The University is open and transparent about where its money comes from and how it is spent. Each year, full audited accounts are published which show how much income was received, where it came from and what it was used for.

You can access the accounts for 2013/14 and for all previous years here.

Where did the university's money come from?

Total income for 2014/15 was just under £67m. The majority of this came from our students via tuition fees or was paid on their behalf by the NHS if they are on a Health programme.

Funding Council Grants are received from the Higher Education Funding Council for England or the National College for Teaching and Leadership which both distribute public money to universities. These grants mainly provide supplementary funding for resource intensive courses, such as those within science areas, which supports the University’s efforts to widen participation in higher education or which funds the small number of students who began their studies before 2012/13 when funding arrangements were changed by the Government.

How did the university spend its money?

In total, we spent £62m in 2014/15 and a further £5m was set aside for future investment in buildings, equipment, infrastructure and facilities. The chart below shows how, overall, we used each £1 received in 2014/15. 

Teaching and research and supporting activities

We spent £26m on providing teaching, learning and research including the salaries of the academic staff. A further £7m was used to directly support these activities through, for example, the provision of libraries and extensive student support arrangements as well as the crucial student record management, quality assurance and assessment systems and processes.

Facilities and equipment

To ensure that we have appropriate learning and other facilities and equipment, together with running costs such as gas, electricity and maintenance, £10.5m was spent. A further £3.0m was spent on providing the IT Services our students and staff benefit from.

Running the university

We are committed to being an excellent employer and to ensuring that we effectively monitor and plans our finances. We also take our obligations to comply with legislation in all areas of its operations seriously and we have put in place robust decision making and planning processes. These activities are often not very visible but are vital to ensuring that students have an excellent experience at a well-managed University. £9.6m was spent on these and other general running costs in 2014/15.

Student bursaries

£1.1m was paid to students to support them as they studied with us.

Accommodation and catering

We spent 1.8m on providing student accommodation and catering, including the purchase of food and drink, and the running of outlets.

Other expenditure

We spent £3.3m on a range of other costs including the interest on its bank loans and pension obligations.   

Set aside for investment

£5m was set aside for future investment in 2014/15. This is the University’s “surplus” and is the difference between its income and expenditure. The University is a charity and as such no dividend, bonus or other payment of profit is made. This money is used to reinvest in the University as it funds major investment in the learning environment, student accommodation, course equipment, IT systems and infrastructure and as it develops new and expanding course areas. This investment is evident across our campuses particularly with the recent completion of new laboratories and classrooms and upgraded facilities.

The surplus is therefore vital in allowing us to continue to achieve our primary aims of advancing learning and knowledge by teaching and research and enabling students to obtain the advantages of university education.