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New TRAC guidance that applies from 2014-15 has now been published. This is hosted on the HEFCE web site on behalf of all funders. The current TRAC requirements continue to apply for TRAC reporting for the year ending 31 July 2014, but once the 2013-14 TRAC reporting is complete, the HEFCE web site will become the sole resource for TRAC as well as financial sustainability materials.

Transparent Approach to Costing (TRAC) Guidance:

prepared for the JCPSG by J M Consulting Ltd


This Guidance consolidates the TRAC Manuals issued by the Joint Costing and Pricing Steering Group. See Annex 1 for a list of these.

When given in bold text, the word should indicates mandatory guidance which needs to be met by institutions. These are listed in a Section called 'Minimum Requirements' which is included in each Part of the Guidance.

SuperIndex provides a quick access to definitions of key terms and phrases and to the Sections in the Guidance where these are explained or described further. It also provides a reference to the original TRAC Manuals.

This Guidance is of a technical nature suitable for use by finance and research services staff in Higher Education Institutions (HEIs) who are responsible for TRAC methods in their institution.

The latest overview of TRAC, published in July 2009, is now available on the website for the Higher Education Funding Council for England. This examines the financial management needs of higher education and the role of TRAC. It supersedes the original self-contained pdf of 'An overview of TRAC' available on this website, which provides a description of the context in which TRAC was designed and developed, and key aspects of the TRAC approach.

You can download a zipped archive of Parts I - VI of the TRAC manual and the complete set of annexes (Word, Powerpoint, Excel formats). This is a 764kb zipped archive and may take a few minutes to download. You need to save the archive to your desktop and then open the folder. Drag and drop the folder inside (containing all parts of the manual and annexes) to an appropriate place on your computer. You can then open the individual Word documents as you need.

The HEFCE, advised by the TRAC(T) Steering Group has approved draft guidance for costing teaching in England and Northern Ireland. Draft TRAC(T) Guidance for England and Northern Ireland.

Guidance for HEIs in Scotland is given in Appendix 12 Implementation to TRAC(T) by HEIs in Scotland and Appendices 12-1 and 12-2.

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