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Sources of income – 2016/17
The University derives its income from a number of sources.
Tuition fees make up the largest proportion of income accounting for 57% of total income. We currently charge tuition fees of £9,250 per annum to home and EU undergraduates. We are also able to offer bursaries to students totalling around £2.1m.
Grants from funding bodies have reduced in recent years and now account for just 10% of our income.
The University has seen an increase in research funding and research activities resulting in nearly £36m income per annum. We also generate around £8m per annum from endowments and investments.
The University derives income from a number of other sources including catering outlets, conferences, executive education, the SportsPark and income derived from property holdings.
How we spend our money – 2016/17
The University spends around £152m each year on its academic schools and academic services such as the Library and IT services.
We make strenuous efforts to keep costs under control, particularly the amount we spend on administration and central services. A significant part of our expenditure goes towards maintaining the buildings on our campuses.
Around 53.5% of the University's costs are staff-related. Our overall expenditure increased in 2016/17 as a result of increased research activities, investment in equipment and the growth of our overseas activities. We remain focused on keeping costs under tight control however, and have begun to see the benefits of savings made as a result of the University’s efficiency and effectiveness review.
Investing in our estate
The University aims to provide a high-quality environment for its students and staff in which they can thrive. As well as maintaining the existing infrastructure, we believe it is important to invest in new first-class teaching, research and non-academic facilities to ensure that we continue to be one of the leading universities in the UK and internationally. A major refurbishment of the Library is currently underway and we are creating a new Health and Life Sciences complex.