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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.

Part III - Annual TRAC

Costing system schematic

data process product
costing schematic

The annual TRAC process involves the attribution of costs to five figures, for reporting each year to the Funding Councils. The aim is to satisfy public accountability, and also to provide data that can be used for internal management.

The costing schematic shows how the annual TRAC processes provide data for the annual TRAC return and the charge-out rates that are used to derive costs used in estimating the fEC of research projects.

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