The income from tuition fees is our largest source of income, but it only makes up around half of the total income of the University. The rest comes from grants from the Funding Councils, research grants and other income which includes things like accommodation and catering income.
|Source of income||Income|
|Funding council grants||£35m|
|Accommodation and hospitality||£30m|
We use our income to pay for the highest quality academic staff and provide facilities for research that has impact across the world.
Our expenditure also includes financing all the academic and student services that students use, such as the Library, IT facilities, student services, teaching support, sports and arts facilities, bursaries and placements as well as the buildings that all these services are housed in.
|Expenditure||What it is spent on|
|£48m||Academic and student services|
|£31m||Residences and catering|
|£15m||Central admin services|
In the 2015/16 academic year, the University made a surplus of £14m. As a charity, the University has no shareholders or owners that it has to pay money to.
All the surplus is re-invested to further improve the University, including investment in new buildings, refurbishment of old buildings and continuing investment in academic staff and facilities.
|Financial statements 2015/2016|
|Surplus before gains and losses||£14.1m|