What each university’s budget looks like
■■ Cardiff University
On its website Cardiff University says it has an annual turnover of more than £600m. The 2020-21 financial year saw the university retain an operating surplus of £31m, an improvement on the previous year’s £14m figure. After adjusting for one-off items the total surplus for 2020-21 was £59m.
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Swansea University’s financial review 2021 showed that in the 2021 academic year it had income of £361m and spent £333m and ended the year with a £28m surplus.
Swansea University
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In its annual report and accounts for 2020-21 Aberystywth logged a £3.2m operating deficit, which it says is partly owing to loss of income, such as halls rent, during the pandemic.
“Prior to the Covid-19 pandemic the university’s five-year financial
Aberystwyth University
plan had forecast a moderate surplus for 2020-21. The impact of the operating conditions on performances is reflected in the underlying operating deficit of £3.2m.
“The pandemic has affected many areas of university operations, including refunded or lost student accommodation income and resultant rental underwriting obligations to third parties (£1.9m), deteriorating campus trading conditions across all areas including catering, sports facilities, arts centre and conferencing (£1.8m).
“Some costs savings were delivered because of reduced activity on campus, although these only partially offset losses.”
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Bangor’s annual report for 2020-21 said: “In the year to July 31, 2021, the university felt the significant impact of the coronavirus pandemic across all aspects of its activity. The shortfall
Bangor University
in student recruitment led to a reduction in tuition fees of £6.6m, of which £4.2m was a reduction in international student fees.
“Further evidence of the impact of the pandemic is the £2.8m reduction in residences, catering and conferences income. The reported deficit before tax for the year of £0.6m is affected by a number of factors during the year, including pension adjustments and the impact of the coronavirus pandemic.”
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In its annual report for 2020-21 the university says:
■■ Income has increased by 0.7% to £200.2m;
■■ Total expenditure fell by 2.5% to £194.4m.
■■ Operating surplus increased by £6.3m to £5.8m.
■■ Cash generated from operations increased by £36.6m to £59.3m.
■■ Net assets have increased by £20.7m to £75.4m.