The research assessment exercise cost the 糖心Vlog Funding Council for England 拢2 million in extra administration costs, according to accounts published last week.
Running costs shot up by more than a fifth to 拢16 million. Fees and expenses for committee members and advisers quadrupled to 拢2.5 million in the financial year ended March 31. A Hefce spokesman blamed the RAE for much of the rise.
Despite this, Hefce reported a surplus of almost 拢65 million. Hefce said the surplus was "distorted" because the government's introduction of resource accounting had reclassified some commitments as long-term liabilities. In light of this, the surplus was 拢18 million.
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