The Higher Education Funding Council for England (HEFCE) yesterday announced its plans for distribution of funding to universities and colleges for the academic year 2010/11.
The new figures come after the Government’s decision to cut higher eduction funding massively over the next few years, as stipulated in the Secretary of State for Business’ grant letter before Christmas.
A total of £7,356 million was allocated to cover teaching, research, capital and related activities.
The Board decided to split the money in the following ways: £4,727 million for teaching, £1,603 million for research, £562 million for capital funding and £294 million for national programmes and initiatives. £150 million was used for the Higher Education Innovation Fund (HEIF).
Sir Alan Langlands, Chief Executive of HEFCE, stated: “This is a challenging financial settlement, but we are doing all that we can to support excellence in teaching and research by keeping across-the-board reductions in core funding to universities and colleges to a minimum. Our approach will also give institutions maximum flexibility to pursue their priorities.
“These are testing times but higher education has benefited from very substantial growth over the past 10 years, and we should continue to aim for the very best within available resources.”
The allocations to individual institutions such as the University of York will be decided by the Board on 4 March 2010. These will then be announced on 18 March 2010.