TRAC (T) involves determining the full economic costs of Teaching at a subject level.
TRAC (T) has three main aims:
- to enable HEIs to understand their own costs better, so that they can use cost information for planning, decision-making and management
- to inform HEFCE’s (and DELNI) allocation of funds for teaching
- to assist in understanding the total costs of sustainable teaching
Currently the development of TRAC (T) falls into two main areas:
1. To provide information to help understand the total cost of sustainable HEFCE-fundable teaching at institution and sector level. This is not currently available from TRAC, but will inform HEFCE’s work in making the case for funding for the sector. It will also contribute to institutions’ understanding of the total costs and sustainability of their HEFCE-fundable teaching.
Queens is required to:
- ensure that the identification of publicly-funded and non-publicly funded student numbers and therefore cost apportionments are robust at school level
- allocate TRAC costs of Teaching between HEFCE-fundable and non-HEFCE fundable provision at school level
- report the total cost of HEFCE-fundable Teaching to HEFCE
2. To derive the full subject-related costs of teaching a typical student in each HESA academic cost centre at every institution. This is called Subject-FACTS (Subject-related Full Average Costs of Teaching a Student). This information is being benchmarked, and will therefore provide two valuable outputs:
i) for institutions, benchmarked costs of teaching across 41 HESA subject areas will provide management information to support planning, pricing and portfolio management;
ii) for HEFCE, information which will enable it to review the price group structure in its funding method for teaching, and if appropriate to develop new price groups and price group relativities, informed by the full economic cost of these subjects.
Queens is required to:
- remove the costs of non-subject related activities at school level, mainly by using DELNI income as a proxy for costs in Stage One of TRAC (T) development
- map the resulting subject-related costs of HEFCE-fundable teaching at school level onto HESA academic cost centres
- divide these teaching costs in each HESA cost centre by the HESA full time equivalent (FTE) HEFCE-fundable student numbers for that cost centre
- report these average HESA cost centre costs (Subject-FACTS) to HEFCE and participate in the benchmarking exercises