Transparent Approach to Costing (TRAC)

The Transparent Approach to Costing (TRAC) is a standardised methodology providing information each year on the income and expenditure of UK universities to the UK Government's Office for Students.

TRAC takes into account financial and non-financial data, including:

  • Financial Statements
  • Academic time allocation (from the Academic Activity Survey)
  • Space: area and weightings by type of space occupied*
  • Staff (and student) FTE and headcount

TRAC provides the costing and pricing information to calculate the Full Economic Cost (FEC) of undertaking research projects.

*Distinct types of space are required because of the different costs of using and maintaining, for example, laboratories, workshops, lecture theatres and other buildings

 
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