Student Financial Information 2018-19

This information and the charts below are designed to explain the University’s financial position for the year 1 August 2018 to 31 July 2019 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 2018 to 31 July 2019


18-19 Financial Summary

Income

The University received income of £66.2m in the year ended 31 July 2019.  Tuition fees are by far the highest proportion of income and have now almost fully replaced Funding Body grants.  The proportion of total income provided by such fees increased to 74% this year from 71% last year. Other income includes income from residences, catering, shop and class sales.

Category £'000 %
Tuition fees 48,690 74%
Funding body grants 7,727 12%
Research grants and contracts 226 14%
Other income 9,232 14%
Total 66,175 100%

 18-19 income pie chart

 

Expenditure

The University recorded spend of £66.4m 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 28,694 43%
Employer national Insurance and pension contributions and apprenticeship levy 10,465 16%
Course, student welfare, student union grant, campus and departmental expenses 26,317 40%
Interest and finance charges 956 1%
Total 66,432 100%

 

18-19 expenditure pie chart

The same £66.4m 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.

18-19 department spend chart

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.

18-19 course cost chart

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 2019 this amounted to a total of £9.6m.

18-19 investment chart