Introduction
The University is open and transparent about where its money comes from and how it is spent. Our financial year runs from the 1st August to the 31st July and each year, we publish full audited accounts, showing how much income was received, where it came from and what it was used for. You can access the published accounts here.
Funding diagram.
Where Does The University’s Money Come from?
The University’s total income for 2023/24 was £78.3m, increased from £73.6m in 2022/23. The majority of this (73%) came from our students, their employers or sponsors, as payments for tuition fees.
A further 13% came from Government agencies that distribute public money to universities, including from the Office for Students and Research England. These grants have a range of purposes including providing supplementary funding for resource-intensive courses, such as those within healthcare and science areas, supporting the University’s efforts to widen participation in higher education and helping to fund research projects.
How Does The University Spend Its money?
Overall we spent £78.2m in 2023/24, an increase of £4.3m from the previous year. Excluding accounting adjustments relating to staff pension schemes, the value of the University’s land and buildings and release of capital grant funding, we generated a cash surplus of £3m, which is invested in buildings, equipment, IT, infrastructures and facilities.
How we used each £100 received
