Middlesex University
Financial Statements 2016/17
Financial Review for the year ended 31 July 2017
Results for the year
The year to 2016/17 reflects the strong performance of the University in terms of student recruitment, continuing investment and effective cost control and resulted in a consolidated surplus of £8.8m after allowing for restructuring costs of £0.8m.
Consolidated 2016-17
Results for the year Income
Expenditure
(excluding restructuring costs) Taxation and other items
Surplus on normal operations before one-off items
Staff restructuring costs
Statutory surplus for the year
£m 198.1 (188.5)
(0.0) 9.6
(0.8) 8.8
The underlying surplus of £9.6m represents 4.9% of total income showing that the University has made good progress towards its’ strategic aim of ensuring financial sustainability.
Surplus on Normal Operations £m
Surplus on normal operations before one-off item of staff restructuring costs
Surplus on normal operations before one-off item (Staff restructuring costs) & FRS102 conversion items of Net interest cost on LGPS pension liability and Staff holiday pay accrual
32
14 12 10 8 6 4 2 0
-2 -4
2016/17
Consolidated 2015-16
£m 189.2 (185.7)
(0.2) 3.3
(0.7) 2.6
2015/16
2014/15
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