Introduction to TRAC

OUTLINE

This virtual course provides an introduction to the Transparent Approach to Costing (TRAC). It looks at the TRAC requirements, what universities need to do to comply with them and how they can go about doing it.

The course is aimed at members of finance staff involved in the implementation of TRAC within their institutions. It will also be of interest to more senior members of the finance team responsible for overseeing the TRAC process as well as to people from other teams.

Topics that the course will cover include:

• what TRAC is all about and how it works;
• the TRAC costing methodology and what institutions need to do;
• completing the annual TRAC and TRAC for Teaching returns;
• calculating the indirect and estates cost rates;
• full economic costing for research projects;
• approaches to academic staff time allocation; and
• determining cost rates for laboratory technicians and research facilities.

No previous experience of TRAC is required.  If you have BUFDG Pro, you may wish to complete the Introduction to TRAC e-learning to understand some of the terminology ahead.  

The course is delivered online over a period of two weeks, allowing you to structure your learning around your work and other commitments.

The course will include:

• a video welcome by your course tutor;
• a one-hour live online introductory session with your course tutor and other participants, to get to know each other and to discuss how the course will work;
• a series of pre-recorded online self-study sessions covering key TRAC topics, presented by your course tutor in bite-sized chunks to help you to structure your learning (four hours in total);
• two one-hour live online group workshops with your course tutor to explore key topics in more detail and to answer any questions you may have;
• additional worked examples and online learning quizzes to consolidate your learning; and
• ongoing contact with your course tutor and other participants through the course discussion board.

We do ask that you can commit to attend the 3 zoom sessions before signing up for the course.  These will take place on:

• Monday 23rd November 1pm-2pm
• Friday 27th November 11am-12pm
• Friday 4th December 11am-12pm

To participate in the course and to access the course materials, you will need a computer/tablet with a reliable internet connection, a microphone and audio capability. You will also need the free Zoom app, a video player app and a web browser.

Your course tutor will be Simon Perks, who has considerable experience of advising higher education institutions on the TRAC methodology and of developing TRAC costing models. He is the founder and director of Sockmonkey Consulting and lives in Somerset with his wife, Natalie, and Molly and Ozzy, his Labrador dogs.