BUFDG Digest - 14 August 2024

Summer may be in full swing, but those who perceive it to be a quiet time in the world of Higher Education are mistaken. Last week saw pupils in Scotland receive their A-level results, while England, Northern Ireland and Wales reveal theirs tomorrow (Thursday 15 August) with the press likely to focus heavily on recruitment challenges in the coming weeks. Clearing is open, and 1 August marked the start of the new financial year for most. There have been several updates from the new Labour Government clarifying their position on universities, including no plans to raise tuition fees, the Bank of England has cut interest rates for the first time since 2020, and the date of the Autumn budget has been confirmed as 30 October 2024.  

OFFICE FOR STUDENTS 

The publication of the Office for Students’ business plan: 2024-25 confirms their priorities and areas of work for the forthcoming year. Areas of focus include the quality of courses, equality of opportunity, and financial sustainability in line with the recent Government announcement that the role of the regulator will be refocussed to prioritise the financial stability of the sector.  

As this marks the third and final year of the existing OfS strategy two regional workshops have been announced in Coventry (9 September) and Sheffield (11 September), and are open to students and senior staff working in H E who are interested in helping shape its future strategic direction 

The OfS also published the 2024-25 Guide to Funding, which explains how the amount of funding each higher education provider is allocated. 

As reported in the Financial Times (£)and Times Higher (£), the OfS has launched a tender for up to £4m, seeking professional services to ‘evaluate the financial health and the management and governance capability of HE providers’ and undertake financial risk and transformational planning assessments, working with up to 10 struggling institutions. The contract suggests that the potential for market exits is being taken seriously, but in the face of ongoing financial challenges across the sector and the Government’s current position on university finances there is uncertainty over whether the OfS has the tools and powers to deliver on Labour’s manifesto promise to put England’s Higher Education Providers on a ‘secure financial footing’. The OfS has confirmed that a proposed interim data collection request will not proceed, but a small number of institutions will be asked for an updated cash position.  

SECTOR 

Those at the coal face may benefit from a report released by Advance H E, titled Leading strategic change in higher education in challenging times. This publication is the result of round table discussions held in June and July 2024 by Advance HE and Wonkhe, with senior leaders, heads of schools, and governors from UK and international HEPs. 

UKRI’s annual report 2023-24 identified the financial sustainability of the UK research system as a principal area of risk, and acknowledged that the ongoing financial challenges being experienced by HEPs across the UK is having a negative impact on the financial sustainability of the research system (£).  

KPMG and Wonkhe have published the Higher Education Policy Landscape July 24 – General Election special.  This KPMG election briefing paper offers a digested summary of key policies and their implications, with a particular focus on boards of governors and university stakeholders who are not working full time in Higher Education.  

The University of Birmingham is calling on the UK Government to maximise the potential of universities to deliver its missions with a report focusing on the role universities play as key drivers of economic growth and social mobility. 'Skills, Research and Higher Education: A Vision for the New Government' makes recommendations for how the sector can help policy-makers tackle some of the challenges facing the world.

Along with the forthcoming Universities UK 'blueprint' outlining how universities can tackle the challenges that the public care about the most, it's clear the sector is collectively doing all it can to demonstrate how H E can provide solutions to many of the Government’s wicked problems such as economic growth, healthcare, and climate change.

SCOTLAND 

The Scottish Funding Council (SFC) has published guidance on the new arrangements for quality assurance and enhancement in Scotland's colleges and universities, along with a list of Frequently Asked Questions. This covers the first cycle of Scotland's Tertiary Quality Enhancement Framework (TQEF) from academic year 2024-25 to 2030-31.  

The SFC will be hosting a series of TQEF online drop-in sessions on the 15 and 19 August, and 3 September 2024, sign up via the online registration form.  

The SFC have confirmed that the accounts direction for Scotland is expected to be released within the next couple of weeks, and will include changes in respect of Fair Work disclosures and updated wording re the 2023 Code of Governance.  

The eagle eyed among you will have noted improvements to the SFC website in recent weeks, with normal response times restored after extensive technical improvements.  

WALES 

A reminder that Medr, the new name for the Commission for Tertiary Education and Research, officially took the baton from HEFCW as the regulator for the Welsh H E sector on 1 August. No website has been launched yet, but the latest info can be found here. 
 
TAX ADVOCACY UPDATES 

Julia is continuing conversations with HMRC following a more streamlined application process for certificates of residence. HMRC are trying to promote the method they used to remove obstacles in this area to other areas experiencing certification delay, such as certificates of coverage. Julia will provide statistical analysis for HMRC use, to promote the processes adopted. 

Julia met with Paul Jones from the Tax Centre of Excellence regarding National Minimum Wage issues at NHS Trusts, and similarities with H E. Further discussions are planned with HMRC and the Low Pay Commission. 

Following EAUC’s recommendation for Edinburgh University to help present at the Tax Conference regarding their sustainability practices, Julia recently shared a recording of the session with members of the EAUC team, who were glad there was a session on using the tax and financial systems to try to reward and shift behaviour towards sustainable travel modes. 

