The University of Southampton’s combined HEFCE teaching and research grant allocations for the year beginning 1 August 2012 will be £90.3 million. This is an overall reduction in funding of £8.4 million or 8.5 per cent on 2011–12.
Our teaching grant has been reduced by 18 per cent to £42.7 million‚ but our research grant has been increased by 2.5 per cent from 2011–12 to £44.7 million.
The reductions to the teaching grant are in line with our financial planning and the introduction of the £9‚000 tuition fee for new undergraduate students in September 2012. The increase to our research grant is very welcome and is a testament to our high quality research profile.
The University has successfully reduced its reliance on HEFCE funding by almost 10 per cent over the last five years – in the last financial year the HEFCE grant was 24 per cent of our income. This will continue to reduce as the teaching grant declines over the next three years in line with the new tuition fees reaching a steady state. HEFCE will then only be providing funding for new students in STEM subjects.
The University has fared relatively well through these grant reductions. Over recent years it has been ensuring that through its financial planning and management, it is well placed financially to deliver its strategic ambitions for education, research and enterprise.