Student financial information 2017-18

This information and the charts below are designed to explain the University’s financial position for the year 1 August 2017 to 31 July 2018 to readers unfamiliar with formal accounts and reports

The money values have been taken from the published and audited University Financial Statements but are presented in a format to provide useful information to students and stakeholders.

The University’s Results for the year 1 August 2017 to 31 July 2018

Figure 1 for 2017-18 financial statements

Income

The University received income of £62.4m in the year ended 31 July 2018. Tuition fees are by far the highest proportion of income and have now almost fully replaced Funding Council grants. The proportion of total income provided by such fees remained the same (71%) as last year. Other income includes income from residences, catering, shop and class sales.

Category £'000 %
Tuition fees 44,433 71%
Funding council grants 8,699 14%
Research grants and contracts 42 0%
Other income 9,241 15%
Total 62,415 100%

 

Figure 2 2017-18 financial statements

Expenditure

The University recorded spend of £62.9m split between: staff costs; non-staff costs for courses, student welfare and student union grant, campuses and departments; charges for improvements and investments in buildings, equipment; and interest and finance charges. 59% of the University’s spend is incurred on staffing costs, in addition to direct staff costs the University pays the government national insurance contributions, apprenticeship levy and contributes to the University’s pension funds. 

Category £'000 %
Staff salaries & wages 27,033 43%
Employer national Insurance and pension contributions and apprenticeship levy 10,072 16%
Course, student welfare, student union grant, campus and departmental expenses 24,825 39%
Interest and finance charges 958 2%
Total 62,888 100%

 

Figure 3 2017-18 financial statements

The same £62.9m spend can be shown in a different format to better understand how the University manages its spend. The University regularly reviews its spend and future budget to enable it to make decisions to achieve best value for students.

Figure 4 2017-18 financial statements

The direct cost of running courses are shown within the Academic department section.  The University could not operate the courses without substantial support; a more detailed analysis of how the University allocates its spend is shown below.

Figure 5 2017-18 financial statements

Investment 

In addition to annual on-going charges, the University invests in its estate by making improvements to buildings and infrastructure and purchasing new equipment. In the year to 31 July 2018 this amounted to a total of £7.8m.

Figure 6 2017-18 financial statements