PENSIONS 

Universities UK’s (UUK) USS responsibilities officially transferred to Universities and Colleges Employers Association (UCEA) on 1 August 2024. Existing UUK appointments to the USS Board, the Advisory Committee, and the Joint Negotiating Committee (JNC) are now UCEA appointments. 

In case you missed it, the USS pension provision modeller is now available to download. Due to the deficit recovery contributions ending in December 2023, this modeller provides the calculation for the unwinding of the pension liability, split between interest payable and staff costs.  

The Teachers’ Pension Scheme (TPS) is in the headlines again (£), with high costs forcing universities to look for cheaper pension options and many voices in the sector urging the Government to review H E’s participation in the scheme. Meanwhile, Local Government Pension Scheme (LGPS) funding is hitting new highs, with Isio reporting a £45bn surplus primarily due to increases in asset values and small reductions to future inflation expectations.  

BUFDG UPDATES AND EVENTS 

We are pleased to share our new Senior Finance Leaders: Network webpage where you will find details of forthcoming meetings for Deputy FDs, a link to the CFO/FD discussion board and other relevant events. This is a new page so please let us know if you think anything else would be valuable to include.    

Upcoming Time to Talks include Income Collection and Management on 27 September, and Navigating the Future: Higher Education Procurement Recruitment Trends and Strategies on 1 October. Visit our events pages for full listings.  

A reminder that bookings are open for the TRAC Practitioners Conference taking place from the 24-25th September, if you or relevant colleagues have not booked a place yet please do.   

Save the date for this year's Management Accountants' Week which will take place from Tuesday 19 to Friday 22 November 2024.  

Also confirming that the next Tax Conference will be held in person at the Edgbaston Hotel and Conference Centre, Birmingham on the 11 and 12 June 2025 and we are looking forward to seeing everyone in real life!  

SUSTAINABILITY  

The first energy Mission Board has taken place, focusing on immediate action to make Britain a clean energy superpower. Chaired by the Energy Secretary Ed Milliband, this Board follows the launch of the Department for Energy Security and Net Zero department’s Mission Control, which has been established to ‘turbocharge the government’s mission to decarbonise Britain’s power system by 2030’.  

Salix has announced a two workshops bringing together leaders from universities and colleges to explore and navigate the pathway to net-zero emissions. Transforming education for a sustainable tomorrow is an opportunity to engage with leading experts, hear best practice case studies, and uncover actionable insights, successes, and challenges in achieving sustainable campuses. Join Manchester Met University on Thursday 5 September 2024, or the University of West of England on Tuesday 10 September 2024.  

EAUC has released a suite of resources to assist with the recording, with the aim of reducing, commuting emissions from staff and students. Whilst developed by EAUC Scotland, with support from the Scottish Funding Council, this resource is relevant to UK and Ireland organisations. 

BUFDG has created a new summary of the sustainability reporting landscape in HE, which summarises the existing standards and provides a brief explanation of what they cover. It is a working document, and we welcome any contributions or thoughts from members – please contact Matt. 

A final reminder that one year on from the launch of the Cost of Net Zero, the feedback survey on the Calculator closes tomorrow, 16 August, ahead of the final technical surgery on 26 September 22024. Please do share any thoughts or suggestions to help us identify the best way to support members with Net Zero matters going forward.  

PROCUREMENT 

Following on from the interesting discussion of Pre Market Engagement (PME) on the HEPA discussion board, HEPA is delighted to host a round-table discussion to consider how PME is managed, monitored, recorded and reported across the sector.  The session will take place on Monday 9 September at 14:00 via Teams – places are free of charge and can be booked here. 

We are also pleased to be hosting a Time to Talk with Michael Page Procurement & Supply Chain providing an overview of the current HE procurement Market, recruitment challenges and opportunities, overview of skills and competencies in demand as well as ideas for effective recruitment strategies.  Navigating the Future: Higher Education Procurement Recruitment Trends and Strategies will take place on Tuesday 1 October 2024 at midday via Teams. 

The Cabinet Office has published the Learning Manual for the Transforming Public Procurement L&D project on gov.uk which includes content from each of the nine learning modules and summary documents.  You can download the full resource here.  

The Cabinet Office has released a further batch of Procurement Act 2023 guidance; the full list of resources published is available via the HEPA website, and the full suite of documents are available to download form gov.uk. 

HEPA has shared an update from the Procurement Review Unit (PRU) which covers an overview of the PRU, how to find out more, and "day one" for Contracting Authorities. 

HEPA has also shared a briefing on the Procurement Pathway tool that helpfully sets out what the tool is and is not, which templates will be available via the tool and contains a series of FAQs.  As soon as the tool is launched HEPA will provide a comms release and link to the tool itself. 

The national Responsible Procurement Group (RPG) has released its update for summer 2024 which members can read here.  

JOB OF THE FORTNIGHT 

Imperial College London are seeking a Sustainable Procurement Manager on a 12-month fixed term contract to support the Procurement and Sustainability teams in the realisation of Imperial’s Net Zero 2040 target. The role will be key to the implementation of Imperial’s new Sustainable Procurement Policy and Strategy, and will involve working closely with the Procurement Department, College stakeholders and suppliers to develop initiatives and reduce Scope 3 emissions. Closing date 19 August 2024. 

View all vacancies listed on the BUFDG jobs page.