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Financial summary

Summarised financial statement 2014/15

Millions
Income 135.2
Expenditure 132.1
Surplus for year 3.1
Pension adjustment 2.6
Surplus for year exc. pension adjustment 5.7

Why does the University make an operating surplus?

  • To ensure that the University has sufficient resources available to invest in physical assets
  • The University recently opened the new £10m Student Centre on our Talbot Campus and a new £22m academic building also on our Talbot Campus is scheduled to open in May 2016
  • The University is also planning to deliver two new striking gateway buildings in Poole and Bournemouth
  • The University needs to ensure that there are adequate resources available to continue to invest in academic staff and the student experience
  • The University needs to remain financially sustainable in the long term and has adequate finance available to achieve the vision and values.

Where has the income come from over the last five years?

Millions
2010/11 2011/12 2012/13 2013/14 2014/15
Funding body grants 45.4 40.3 30.1 22.3 14.6
Tuition fees and education contracts 58.7 62.2 74.9 88.3 102.1
Research grants 3.1 3.0 3.1 3.4 3.6
Other operating income 13.4 11.0 11.8 14.2 14.7
Endowment and investment income 0.4 0.6 0.5 0.5 0.2
Total income 121.0 117.1 120.4 128.7 135.2

Where did the income come from in 2014/15?

Funding council grants 10.8%
Tuition fees and education contracts 75.5%
Research grants 2.7%
Other operating income 10.8%
Interest receivable 0.2%

Where was the money spent over the last five years?

Millions
2010/11 2011/12 2012/13 2013/14 2014/15
Staff costs 54.1 56.3 61.5 66.0 67.7
Depreciation 4.7 5.9 6.4 8.2 8.6
Other operating expenses 50.6 50.9 49.7 51.2 53.0
Interest payable 2.2 2.5 2.6 2.7 2.8
Total Expenditure 111.6 115.6 120.2 128.3 132.1

Where was the money spent in 2014/15?

Running academic faculties 43.7%
Providing library, IT and academic services 12.7%
Administration and central running costs 5.8%
Providing student bursaries and scholarships 3.5%
General education expenditure 4.4%
Providing staff and student facilities 6.8%
Maintaining buildings and facilities 11.6%
Providing residences and catering 6.7%
Undertaking research activities 2.8%
Pension adjustment and subsidiaries 2.0%

Running academic faculties expenditure split

Academic Staff costs 61%
Other staff costs 11%
Operating expenses 28%

General educational expenditure split

Fair access and widening participation 12%
Fundraising and Alumni 7%
Marketing and student recruitment 62%
International office 2%
Overseas exhibition costs 8%
Administration and subscriptions 9%