University of Reading publishes its 2016/2017 Financial Statements
Release Date 18 December 2017
The University of Reading has published its financial statements for 2016/17.
The headlines are as follows:
- Total income on operating activities: £288.8 million (down from £344.8 million last year, which included the sale of land in Shinfield West for £71.7 Million).
- Total expenditure on operating activities: £300.9 million (up from £288.7 million in 2015/2016).
- Total surplus, taking account of all aspects of the University’s activities: £692,000 (down from £64.5 million – see total income).
- Tuition fee income: Increased by £11.9 million following a record intake of UK and EU undergraduates for the 2016/17 academic year.
- Total research income received: Increased to £35.6 million from £32.7 last year.
- Annual alumni and supporter fundraising campaigns: a total of £2.8 million was raised.
- Consolidated net assets: Totalled £410.8m at 31 July 2017, compared to £397.3 million in 2016. (The increase against the previous year can be attributed primarily to gains on disposals and revaluations of investments and investment properties, plus the increase in other comprehensive income).
- Investments: Investments held by the University and its trusts are valued at £82.2 million.
University of Reading Vice Chancellor Sir David Bell said: “The University of Reading continues to have a world-class reputation for teaching, research and enterprise. Equally, all universities today are managing increased pressures generated by the volume and pace of change in a highly competitive environment. But with a solid financial position, and an ambitious strategy to take us through to our centenary year in 2026, we face the future with confidence.”
President of the University Council, Paul Preston, said: “As a result of more rigorous financial management and a real drive to reduce our costs, we are well equipped to deliver our capital investment programme and ensure that day-to-day academic and other services are of the highest quality.
“The 2026: TRANSFORM programme is driven by the University’s ambition to become a more vibrant and increasingly sustainable institution by our centenary year. It also has the central aim of improving campus facilities for current and future generations of students and staff.”
The full financial statement document is available as a PDF online here.