Study of the Finances of Physics Departments in English Universities
The data obtained in this study reveal a complex picture about the financial position of the sample of 10 physics departments in English universities.
Overall in 2003–2004 all of the sample departments that were able to provide transparent approach to costing (TRAC) cost data showed deficits in gross income against full economic costs. There appears to be a weak correlation between the percentage of total income that the deficits represent and the 2001 Research Assessment Exercise (RAE) grade of the department. It is important to note that TRAC is not only a costing and pricing tool, but is at least as much a management tool for departmental and for central managers.