University of York - Finances Presentation
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The document discusses the University's strong financial position in 2015, with record high trading surpluses, net assets, and cash levels. It notes that the University's main sources of income are tuition fees, research grants, and other income. However, it also discusses challenges on the horizon from changes to government funding, pensions, student number controls, and other factors. The University has identified key investment needs and areas it will address, such as planning for the impact of the general election and REF results, growing capacity through efficiency, overseas students, and research income.
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University of York - Finances Presentation
- 1. How the University is financed Achieving sustainable resilience and agility
- 3. Highest ever trading surplus Section 1 Current revenue position £14.7 M - 2015 -
- 4. £ £ £ £ £ £ 2010 2011 2012 2013 2014 2015 £7,537,0 00 £7,882,000 £5,786,000 £8,695,000 £10,474,000 £14,700,000 Section 1 Highest ever trading surplus – £14.7 million for 2015
- 5. Section 2 Where does our money come from? £M Budget £M Q1 Forecast £M Q2 Forecast £M 2014 – 15 Full YearPrior Year Tuition Fees 132.2 139.9 139.2 139.4 HEFCE Grants 48.8 41.7 41.6 41.6 Research Income 55.1 64.5 62.2 61.1 Other Income 69.3 87.7 92.2 92.3 Total 305.4 333.8 335.2 334.4 Staff Costs 166.0 178.5 178.0 176.9 Other Operating Costs 104.1 117.0 117.4 117.0 Depreciation 21.2 20.0 20.0 19.9 Interest 3.6 6.2 6.0 5.9 Total 294.9 321.7 321.4 319.7 Total Trading Surplus 10.5 12.1 13.8 14.7
- 6. Highest ever net assets Section 1 Current asset position £243.8 M - 2015 -
- 7. £ £ £ £ £ £ 2010 2011 2012 2013 2014 2015 £201,571,000 £218,247,000 £221,476,000 £239,090,000 £243,818,000 c£343,000,000 Section 1 Highest ever net assets – £243.8 million for 2015
- 8. Highest ever net assets Section 1 Current asset position £243.8 M - 2015 - Cash £24.0m £
- 9. Highest ever net assets Section 1 Current asset position £243.8 M - 2015 - Net current liabilities £9.3m £ Cash £24.0m £
- 10. Highest ever net assets Section 1 Current asset position £243.8 M - 2015 - Net current liabilities £9.3m £ Cash £24.0m £ £ Borrowings £146.1m
- 11. Highest ever net assets Section 1 Current asset position £243.8 M - 2015 - Pension liability £6.0m£ Net current liabilities £9.3m £ Cash £24.0m £ £ Borrowings £146.1m
- 12. Highest ever net assets Section 1 Current asset position £243.8 M - 2015 - Pension liability £6.0m£ Reserves£119. 6m£ Net current liabilities £9.3m £ Cash £24.0m £ £ Borrowings £146.1m
- 13. Section 1 Historical cost surplus as a percentage of income HEFCE Benchmark 0 1 2 3 4 5 6 York Sector mean Worst quartile 2012/13 2013/14
- 14. Section 1 Net liquidity days HEFCE Benchmark 0 20 40 60 80 100 140 York Sector mean Worst quartile 2012/13 2013/14 120
- 15. Section 1 Borrowings as a percentage of income HEFCE Benchmark 0 10 20 30 40 50 60 York Sector mean Worst quartile 2012/13 2013/14
- 16. Section 1 Net cash flow as a percentage of income HEFCE Benchmark 0 1 2 3 5 7 10 York Sector mean Worst quartile 2012/13 2013/14 9 8 6 4
- 17. Section 1 Staff costs as a percentage of income HEFCE Benchmark 50 51 52 53 54 55 57 York Sector mean Worst quartile 2012/13 2013/14 56
- 18. Section 1 Percentage of estate in condition C or D (2012 /13 only) HEFCE Benchmark 0 5 10 15 20 25 35 York Sector mean Worst quartile 2012/13 30
- 20. The University is in a strong position Section 1 Going into change Research Excellence Framework (REF) results
- 21. The University is in a strong position Section 1 Going into change Research Excellence Framework (REF) results Academic mix of disciplines
- 22. The University is in a strong position Section 1 Going into change Research Excellence Framework (REF) results New Heslington East campus Academic mix of disciplines
- 23. The University is in a strong position Section 1 Going into change Research Excellence Framework (REF) results New Heslington East campus Academic mix of disciplines New University Strategy
