The operating statement typically sets out what an institution intends to do in the short term (usually annually) to meet the longer term objectives of the strategic plan. Institutions in England have to return a copy of the similarly named annual monitoring statement to HEFCE which includes identifying how they are using funds which are allocated formulaically. The governing body usually approves the annual operating statement and monitors results.
At some institutions the tasks and targets which are part of the operating statement are embedded in the strategic plan, but more usually they are separate documents. Operating statements commonly cover the following features:
<<Return to previous page To next page>>