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developments to watch
Developments to Watch
There are a number of financial challenges likely to face governing bodies in the near future. Some specific issues include:
- The significant reductions in public funding for higher education, and the effects of charging much higher tuition fees for home undergraduate students;
- The future funding of and arrangements for pensions;
- The continuing increases in staff costs and the future of national pay arrangements;
- Whether Private Finance Initiative (PFI) schemes will continue to be a viable means of funding capital projects;
- The future of research funding; and
- The long term effects of demography on home student numbers and international developments on students from overseas.
See the powerpoint presentations from Governing in a Downturn.
Reports that the University of Cambridge is considering issuing a bond of up to £400m. have led to discussion early in 2010 of the wider potential value of bond issues in the higher education sector.
The British Universities Finance Directors Group (BUFDG) and PricewaterhouseCoopers LLP published a report early in 2009 aimed at raising awareness of the potential impact of International Financial Reporting Standards (IFRS) on further and higher education.
More information [PDF, 44Kb]
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