The University has now received details of its recurrent funding from the Higher Education Funding Council for England (HEFCE) for the year starting 1 August 2010. The University will see a reduction in funding of ?361?000 (-0.35%) compared with the current year.

The reduction is caused by the withdrawal of the one year moderation funding of ?2.6 million that we are receiving in the current year. The moderation funding was given to compensate for the reduction in our research grant following the introduction of a new funding methodology and its application to the 2008 Research Assessment Exercise results in 2009/10. If the moderation funding is excluded from the calculation? both our teaching funding (+2.35%) and our research funding (+2.4%) have increased above the national average.

For 2010/11, we will receive ?56.9 million for teaching, ?45.4 million for research and ?1.9 million under the Higher Education Innovation Fund, producing a total grant of ?104.2 million.

There are warnings in the grant letter that there may be further reductions for the coming year, but that these will not be known until after the General Election. We are also expecting a reduction of around ?500,000 in our capital funding for next year which will be announced in June.