Income
Income from tuition fees is our largest source of income, but it only makes up around half of our total income. The rest comes from grants from the Office for Students, research grants from UK Research and Innovation (UKRI) and the European Commission, and other income which includes things like accommodation and catering income, investments, and donations.
| Source of income | Income |
|---|---|
| Tuition fees | 拢205.9尘 |
| Funding council grants | 拢46.7尘 |
| Research | 拢45.0尘 |
| Residences, retail and catering operations | 拢43.8尘 |
| Donations | 拢1.5尘 |
| Other | 拢20.1尘 |
Expenditure
We use our income to pay for high-quality academic staff and provide facilities for research that has impact across the world.
Our expenditure also includes financing all the academic and student services that students use, including:
- the Library
- IT facilities
- student services
- teaching support
- sports and arts facilities
- bursaries and placements
- the buildings that all these services are housed in
We seek to achieve economy, efficiency and effectiveness in all our activities and this is embedded within our procurement and operating practices.
| What it is spent on | Expenditure |
|---|---|
| Academic departments | 拢139.4尘 |
| Academic services | 拢39.2尘 |
| Research | 拢30.4尘 |
| Premises | 拢55.1尘 |
| Residences, retail and catering operations | 拢45.2尘 |
| Professional services | 拢23.5尘 |
| Student and staff facilities | 拢18.8尘 |
| General educational activities | 拢21.8尘 |
| Other | (拢11.5尘) |
Surplus
| Financial statements 2022/2023 | |
|---|---|
| Income | 拢363.0尘 |
| Expenditure | 拢361.9尘 |
| Surplus before gains and losses | 拢1.1尘 |
In the 2022/23 academic year, we made a surplus of 拢1.1尘 as reported in our Annual Report & Accounts.
This year saw the completion of and opening of two major capital projects, a new School of Management on the Claverton Down campus and the IAAPS research facility on the Bristol and Bath Science Park.
In August 2022 we refinanced our European Investment Bank debt with a new 拢50m facility from the Pension Insurance Corporation. We also took this opportunity to close out our interest rate swaps. We continue to retain significant cash and investment balances in preparation for supporting future investments to support our Strategy and for the refurbishment of the original 1960s and 1970s buildings on campus. Operating cash inflows were 拢47.2m, we spent 拢21.9m on capital investments.
The result of these cash flows reduced our Net Debt by 拢31.5m to 拢14.3m, our cash and investment balances leave considerable scope for investment to support our new strategy.
Find out what your tuition fees pay for.