New fEC Rates for 2022

Please be advised that X5 has been updated with the new fEC rates for 2022, which this year are applicable from 9th March 2022. (The University’s TRAC Return was successfully submitted to the Office for Students on the 8th March 2022). The increase in the rates reflects a return to levels anticipated pre-COVID, including less pessimistic forecasts of Group financial performance, alongside forecast increases in energy costs, and a change in the nature of fEC calculations redistributing costs from Estates-lab to Indirect categories.   

• Users of X5 will need to update their costings (go to the Rates Tab / FEC rate file / Facilities Rates File / Inflation File select the new date and save or use the Apply all updated files now option).   

Also be aware that after updating the Facilities rates file  

• The funder budget headings in the Facilities tab have been removed and will need to be re-entered 
• Facilities using ‘Variable rates’ have defaulted to 0.01. Users will need to change this figure back to previously agreed rate 
• Facilities that are no longer available should be replaced by a new or similar facility 

If you have any queries about the updates, please contact your Research Development Team at the Research Operations Office.