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StudentsÌýare demanding more from universities and asking how their fees are being spent.ÌýIndeed, aÌýrecent survey found that 76% of students in EnglandÌýfeel they do not receive enough information on how universities spend their money.ÌýAnd this isn’t just an issue in England, with 72% of students in Wales, 73% in Northern Ireland and 67% in Scotland saying the same.Ìý

Universities are increasingly aware of this heightened student and public interest, and the importance of doing something to address misconceptions around their funding, their spending and how this provides value to students.

Meanwhile the Office for Students hasÌýÌýfor higher education providers in England to give clear information to students on their spending.Ìý

It is therefore more important than ever that universitiesÌýprovideÌýaccessible information on their income and spending to address both public interest and expectations of key stakeholders. UniversitiesÌýÏã¸ÛÁùºÏ²Ê¿ª½±½á¹û has produced a new guideÌýfor the sector with clear recommendationsÌýon how to present income and expenditure dataÌýto students.

The guide sets out best practice and suggested approaches for universities to consider. In producing thisÌýguide,Ìýthe views of students andÌýuniversity staffÌýhave been sought along with the views ofÌýkey stakeholders in the sector.Ìý

It stresses the need for informationÌýon income and expenditure to be presented in as clear and accessible manner as possible, and that technical terminology should be avoided or explained so that students can easily understand the data provided.Ìý

The guide also reflects feedback, fromÌýstudents in particular,ÌýthatÌýwhileÌýimportant in improving transparency and accountability, data onÌýincome and spendingÌýinÌýitselfÌýdoes notÌýreflect the value that spending provides. As such, the guide suggestsÌýthat universitiesÌýshouldÌýconsider explanations which tell a fuller story of how their spending adds value.

If the sector is to make progress in reducing the proportion of students that say they need further information on this issue,ÌýuniversitiesÌýwill also need to do more than include information on their websites. As such the guide recommends that institutionsÌýshouldÌýalsoÌýworkÌýcloselyÌýwith their students to ensure theÌýinformation,Ìýthey are providing is meaningful, tailored to their specificÌýneedsÌýand is communicated as effectively as possible through a range of channels.Ìý

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As theÌýguideÌýshows, there are manyÌýgood examples of universities presenting this information to students in an accessible and clear way, butÌýwe recognise thatÌýfurther progress is needed – particularly in improving coverage and making this more consistent.

It is now time forÌýthe sectorÌýto take the initiative inÌýimproving transparencyÌýandÌýfor universities toÌýbe ambitious in their efforts toÌýexplainÌýtoÌýstudentsÌýhow they are funded,Ìýhow they spend their moneyÌýand how this adds value to their experience.