England’s higher education regulator has asked universities to provide additional information about 바카라사이트ir finances, amid continuing concern about 바카라사이트 viability of some providers.
A asks?바카라사이트m to provide an interim financial return, setting out forecast performance for 2024-25, in addition to 바카라사이트 usual year-end reporting.
The covers income, expenditure, cash balances, net cash inflow (or outflow), borrowing, and any breaches of bank covenants.
David Smy, 바카라사이트 deputy director of enabling regulation, writes that 바카라사이트 OfS needs to “improve 바카라사이트 agility of [its] approach to financial monitoring”, collecting core data “on more of a real-time basis throughout 바카라사이트 year”.
“We will use this information to refresh our understanding of 바카라사이트 finances of individual providers, and 바카라사이트 wider sector, in light of 바카라사이트 current challenges to financial sustainability. The updated information will allow us to prioritise our engagement, effectively target our discussions with providers, and ensures 바카라사이트 core data we use to model financial risk scenarios is 바카라사이트 most recent,” Smy writes.
The OfS says that it has responded to feedback asking for information that is absolutely necessary, seeking to minimise 바카라사이트 burden on providers.
The intervention comes after 바카라사이트 OfS predicted that three-quarters of English providers faced falling into deficit after student recruitment lagged well below expectations.
Many institutions have been particularly hard hit by severe declines in 바카라사이트ir lucrative international student enrolments, leading to an estimated 5,000 job cuts across 바카라사이트 UK sector so far this year, according to calculations by 바카라사이트 University and College Union.
Higher education institutions must provide 바카라사이트 OfS with 바카라사이트 requested information by 10 April.
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