Income

Income from tuition fees is our largest source of income, but it only makes up around half of our total income. The rest comes from grants from the Office for Students, research grants from UK Research and Innovation (UKRI), and other income which includes things like accommodation and catering income, investments, and donations.

A pie chart of University income

Source of income Income
Tuition fees £175m
Funding council grants £36m
Research £37m
Residences, retail and catering operations £32m
Donations £2m
Other £16m

Expenditure

We use our income to pay for high-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, including:

  • the Library
  • IT facilities
  • student services
  • teaching support
  • sports and arts facilities
  • bursaries and placements
  • the buildings that all these services are housed in

We seek to achieve value for money (VfM) in all our activities and securing optimum VfM is embedded within our procurement and operating practices.

A pie chart of University expenditure

What it is spent on Expenditure
Academic departments £116m
Academic services £25m
Research £26m
Premises £38m
Residences, retail and catering operations £37m
Professional services £16m
Student and staff facilities £14m
General educational activities £22m
USS pension provision £32m
Other £15m

Surplus

Financial statements 2018/2019
Income £298m
Expenditure £277m
(Deficit) before gains and losses (£21m)

In the 2019/20 academic year, we made a surplus of £21m as reported in our Annual Report & Accounts. This was after a one-off benefit of £32m for a decreased USS pension provision which would have resulted in a deficit of £11m.

It's important to remember that the University is a charity; it has no shareholders or owners that it has to pay money to. All the surplus is reinvested to further improve our University. We need to make a surplus so that we can pay for new buildings and for the refurbishment of the older buildings as well as to continue to invest in our academic staff and facilities to improve the experience of our students and other stakeholders.

Find out what your tuition fees pay for.