post holder will be hosted, and the deadline for applications is 8 September 2024. 

TAX 

BUFDG has issued a response to the Treasury’s call for evidence on the tax treatment of carried interest, ahead of the deadline on 30 August.  

A paper has been published by BUFDG and the Healthcare Financial Management Association, highlighting the VAT implications for clinical trials for universities and NHS Trusts. This summary will help universities and NHS Trusts determine if VAT should be charged to the NHS and commercial organisations when the university is involved in clinical trials.    

HMRC has asked us to share a fraud alert with members regarding waste management.  This is being jointly issued with the Environment Agency, Revenue Scotland and the Welsh Revenue Authority.  

Vialto Partners are hosting the BUFDG Global Mobility Roundtables across the UK throughout October 2024, and you are invited to join us in Birmingham (7 October), London (8 October), Edinburgh (9 October), and Liverpool (10 October).  

A reminder to save the date for the 2025 Tax Conference, which will be held in person at the Edgbaston Hotel and Conference Centre, Birmingham on the 11 and 12 June.  

PROCUREMENT 

A new paper, produced for BUFDG and HEPA by Weightmans, debating Contracting Authority status in English and Welsh HEPs may be of interest to those navigating whether they are subject to public procurement rules in the context of the Public Contract Regulations 2015 and the Procurement Act 2023.  

Members who are not Contracting Authorities yet who currently publish using FTS / Contracts Finder for certain funding bids may wish to read this thread on the HEPA discussion boards regarding future publication utilising the new digital tools being developed by the Cabinet Office. 

The Cabinet Office is currently reviewing Central Digital Platform (CDP) onboarding plans.  To help them prepare and resource their support offering, the programme team are seeking visibility of those procurements which colleagues believe will be launching in the first four weeks post Procurement Act go-live on 28 October 2024.  HEPA is asking members who are in scope to complete this short survey at the earliest opportunity to help build the picture for the H E sector.  HEPA will share the survey results with the programme team in the Cabinet Office to help inform their onboarding plans.  Even if you are not planning any procurements within this window then this information is also useful to the team. 

A reminder that as the single point of contact for the transforming public procurement programme HEPA has recently shared several useful resources, which can be found in one place in this HEPA summer 2024 roundup. along with details on a forthcoming round-table discussion on Pre Market Engagement, and a time to talk on Recruitment Trends and Strategies.

Crown Commercial Service has become the first UK framework provider to achieve Gold Standard status on a government verification scheme launched by Constructing Excellence, designed to improve the procurement of construction projects for the public sector. 

  
SUSTAINABILITY 

In July 2023 BUFDG, with AUDE, and the Environmental Association for Universities and Colleges (EAUC), and funding from the Department for Education, started to help members estimate the ‘Cost of Net Zero’ with a sector-wide report and corresponding calculator. The final webinar with Energise, the sustainability consultancy that developed the tool, will take place on Thursday 26 September 11am-12pm and will include updates on the scheduled maintenance following the release of revised Future Energy Scenarios in July.  

One year on from considering the costs associated with reaching net zero, AUDE has published a new ‘Guide to Decarbonisation’ to provide practical advice and specifications, and support both early stage and progressed decarbonisation planning in H E. This guide was commissioned from Arup, with the support of partner organisations including BUFDG, HESPA, GuildHE, and the EAUC.  

Given the cross-campus nature of the challenge, BUFDG members are invited to attend two introductory webinars hosted by Arup Project Lead Andy Sheppard, and Dr Roddy Yarr of the University of Glasgow. A guide to Decarbonisation -Foundation plans takes place on Wednesday 2nd October 2024, 3-4pm, and Enhanced Plans on Thursday 10 October 2024,  10-11am.  

 
RESEARCH

Registration is open for this free "Unlock Excellence in Post-Award Finance & Compliance" online training event taking place on 12th of September, 10-11am. Organised by Crowdhelix, this session will be useful to those working in research finance and post-award. Charles Shannon (Head of Research of Innovation Quality and Policy at Loughborough University and co-champion of the ARMA Audit and Compliance Special Interest Group) is a confirmed speaker. 

MISCELLANCEOUS 

Researchers at the University of Sheffield are seeking your views and experiences for a UK-wide survey exploring university staff and students' experience of the university built environment. Supported by the charity Student Minds, the research project aims to explore how a university's built environment can support students and staff to meet their physical and psychological needs, and enhance their wellbeing. The survey is intended to help shape the future approach of universities and student accommodation providers and promote positive wellbeing. 

JOB OF THE FORTNIGHT  

Our featured role is Management Accountant at the Alan Turing Institute. The successful candidate will support this unique organisation, based at the British Library in London, by preparing detailed financial reports, and developing and embedding financial planning, analysis and reporting. The closing date is Sunday 8 September 2024.  

Other vacancies listed on the BUFDG jobs page include Research Finance Officer at the University of the West of England, Business and Finance Manager at the University of Huddersfield, and Senior Management Accountant at the University of Exeter.