University of Sheffield. Understanding Finance

Transcription

1 University of Sheffield Understanding Finance

2 Where is the money from? Income in 2014/15 Total income: 574.9m

3 Our changing income mix 2009/ /19 and income Tuition fees and education Funding body and income Funding body Tuition fees and education Based on our existing forecasts which assume no change to the current home UG funding regime.

4 Grant income and 2014/15 income Funding body Tuition fees and education Grants HEFCE give Universities recurrent and non recurrent funds. Recurrent funding is the majority teaching grant (HEFCE T) research grant (HEFCE R) knowledge exchange. Non recurrent funding capital projects (eg Catalyst Fund) other development initiatives. Grants intended to be a contribution to our costs. HEFCE T derived formulaically and targets high cost subjects PG provision those from disadvantaged backgrounds Can spend most of this however we want unrestricted income

5 Grant income 2014/15 Grant income ( m) income Funding body and Tuition fees and education HEFCE: other HEFCE: teaching grant HEFCE: research grant

6 Fee income 2014/15 Fees and income Funding body Tuition fees and education The majority of our fee income relates to fees paid by students, either directly, or through agencies such as the Student Loan Company. Student Number Control Limits (SNCL) We also receive fee income in relation to training support accounts (doctoral training) and NHS education.

7 Fee income and 2014/15 income Funding body Tuition fees and education Home UGs Overseas students fee income Fee income ( m) Home PGs NHS education

8 income 2014/15 income and income Funding body Tuition fees and education A research award is the total value of an individual research contract. The income from each research award is the money that we have claimed from a sponsor for the work that has been performed to date. income relating to one research award will usually be shown as research income over several financial years, as the income is recognised over the life of the contract alongside related expenditure and overheads.

9 income 2014/15 income ( m) 200 income Funding body and Tuition fees and education 0 Councils Charities EU

10 income 2014/15 income and income Funding body Tuition fees and education income includes money from accommodation and commercial services (30%), services rendered (24%), health authorities (10%) and any other sources that are not classified as HEFCE, fees or research income (36%).

11 income and 2014/15 income Funding body Tuition fees and education income ( m) Services rendered Residences & commercial Health authorities

12 What is the money spent on? Expenditure in 2014/15 Total expenditure: 539.3m

13 Expenditure Total expenditure ( m) Staff costs operating expenses Depreciation Interest and other finance costs

14 Staff costs Staff costs as % of total income 55% 50% 45% 7,000 6,000 5,000 4,000 3,000 2,000 1,000 0 Staff FTEs Staff and student facilitiies Residences, catering and conferences Premises Central services Academic services Academic

15 Cash flow statement 60 Cash flows from operations ( m) University of Sheffield

16 Capital Total capital expenditure ( m)

17 Capital Capital expenditure by funding source ( m) HEFCE capital capital University funded

18 Operating surplus 8% 7% 6% 5% 4% 3% 2% 1% 0% Operating surplus as % of total income The University of Sheffield Minimum acceptable target Target

19 Operating surplus

20 Budget setting Starts with affordable forecast Faculties: resource allocation, PYAs, reserves Professional Services Shared costs Central Iterations Dialogue and communication