The University Financial Statements for the year ended 31 July 2010 have been approved and are available on the University website at http://www.soton.ac.uk/finance/central/FA2010.pdf.
The financial statements show a surplus of £8.5 million for the University on a turnover of £419 million. There was continued strong growth in income from student tuition fees (both international students and home/EU students) and external research grants and contracts grew by 9 per cent year on year. Total salary costs across the institution were little changed on 2008/09‚ a consequence of the low national salary award for staff‚ the effects of the 2009 voluntary severance scheme and continued tight controls on new staff appointments.
While we made capital investments of £50 million in the year (with the completion of the Life Sciences Building being the major project), we continue to hold historically high levels of cash.
These must be considered to be satisfactory financial results for the University, and we enter a period of turmoil in higher education funding in a much stronger position than we might have predicted three or four years ago.
A limited number of printed copies of the financial statements will be available in early 2011 – should you want one‚ please contact Mark Shutler in the Finance Department ([email protected]).
Malcolm Ace
Chief Financial Officer