The following information is now available on our website:
We are today publishing our 2017-2018 financial statements and the first annual report of the Remuneration Committee.
Message from Professor Sir Christopher Snowden, President and Vice-Chancellor:
“As there has been heightened commentary in the media about the financial health of some universities, I’d like to take the opportunity to provide you with clarity on the University’s current financial position.
The University produced a strong financial performance during 2017-18 for which full credit belongs to the hard work and commitment of colleagues across the organisation. The financial prudence and robust financial management we have shown means we are prepared for the challenging times ahead. However, I recognise this hasn’t been easy and that some of you have made or been impacted by difficult decisions over the past year.
We are in a period of turbulence and uncertainty for UK higher education, which began with the dramatic reduction of direct government funding in 2012, the introduction of higher tuition fees, the withdrawal of capital funding and index-linked fees, and continues with Brexit and the major review of tuition fees currently underway. The Government has signposted clearly that it will not bail out universities in financial difficulty. In this changing environment we cannot afford to be complacent. We must continue to spend wisely, make savings where we can and manage our finances carefully to ensure our long-term financial stability.
Against a turbulent external backdrop, we continue to build momentum with our clear strategy that focuses on quality and providing the best possible experience for our students, a strategy which has resulted in rises in all national and international leagues tables this year. As our student numbers return for a period to the levels before the expanded 2015-16 intake, we all need to continue the effort that goes into recruitment, marketing, admissions and conversion this year as we seek to attract more high quality students, from the UK and internationally.
Thank you to the many colleagues who are making careful spending choices, including on day to day costs. Along with improving procurement processes, these small changes by a large number of colleagues are making a real difference to the University’s financial position.”
If you have any questions, please refer to the FAQ document in the first instance.
