Financial Statements 2019/2020
contribution students and staff made to tackle the crisis, as well as to ensure they received the support they needed to play their full role in the recovery from the pandemic in the UK and beyond.
Ever since the University first opened its doors, professionals, academics and students have worked in collaboration. We are a values based university, united by a shared purpose to change society for the better through our research, our education and our network of partners. We build global communities – formed from a unique combination of practitioners, professionals, organisations, students and academics – to create collaborative advantage and achieve sector leading quality in what we choose to do. Looking back over the past year, there are some amazing examples of these partnerships. We have, for instance, continued collaborating with 17 partner academic institutions from 14 countries on the four-year multidisciplinary research project RECONNECT, which is aimed at understanding and providing solutions to the recent challenges faced by the European Union.
At Middlesex we apply knowledge and skills to create impact through our distinctive practice-orientated education, research and engagement. We empower our students to shape their own lives and the world around them and support them to becoming distinctive graduates who have benefitted from work centred learning. Our teaching is technologically- enhanced across all courses and is focused on influencing and changing the world locally, nationally and globally. We also believe that research should have a positive impact on the public realm, improving equality, diversity and inclusion in an authentic way and reaching disadvantaged or excluded groups. This year has seen Middlesex leading research on areas such as gender justice and security in the Middle East and South Asia, sustainability in fashion design entrepreneurship, the typography of online child sex abusers, and the real Living Wage.
We see technological innovation, creativity and entrepreneurialism as means to effect social change, and we believe that healthy lives and a sustainable environment are central to enhancing societal, organisational and personal achievements and wellbeing. For instance, this year we developed a mobile app for Youth Offending Teams to reduce risky behaviours and re-offending and we examined the educational environment, teaching methods and support that enable university teachers to ensure the inclusivity of LGBTQ+ students. In 2019/20 we also worked hard
to build a sustainable future and to reduce our footprint on the physical environment, for example emitting 16% less carbon (TCO2) compared with 2018/19.
Despite the challenges that lie ahead, we begin our next chapter with a renewed sense of confidence and ambition. The key purpose of our new strategy is to enable us to be a high performing community – by 2030 we should be internationally recognised and sector-leading in our chosen themes and in relation to the outcomes we can achieve. The issues we and our students are concerned with, such as diversity, social justice, innovation, health, sustainability and prosperity are so important that anything less than first class work on them is not good enough. Our innovative collaborative culture is central to how we will deliver our ambitions and we will make an impact on the challenges which influence societal wellbeing. We will also co-lead with our students to shape the future of our University and will foster entrepreneurial skills and mindset in all students to enhance prosperity and social value.
Looking ahead, in response to the impact of COVID-19 and the additional challenges for the sector, our financial approach must be one of caution and prudence. UK policy decisions and new levels of competition have also impacted negatively on our student recruitment and on our finances. In addition to the reported deficit for 2019/20 we expect to face a further deficit in 2020/21. The University aims to support the community in emerging from the crisis in a strong and confident position for the future and a careful management of our finances and cash flow in the next year will help us keep things as stable as possible.
I want to say a heartfelt thank you for our staff’s continuing commitment to our work as a University during some very difficult times. I am confident that we will keep looking out for each other and remain an integrated and innovative community, diverse in our backgrounds but united in our values and our ambition.
Professor Nic Beech Vice-Chancellor
Middlesex University
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