Middlesex University
Financial Statements 2016/17
Vice-Chancellor’s Welcome
Middlesex is about transformation, empowering our students with the tools, attributes and opportunities to turn their potential into success. As a ‘University for Skills’, our distinctive practice-based learning and how we embrace the value and power of diversity have allowed us to build a distinctive reputation that combines academic rigour with meeting practical needs. We are proud to be ranked among the world’s top 500 universities and the top 150 under 50 years old.
Over 19,000 students study at our London campus, with almost a third coming from overseas. A further 20,000 students study for Middlesex awards with our partners in the UK, Europe, Africa, Asia and at our overseas campuses in Dubai, Mauritius and Malta. Diversity is one of our greatest strengths, and along with the rich cultural and international mix that Middlesex brings to our capital city, we generate over £300 million a year for the Barnet economy, and support 4,000 local jobs.
Middlesex is at an important stage in its history, embarking on a new strategy that seeks to tackle some of the most pressing issues of our time, from social mobility to the skills needed for economic success, especially as we head towards leaving the EU. At a time when universities are under intense scrutiny about value for money in an increasingly competitive environment, the strategy focuses on the importance of improving our rates of completion, graduate employment and student satisfaction.
We recognise that learners take different journeys through education and that more and more are likely to opt for choices such as apprenticeships. We are collaborating with employers to ensure that we offer these choices, developing higher and degree apprenticeships that complement our existing range of work-based programmes for which Middlesex is well known. As a levy payer itself, the University is committed to investing in its own workforce as well.
In July this year our Chair of the Board, Colin Hughes, stepped down after 10 years. Colin has been an outstanding Chair and was instrumental in helping Middlesex fulfil its role as a 21st century institution. Geraldine Proudler has now been elected to the role and will help guide the University as it embarks on its new strategy.
Our vision can only be realised through the passion and expertise of our staff and a commitment to our shared values. We are embarking on a review of our workforce to ensure that we have the roles and skills we need, while providing opportunities for development and progression, and ensuring our staff costs are aligned with our expected revenues and target surplus.
Our future will not just be down to us but to the many people and organisations with whom we collaborate. Our new strategy will guide the way we work together and unite us in a common purpose of transforming potential into success.
Professor Tim Blackman Vice-Chancellor
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