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University income and expenditure

The University's income, expenditure and deficit for the 2022/23 academic year.



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 the European Commission, 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 £205.9m
Funding council grants £46.7m
Research £45.0m
Residences, retail and catering operations £43.8m
Donations £1.5m
Other £20.1m


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 economy, efficiency and effectiveness in all our activities and this is embedded within our procurement and operating practices.

A pie chart of University expenditure

What it is spent on Expenditure
Academic departments £139.4m
Academic services £39.2m
Research £30.4m
Premises £55.1m
Residences, retail and catering operations £45.2m
Professional services £23.5m
Student and staff facilities £18.8m
General educational activities £21.8m
Other (£11.5m)


Financial statements 2022/2023
Income £363.0m
Expenditure £361.9m
Surplus before gains and losses £1.1m

In the 2022/23 academic year, we made a surplus of £1.1m as reported in our Annual Report & Accounts.

This year saw the completion of and opening of two major capital projects, a new School of Management on the Claverton Down campus and the IAAPS research facility on the Bristol and Bath Science Park.

In August 2022 we refinanced our European Investment Bank debt with a new £50m facility from the Pension Insurance Corporation. We also took this opportunity to close out our interest rate swaps. We continue to retain significant cash and investment balances in preparation for supporting future investments to support our Strategy and for the refurbishment of the original 1960s and 1970s buildings on campus. Operating cash inflows were £47.2m, we spent £21.9m on capital investments.

The result of these cash flows reduced our Net Debt by £31.5m to £14.3m, our cash and investment balances leave considerable scope for investment to support our new strategy.

Find out what your tuition fees pay for.

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