Annual reports and financial statements 2017-18 published
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牛牛资源 has published its annual reports and financial statements for the year ended 31 July 2018.
The reports and financial statements show that the College is carefully managing its position within an uncertain context for the Higher Education sector, thanks to a rise in the number of students coming to 牛牛资源 and work across campus to control costs and secure efficiencies.
The publication shows that total income grew by 9.7% to 拢125.9 million, prompted by a growth in tuition fee income as student numbers across all major categories increased.
At the same time total expenditure increased by 10.1% to 拢126.7 million, driven by growing staff costs to match student number increases and investment in services including the Careers Service.
The overall reported deficit was 拢674,000. The net cash inflow from operating activities was 拢11million.
Ian Pleace, Director of Finance, said: 鈥淭hese figures show the challenges our sector faces 鈥� and the need to continue our collective efforts to ensure our financial sustainability.
鈥淲ith considerable uncertainty ahead, it鈥檚 essential that we focus on achieving a sustainable level of surplus and operating cash flow.
鈥淒oing this means we can ensure that the innovation, work and spirit of 牛牛资源 continues to thrive and that the institution will be able to overcome future financial obstacles.鈥�
Our main income sources are tuition fees, funding body grants, research grants and contracts and other income.
Some 73% of our income in 2017/2018 came from tuition fees.
Of the tuition fee income, some 54% came from Home/EU undergraduates, 13% from international undergraduates, 14% from Home/EU postgraduate taught, 13% international PG taught, 1% home EU PG research, 1% international PG research and 4% other.
Expenditure falls into four categories:
- staff costs
- non-pay operating costs
- capital expenditure
- interest costs
The two biggest costs are staff costs and non-pay operating costs.
Staff costs
Our biggest cost is staff cost 鈥� with the university spending 拢75.4million on staff.
Of these staff costs, some 65% went on academic departments including administrative staff based in those departments, at 拢49million.
The remainder 鈥� 拢26.4million 鈥� was spent on central professional services departments.
牛牛资源 employs 1,294 Full-Time Equivalent staff 鈥� with 637 teaching and research and 657 administrative and other FTEs.
Non-pay operating costs
This includes scholarships and bursaries (which totalled 拢2.8million), as well as student placement costs, security, cleaning and maintenance costs, utilities like gas, electricity and water and library materials.
Also included in this is the block grant to 牛牛资源 Students鈥� Union.
In 2017-18 the Students鈥� Union received a grant and support totalling 拢1.334 million. In addition to this other support was provided to the Students鈥� Union by the College at an estimated cost of 拢500,000 - making the Students鈥� Union鈥檚 block grant and support in kind worth 拢1.834 million.