Falmouth University Finance Figures 2020
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SEE HOW YOUR STUDENT FEES ARE SPENTF I NAN C E FIGU R E S 2020 TI-IE FALMOUTH& EXETER FALMOUTl-1 STUDENTS' UNION UNIVERSITY ' 1 Increasing the transparency of Falmouth University’s Financial Information This joint publication is prepared by the University and The Students’ Union, so that all students, staff and key stakeholders understand how Falmouth University generates revenues and how that money is spent. The figures used throughout this document are those for the 2018/19 financial year. It also shows how The Students’ Union spends the money it receives from its students and the University and includes details of the joint venture, Falmouth Exeter Plus. Falmouth University is a Higher Education Corporation and has charitable status. All surpluses generated are reinvested for the purposes of teaching and research. The Students’ Union is a registered charity, number 1145405. Over the past year Falmouth has been working closely with The Students’ Union and your Student Reps to understand whether you feel you are getting good value for money. By doing so, we have identified that we could be better at providing more information on additional course costs and are undertaking a review to work out how to do this, with the hope of saving students money, across the institution. “Students are increasingly aware of how their money is being used, thankfully our university is one of a few in the country that is able to be transparent about how it spends yours. It’s important to take the time to understand how your student fees are being spent as it allows you to decide if you feel you are getting the best value. In the case that you don’t feel your fees are being spent wisely make sure to speak to your Student Rep or directly with The Union so positive change can be made - Falmouth is always open to listening and learning.” Callie Edwards, The Students’ Union President, 2019/20 Contents 2 Key Facts 4 Income 6 Expenditure 8 Student Fees 12 Academic Departments 14 University Surplus 18 The Students’ Union Financial Transparency 22 Falmouth Exeter Plus 26 Financial Support FALMOUTl-1 UNIVERSITY 2-3 2018-2019 Key Facts Information based on the annual return to the Student Numbers Student Gender Staff Professions Higher Education Statistics Agency (HESA). 6,268 461 www.hesa.ac.uk 82% 18% 58% 41% 34% 66% 1% 5,162 - Falmouth 3,638 - Female 155 - Professional Services 1,106 - Partners 2,590 - Male 306 - Academic Departments (e.g. Academy of Contemporary 40 - Other Music, Fashion Retail Academy) Student Origins (Falmouth) Staff Numbers 6,268 461 86% 14% 49% 51% 5412 - UK 225 - Male 856 - International 236 - Female 4-5 Our Income & Expenditure Where our money comes from and what it is spent on 0% OTHER INCOME Income 0.2 M % . TOTAL INCOME 2 64.8 M RESEARCH GRANTS (for research projects % During the year income rose due to an increase undertaken by 6 in off-campus student numbers, fees from academic staff) GOVERNMENT partnerships and higher grant income. 1.0 M GRANTS (for teaching and research) . Where does 4.0 M Falmouth University’s money come from? % 10 INCOME FROM VENTURING (charges for services, % catering, Launchpad, etc) 82 6.5 M STUDENT FEES 53.1 M 6-7 Our Income & Expenditure Where our money comes from and what it is spent on Expenditure 49% TOTAL EXPENDITURE OTHER OPERATING 61.6 M EXPENSES e.g. teaching materials, premises costs, IT Higher costs were incurred on partnership costs, running costs, franchise fees, teaching materials and new bursaries, etc. building costs. 30.2 M What does Falmouth University spend its money on? 44% STAFF e.g. wages and salaries, staff taxes, pension costs, etc. 27.2 M 6% BUILDINGS + EQUIPMENT e.g. costs of construction / % acquisition, utilities, 1 maintenance, etc. , FINANCE COSTS 3.6 M Including interest. 0.6 M 8-9 Our Income & Expenditure Where our money comes from and what it is spent on TEACHING & RESEARCH £3,940 43% Lecturers, technicians, course admin, course materials ESTATES AND FACILITIES* Where does the student £1,630 17% Building running costs – maintenance, light, heat, power fee go each year if I am a ADMINISTRATION Home/EU Undergraduate? 