University Council has now approved the University鈥檚 financial statements for the year that ended 31 July 2011. These have been published on the University website at site . We print a small number of paper copies and聽a printed copy can be obtained from Mark Shutler (mcs@soton.ac.uk).
The University produced a surplus for the year of 拢15.1 million on total turnover of 拢437 million (the surplus representing 3.5 per cent of turnover). This is a good result at a time when we have been seeking to make administrative savings to release more funding for academic activities and when we are anticipating severe reductions in the public funding of universities.
Under our budgetary rules鈥� faculties retain 100 per cent of the surplus earned above their budget targets and they have now developed plans for additional spending from the surpluses to invest in strategic priorities during 2011/12.
Despite the recent reductions in public funding鈥� the University is entering a period of very considerable change and challenge from a position of financial strength.
Sarah Pook
Director of Finance