Why did HEFCE pay more in February 2010 for 2008-09 eligible gifts than we expected?
The profile of payments that we announced originally – 11.5 per cent, 31 per cent and 57.5 per cent for each of the three years – was based on the timing of the total £200 million funding being provided to us by the Government, of £23 million in 2009-10; £62 million in 2010-11; and £115 million in 2011-12. The annual percentages were expressed as percentages of the total £200 million (£23 million = 11.5 per cent; £62 million = 31 per cent; £115 million = 57.5 per cent). So had the sector received eligible gifts in 2008-09 that would trigger matched funding of 200 million, we would have still pay out 23 million but it would have been 11.5 per cent of the eligible amounts. The letter sent to universities and colleges alongside the first payment in February 2010 said: ‘Your February payment from HEFCE is [amount of payment]. This amounts to 37.6% of the total match for your first year’s claim, based on your tier. It was originally anticipated that HEFCE would pay out only 11.5% of eligibl
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- Why did HEFCE pay more in February 2010 for 2008-09 eligible gifts than we expected?
