How we spend our income

Transparent summary of the different expenditure the University makes to underpin our high-quality education, research and innovation.

Seeing a breakdown of how the University spends its income is useful to show how strategic aims and key business needs are resourced. We aim to be transparent by detailing the different income sources and expenditure the University needs to make, to underpin our high-quality, internationally leading education, research and innovation. Students need to know what their fees are paying for, and by providing this financial context, we aim to show that value for money is core to our investment strategy.

How we spent our £ in 2020/21

Pennies per pound spent on:

60p on academic and related expenditure

This is the money that pays for lecturers, technical and support staff. It pays for the field trips, teaching equipment and services to support teaching and learning activity.

7p on research grants and contracts

University staff are awarded grants by research funders to spend on research activity, including staff time and equipment, which in turn informs our teaching.

8p on administration and central services

This is the spend that ensures the University runs day to day, providing the services and support necessary for a high-quality, supportive student experience in a sustainable university.

10p on premises

Our campus is home to our academic and research activities, so investment in buildings and spaces is key to enabling student and staff achievements.

1p on residence and catering

This is spend on student accommodation and food and drink provision on campus, supporting the comfort and wellbeing of our people.

6p on other income-generating activities

The University uses other funding streams where possible to bring money into the business, such as the hiring out of facilities and expertise.

8p on investments in our future

The University looks ahead to ensure we can deliver future ambitions, so investments are also made in activities, infrastructure and staff to support this.

Note: The expenditure excludes non-cash accounting adjustment pension charges of £20.4m and capital expenditure of £23.0m. Capital expenditure is included on the balance sheet and released to expenditure under investments in our future over the useful economic life of the buildings and equipment.

Income 2020/21

This chart summarises the key income streams for the University, with tuition fee income accounting for 61% of income.

£m

Tuition fees

£146.2m

Other income

£41.2m

Funding body grants

£35.3m

Research

£16.7m

Expenditure 2020/21

This chart summarises key expenditure required to enable the University to deliver high-quality, internationally leading education, research and innovation.