TRAC Sub-Committee

Terms of Reference

A sub-committee of Finance Committee with responsibility for the implementation of the transparent approach to costing (TRAC) methodology and compliance with relevant guidance.

  1. To review in detail the University’s annual TRAC return including the underlying methodologies and data collection mechanisms.
  2. To benchmark and evaluate the University’s performance in relation to sector activity.
  3. To ensure that the University’s transparent approach to costing complies with relevant OfS guidance.
  4. To  recommend the University’s annual TRAC return to the Accountable Officer and to prepare a report for Finance Committee.
  5. To promote and advise on the use of TRAC data for internal decision-making purposes.
  6. The minimum quoracy for the TRAC Sub-Committee will be half of the membership plus one.