University Finances at a Glance 2021-22
Where our money came from in 2021-22
The University is a registered charity and our income comes from a wide variety of sources. Any surplus income generated in the year is reinvested back into improving facilities.
You can see the breakdown of where our income comes from below:
Income
|
INCOME |
YEAR ENDED 31 JULY 2022 (£’m) |
|
Tuition fees and education grants Our main source of income is tuition fees from UK undergraduate students. Fees are currently capped at £9,250 per annum funded by government supported student loans which are repaid when graduates earn above a certain limit. Other tuition fees include those for post graduate teaching and overseas students. |
200.4 |
|
Funding Body Grants OfS provide additional grants to help fund subjects that are more expensive to teach e.g. Science and Engineering and Research England provides research funding. |
21.2 |
|
Other Income This includes income from other sources, such as providing products including leisure facilities, undertaking consultancy work and provision of nursery services. It also includes notional income as the University underwrites the student rooms for the Peel Park residences run by Campus Living Villages, our third-party residence provider. There is a corresponding notional cost within expenditure. |
17.8 |
|
Research Grants and Contracts This includes research grants from UK and EU governments, other public sector bodies, charities and industry. |
6.8 |
|
Investment Income This is income earned on cash balances. |
0.7 |
|
Donations and Endowments Donations come from private and business donors |
1.0 |
|
TOTAL INCOME |
247.9 |
How we spent our money in 2021-22
At Salford we use our income to deliver teaching and learning, carry out research and undertake enterprise activities. Our vision of preparing students for life is at the core of all we do. This is achieved through collaboration with industry across learning, research and enterprise and enhancing employability activities.
Underpinning this is our commitment to student support and wellbeing services; continuing to improve our campus, wider environment and the student experience, including opportunities provided by the Students’ Union.
This requires investment in academic and support staff, facilities and equipment to create a vibrant learning environment.
All of this, we believe, leads to our students becoming unstoppable.
A breakdown of our expenditure, is shown below:
Expenditure
|
EXPENDITURE |
YEAR ENDED 31 JULY 2022 (£’m) |
|
Academic departments Academic departments provide postgraduate, undergraduate and any higher education award or credit bearing courses. They also undertake research, some of which is externally sponsored. |
87.1
|
|
Academic support This includes centralised academic services such as the library, learning resource centres, IT facilities, etc. |
34.4
|
|
Admin and student support This includes general educational expenditure and central administration costs including student assistance, marketing, human resources and finance. |
41.7
|
|
Estates costs This is the cost for the running and maintenance of premises (including academic buildings, central academic services, sports building etc.) and grounds (except residences and catering). |
35.5
|
|
Residences and catering This includes the notional cost of underwriting the student rooms for the Peel Park residences run by Campus Living Villages Ltd, our residence provider. It also includes any conference operations. |
11.2
|
|
Research grants and contracts These are costs incurred in provision of sponsored research activity. |
6.8
|
|
Other expenditure This includes interest payments and the costs associated with operating Salford Professional Development a University subsidiary company which delivers training, development programs and conferences to the public and private sector. |
9.2
|
|
Exceptional change in USS Deficit Recovery Plan This is Salford’s additional contributions that will be required over the period to April 2038 to make good our share of the deficit in the University Superannuation Scheme (USS) |
38.5 |
|
TOTAL EXPENDITURE |
264.4 |
As a university, we provide services and facilities to over 28,000 students, and employ 2,289 staff.
We’ve also continued to invest in our facilities, ensuring our students have access to industry-standard facilities and equipment. In 2021/22 we spent £14.6m on our IT services, working in line with our transformational One Digital Campus programme to grow our digital capabilities.
Our Students’ Union (USSU) is a separate registered charity run by students, for students. They provide all sorts of services; from an Advice Centre, to Sports Clubs and Societies, through to food, drink and events in the heart of campus at Atmosphere Kitchen and Bar. We provided a grant of £1.3m last year to support their work.
The implementation of the Campus masterplan continues with completion of the new £65m Science building for the Science, Engineering and Environment School as well as Energy House 2 (EH2) which is a major testing facility. The new £16m North of England Robotics Innovation Centre (Robotics) will be completed in the Autumn 2022 and will be operational in early 2023. EH2 and Robotics were both part funded by ERDF.
Key projects for development in the next phase of the Masterplan include: Greater Manchester Institute of Technology building, new Acoustics facility, new Salford Business School building, development of a Health quarter and new student residences which will be funded through a mixture of internal resources and grants.
Further information on the University’s income and spending can be found in our Integrated Report.