Financial Statements 2017/18
Income
Total income this year was £204.6m, an increase of £0.9m against the prior year. Last year’s figures included a one-off recognition of funding body capital grants relating to the new Ritterman building coming in to use (£4.9m), therefore this year’s figures represent a strong position given the increasingly competitive recruitment environment.
Income by source £m
180.0 160.0 140.0 120.0 100.0 80.0 60.0 40.0 20.0 0
Tuition fees and education contracts
Funding body grants
Research grants and contracts
Tuition Fees and Education Contracts account for 75% of the University’s total income. Of this, 68% relates to fees from home and EU Full Time Students. Despite a reduction in our target Undergraduate recruitment numbers, the impact of strong recruitment in the prior two years combined with an improvement in retention and improved postgraduate numbers has led to the income from this cohort of students increasing by 3%, once accounting for the movement of new Nursing students from the NHS contract to the tuition fee route.
Funding Body Grants represent 9.3% of total income, down from 10.6% in 2016/17. The decrease is largely due to the previously noted one-off release of capital grants in 2016/17. Our main recurrent teaching grant is at a similar level to last year.
Middlesex University Other income
(inc investment income, donations and new endowments)
Research Grant income remains at similar levels to last year, £5.3m (2.7% of total income).
Other operating income (including investment income and new endowments) totals £26.3m and represents 12.8%. This includes £3.3m received for the rental of rooms at Unite Olympic Way Hall of residence, where the University is acting as principal in the arrangement. The comparative year income has been restated to reflect a prior year adjustment of additional income of £5.5m. This is a grossing- up of both income and expenditure and does not affect the level of surplus (see Note 35a for more information).
2016-17 Restated 2017-18
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