15% Quality Office, Student Records, HR, Finance and Funding, £1,400 VC’s Strategic Support IT & AV SERVICES* Undergraduate Fees £730 8% IT support, including Education Technology MARKETING 5% Applicant Services, Sales, Events and Communications, £440 Ambassadors The adjacent information is based on BURSARIES the standard undergraduate fee for the year 3% Paid in cash to eligible students of £9,250. £320 LIBRARY AND ACADEMIC SKILLS* This amount is determined by the 3% Running costs for Penryn and Falmouth libraries and Government which sets a maximum fee that £290 related skills support the University can charge for UK and EU WELFARE* students. Other fees are reviewed annually 2% Counselling, living support, chaplaincy, etc and set against the cost of delivery, demand £170 and competitor information. RESIDENCES & CATERING Actual costs vary by course but the 2% Including subsidies for refectories and some £170 student accommodation University has targets such that all students get an equal service for the same fee. STUDENTS’ UNION Cross subsidisation between courses is 1% For full breakdown see page 18 minimal and all Academic Departments £100 have to be financially convergent over the CAREERS life of the University’s 2030 Strategic Plan. £60 1% Employability advice, placements, etc Note: for an International student, approximately Across the HE sector, income from International £1,000 is spent on additional recruitment costs students subsidises research activity – a necessary (included in Marketing and Bursaries) with another element to keep teaching up to date. £1,000 spent on additional support costs such as * the majority of support services are provided by our international admissions, visas, foreign exchange, etc. joint venture partner, Falmouth Exeter Plus. 10-11 Our Income & Expenditure Where our money comes from and what it is spent on TEACHING & RESEARCH £3,540 44% Lecturers, technicians, course admin, course materials ESTATES AND FACILITIES* Where does the student £1,460 18% Building running costs – maintenance, light, heat, power fee go each year if I am a ADMINISTRATION 16% Quality Office, Student Records, HR, Finance and Funding, Home/EU Postgraduate? £1,250 VC’s Strategic Support IT & AV SERVICES* Postgraduate Fees £660 8% IT support, including Education Technology MARKETING 5% Applicant Services, Sales, Events and Communications, £390 Ambassadors The adjacent information is based on LIBRARY AND ACADEMIC SKILLS* the standard full time campus-based 3% Running costs for Penryn and Falmouth libraries and postgraduate fee for the year of £8,000. £260 related skills support WELFARE* Actual costs vary by course but the 2% Counselling, living support, chaplaincy, etc University has targets such that all students £150 get an equal service for the same fee. RESIDENCES & CATERING 2% Including subsidies for refectories and some £150 student accommodation STUDENTS’ UNION £90 1% For full breakdown see page 18 CAREERS £50 1% Employability advice, placements, etc Note: for an International student, approximately Across the HE sector, income from International £1,000 is spent on additional recruitment costs students subsidises research activity – a necessary (included in Marketing and Bursaries) with another element to keep teaching up to date. £1,000 spent on additional support costs such as * the majority of support services are provided by our international admissions, visas, foreign exchange, etc. joint venture partner, Falmouth Exeter Plus. 12-13 Our Income & Expenditure Where our money comes from and what it is spent on 12% 12% % 2 4% 32% % 15 42% Academic Departments 22% % £ 3.4 M £ 2.9 M These charts show how each Academic Department 8 allocates its annual funding and primarily relate to the 7% 5% 19% Teaching & Research funds shown in previous pages. 14% 6% % % % 12 % 18 13 14 % 3 % % 4 37 7% 40% 13% 39% SCHOOL OF 17% 12% ENTREPRENEURSHIP 54% £3.1 M % £ 1.4 M 9% £ 2.3 M £ 3.2 M 17 % % 9 % 7 % 1 5 % % % % 4 6 14% 6 15% 5 18% 14% 15% 14% 14% 4% 3% % % 10 % 8 % 38 % 39 10 45% % % % 9 20 % 55 12 £ 1.7 M 7% £ 1.7 M £ 3.7 M £ 3.5M % 11% % 7 % % 5 % % 6 13 8% 2 5 2% 10% ■ Academic staff ■ Technical staff Management and Admin staff ■ Materials ■ Buildings Equipment ■ Bursaries 14-15 Our Income & Expenditure How we view value for money Why does Falmouth University make a surplus? A presentation on Value for Money (VFM) was made to Academic Board and the Students’ Union held focus groups to establish what Falmouth University is a charity whose purpose is teaching and VFM meant for students at Falmouth. This resulted in specific actions research. We need to cover our costs and investment needs to support such as the reduction of colour printing costs as well as an update students now and in the future. We plan to generate a surplus of to the additional costs of study on the web pages for each course; income over expenditure to afford investment needs, especially now although further work remains to done here to provide consistency that capital grants from the Government are no longer available. and, where possible, parity for all students. Recent investments include the acquisition and expansion of facilities Academic Board also considered a revised VFM statement for the Games Academy (£2m), Launchpad and the Creative Bridge summarising Falmouth’s approach to more directly align with the 2030 (£5m), IT network and resilience improvements (£2m) as well as £1 Strategy and seeking to articulate high-level and complementary value million spent each year on equipment across all areas.