Value for Money
The Office for Students has signalled that Value for Money (VfM) must remain a significant priority for the sector. Students need assurance that they are receiving "value" for their tuition fees - and whether that value is measured in "input" or "output" terms is a continued point for debate. From a somewhat different standpoint, HM Treasury has an interest in the value derived from public funding for the sector. Governing bodies play an important oversight role in ensuring that their universities are delivering value for money.
The history of value for money reports and, more recently, annual efficiency returns, shows that it can be difficult to determine how best to demonstrate VFM. Is it all about a mindset that is an integral part of good management, and if so how can it be evidenced? Is there a risk that demonstrating value for money can itself lead to costly processes or to debatable statistics about savings achieved?
Uniac has been, and continues to be, at the forefront of the value for money debate within the sector. We use our significant experience to help institutions to assess value for money arrangements - both undertaking reviews of specific topics and supporting the development of overall frameworks that ensure, and demonstrate, value for money.
uniac talk to our specialists
- Sean is the Lead Director of Uniac.
- He has twenty years' experience in higher education covering all aspects of university accountability, funding, governance and management.
- His particular interests are in student recruitment, admissions and retention; together with workforce planning and performance management and development of staff.
- Prior to joining Uniac he qualified as a chartered accountant which he later supplemented with an MBA. He worked both in practice and in banking - both of which were excellent training grounds for his current role.
- Outside of the sector, he chairs an audit committee within an arts organisation.
They cover high priority risks and processes that are important to us.Uniac Member