About the University of Surrey

Financial Statements

Explore the University of Surrey’s Financial Statements, which explain where our money comes from and how we spend it. Download the full University of Surrey Financial Statements 2015/16 (PDF). Alternatively, you can read the Financial Review on pages 30 to 31 of the 2016 Annual Review (PDF).

Where the money comes from

£259.5m: The University’s total income for 2015/16

Driven by additional student numbers, total income rose by eight per cent in 2015/16 to nearly £260m.  

The University’s income is generated from a variety of sources. Tuition fees represent approximately 50 per cent of the University’s total income. A further 26 per cent comes from government funding grants and research funding, with the balance accounted for by income from other sources including accommodation fees, Surrey Sports Park and income generating assets including Surrey Research Park. 


Additional information: income sources

Government funding grants

This includes block grants from the Higher Education Funding Council for England (HEFCE) for teaching (£8.1m) and research (£14.6m).

Student tuition fees

This includes UK/EU undergraduate fees (£54.0m), fees for non-EU undergraduates and postgraduates (£24.5m and £23.2m respectively) and NHS funding for nurse training (£14.7m).

Funding for research projects

The largest single source is the UK Research Councils (£12.5m). Other significant sources are EU government bodies (£7.5m) and the industrial and commercial partners on the 5G Innovation Centre project (£7.6m).

Residences income

This comprises mainly accommodation fees for the c. 5,000 students housed in residences on the Stag Hill and Manor Park campuses and at Hazel Farm.

Catering income

This comprises income from catering facilities on both the Stag Hill and Manor Park campuses - Hillside, Wates House, Lakeside Restaurant & Coffee Bar, Starbucks, thEATre, Heart + Soul, and the Bench Bar at Surrey Sports Park.

Other income (including Sports Park)

This includes income generated by academic departments from consultancy and other activities, membership and other income generated by Surrey Sports Park, and income from the hire of University facilities.

Research Park, donations and investments

This includes £10.5m of gross rental income from properties on Surrey Research Park.

Income facts and figures

Did you know?

  • In 2015/16 Surrey Research Park generated gross rental income of £10.5m and contributed £5.4m (after running costs) to University finances. The total contributed to University finances since the Park's inception in 1985 is more than £100m.
  • The 5G Innovation Centre (5GIC) programme is attracting significant in-kind contributions from industrial partners for the development of research services and capacity. Contributions in 2015/16 were valued at £7.6m.
  • Philanthropic donations make a real difference to the experience and opportunities we can provide to students, as well as to the breadth and impact of our research. In 2015/16 the University received more than £2.5m from philanthropic donations. This included income from the Annual Fund which, in 2015/16, funded 18 projects ranging from the purchase of sports equipment to the provision of student hardship grants. For more information see Supporting Surrey 2015/16 (PDF).

Where the money goes

£258.6m: The University’s total expenditure for 2015/16

Tuition fees pay for far more than time spent in lectures and seminars. The value of the Surrey experience comes from the quality of the teaching and learning experience, and from the many and varied facilities and opportunities available to support students during their time at university and to equip them with the knowledge and skills to succeed in their future careers.

Additional information: areas of spend

Academic departments

This covers all expenditure relating directly to academic departments. It includes the cost of academic staff, course materials and laboratory running costs.

Academic services

The main areas of spend are IT (£11.8m) and the library (£7.6m).

Research project costs

This comprises the salary costs of research staff, together with associated costs such as equipment and consumables. It includes £7.6m of costs (fully matched by income) relating to the 5G Innovation Centre programme.

Residences, catering and conferences

This includes salaries and other expenditure directly attributable to student residences, catering facilities and conferences. It includes the costs of repairs and maintenance, depreciation of buildings and equipment, and interest on monies borrowed to build the student residences.

Premises costs

This comprises costs relating to the management of all University buildings (except residences and catering facilities), plus the costs of maintaining the grounds. It includes running costs such as energy and utilities, rates, insurance and cleaning, plus building repairs and maintenance and depreciation. It also includes interest on monies borrowed to build the Surrey Sports Park, Vet School and properties on the Surrey Research Park.

General educational expenditure

This includes the costs of bursaries and scholarships and widening participation activity. It also includes expenditure on student recruitment and examinations.

Student and staff facilities

This includes expenditure on the careers service and the Wellbeing Centre, grants to the Students' Union and running costs of Surrey Sports Park.

Central services and administration

This includes the cost of departments such as Student Administration, Finance and Marketing & Communications.

Other costs

This includes running costs for Surrey Research Park (other than interest on borrowings) and services to third parties (matched by income), as well as a number of technical adjustments (e.g. relating to pension provisions).

Expenditure facts and figures

Did you know?

In 2015/16 the University:

  • Spent £7.6m on the library and learning support services. Increased investment means the library is now open 24 hours a day, seven days a week
  • Distributed £4.1m in undergraduate bursaries, benefitting nearly 2,000 students
  • Provided funding of £0.7m for the Employability and Careers Service. Surrey is consistently one of the top-performing universities in HESA’s Destination of Leavers in Higher Education Survey with more than 95 per cent of leavers in work and/or further study six months after graduation
  • Invested £0.6m in health and wellbeing and £0.2m in mentoring and wardens
  • Gave a grant of £1.1m to the Students’ Union

Reinvestment of University surplus

The 2015/16 surplus for reinvestment was £0.9m.

The University is a not-for-profit organisation with charitable status. All surpluses are reinvested back into the University to improve the physical estate, to develop our academic activities and to enhance our services.

Capital investment

The University has an ongoing programme of investment to provide the facilities needed to deliver a first-class student experience and deliver high-quality research. This includes investment in new buildings and equipment, as well as the refurbishment of existing facilities such as lecture theatres, teaching rooms and social spaces.

Did you know?

The University’s Manor Park campus has seen more than £150m of investment since construction of the first phase of the Manor Park student residences began in 2004.

  • £70m in new student accommodation
  • £36m in Surrey Sports Park (opened 2010)
  • £45m in the School of Veterinary Medicine (opened 2015).

Capital investment in the Stag Hill campus during the last ten years has included:

  • £16m in the Library & Learning Centre
  • £12m in the Guildford School of Acting Building and Ivy Arts Theatre
  • £10m in the 5G Innovation Centre Building (opened 2015 and fully funded by a grant from the government’s UK Research Partnership and Investment Fund)
  • £12.5m in the Engineering for Health Laboratory (opening February 2017 and part funded by a £5m grant from the Higher Education Funding Council for England (HEFCE))

2016 capital investments included:

  • Nearly £4m on the annual residences refurbishment programme.
  • £0.6m on the re-modelling of Wates House to provide improved catering facilities
  • £0.5m on the refurbishment of library study spaces

Financing future investment

In May 2016 the University successfully closed a private placement deal providing £75m of funding for new student accommodation and £45m headroom for investment in support of the University’s strategic goals.

Previous years' financial statements

Further information

If there is anything else you would like to see here please contact Ruth Anderson on r.anderson@surrey.ac.uk

If you would like to know more about how universities spend their money and how this benefits students, please visit the interactive explainer on the Universities UK website.