- 25. Section 2 Where does our money come from? £M Budget £M Q1 Forecast £M Q2 Forecast £M 2014 – 15 Full YearPrior Year Tuition Fees 132.2 139.9 139.2 139.4 HEFCE Grants 48.8 41.7 41.6 41.6 Research Income 55.1 64.5 62.2 61.1 Other Income 69.3 87.7 92.2 92.3 Total 305.4 333.8 335.2 334.4 Staff Costs 166.0 178.5 178.0 176.9 Other Operating Costs 104.1 117.0 117.4 117.0 Depreciation 21.2 20.0 20.0 19.9 Interest 3.6 6.2 6.0 5.9 Total 294.9 321.7 321.4 319.7 Total Trading Surplus 10.5 12.1 13.8 14.7
- 26. Debt and capital Total turnover Section 2 2003 0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 50m 100m 150m 200m 250m 300m 350m 400m 450m
- 27. Debt and capital Total turnover Cumulative capital spend Section 2 2003 0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 50m 100m 150m 200m 250m 300m 350m 400m 450m
- 28. Debt and capital Total turnover Cumulative debt Cumulative capital spend Section 2 2003 0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 50m 100m 150m 200m 250m 300m 350m 400m 450m
- 29. Debt and capital Total turnover Cumulative debt Cumulative capital spend HEFCE Debt threshold Section 2 2003 0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 50m 100m 150m 200m 250m 300m 350m 400m 450m
- 30. Surplus and cash Surplus Section 2 0 20m 40m 60m 80m 100m 120m 140m 160m -20m 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 20142003
- 31. Surplus and cash Surplus Operating cash flow Section 2 0 20m 40m 60m 80m 100m 120m 140m 160m -20m 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 20142003
- 32. Surplus and cash Surplus Operating cash flow Cumulative cash Section 2 0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 20m 40m 60m 80m 100m 120m 140m 160m -20m 2003
- 33. Other changes that will impact finance £ Section 2
- 34. VAT £ Other changes that will impact finance Section 2 £
- 35. VAT £ Other changes that will impact finance Pensions £ £ Section 2
- 36. VAT £ Other changes that will impact finance Pensions £ Control of student numbers £ £ Section 2
- 37. VAT £ Other changes that will impact finance Government funding£Pensions £ Control of student numbers £ £ Section 2
- 38. There will be a shift in the distribution of spend alongside cuts Section 2 What is going to happen to HE funding? Science and Research £4.6Bn HEFCE/RCs HE Living Cost Support £1.7Bn SLC HE Teaching £1.6Bn HEFCE Adult Further Education £1.2Bn SFA Adult Apprenticeships £0.8Bn SFA Other Adult Skills Programmes £0.5Bn SFA Further Education Living Cost Support £0.2Bn SFA All Other BIS £2.4Bn BIS £13.2 Billion
- 39. HE Teaching £1.6Bn HEFCE There will be a shift in the distribution of spend alongside cuts Section 2 What is going to happen to HE funding? Science and Research £4.6Bn HEFCE/RCs Adult Further Education £1.2Bn SFA Adult Apprenticeships £0.8Bn SFA Other Adult Skills Programmes £0.5Bn SFA Further Education Living Cost Support £0.2Bn SFA All Other BIS £2.4Bn BIS HE Living Cost Support £1.7Bn SLC £13.2 Billion
- 40. VAT £ Other changes that will impact finance Government funding£ Student fees£ Pensions £ Control of student numbers £ £ Section 2
- 41. Section 2 Growing dependency on income types 26% 29% 23% 22% 26% 30% 20% 24% 19% 37%17% 27%24% 32% 18% 26% 16% 42% 18% 24% 2010 2011 2012 2013 2014 Funding council Tuition fees Research grants Other
- 42. VAT £ Other changes that will impact finance Government funding£ Student fees£ Pensions £ Control of student numbers £ Overseas students £ £ Section 2
- 43. Section 2 80% Sector comparison Split of surplus per activity 60% 40% 20% 0% -20% -40% York Exeter Russell Group Sector Home/EU Overseas Research Other
- 44. VAT £ Other changes that will impact finance Government funding£ Student fees£ Pensions £ Control of student numbers £ £ Overseas funding Overseas students £ £ Section 2
- 47. Areas we are addressing Section 3 Impact of the general election and the outcome of REF
- 48. Areas we are addressing Section 3 Impact of the general election and the outcome of REF Planning and resources process
- 49. Areas we are addressing Section 3 Impact of the general election and the outcome of REF Planning and resources process Estates planning
- 50. Areas we are addressing Section 3 Impact of the general election and the outcome of REF Planning and resources process Estates planning Growing capacity