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 2016/17 (PDF).

Where the money comes from

£271.8m: The University’s total income for 2016/17

2016/17 was another year of solid growth, with total income rising by £12.3m (five per cent) to nearly £272m. 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.

    Breakdown of income

    Infographic of income

    Government funding grants

    This includes block grants from the Higher Education Funding Council for England (HEFCE) for teaching (£9.0m) and research (£14.9m).

    Student tuition fees

    This includes UK/EU undergraduate fees (£63.6m), fees for non-EU undergraduates and postgraduates (£25.6m and £20.9m respectively) and NHS funding for nurse training (£13.4m).

    Funding for research projects

    The largest single source is the UK Research Councils (£14.9m). Other significant sources are EU government bodies (£7.1m) and the industrial and commercial partners on the 5G Innovation Centre project (£6.4m).

    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 fees and other income generated by Surrey Sports Park, and income from the hire of University facilities.

    Research Park, donations and investments

    This includes £10.1m of gross rental income from properties on Surrey Research Park.

    Income facts and figures

    Did you know?

    • In 2016/17 Surrey Research Park generated gross rental income of £10.1m and contributed £5.0m (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 2016/17 were valued at £6.4m.
    • 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 2016/17 the University raised £3.1m in philanthropic donations. This included income from the Chancellor’s Appeal, launched in 2016/17 to mark the University’s 50th anniversary.

    Where the money goes

    £267.6m: The University’s total expenditure for 2016/17

    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.

    Breakdown of expenditure

    Breakdown of expenditure

    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 (£13.4m) and the library (£8.0m).

    Research project costs

    This comprises the salary costs of research staff, together with associated costs such as equipment and consumables. It includes £6.4m 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 2016/17 the University:

    • Spent £8.0m on the library and learning support services. Increased investment means the library is now open 24 hours a day, seven days a week
    • Distributed £3.7m in undergraduate bursaries, benefitting over 2,000 students
    • Provided funding of £0.6m for the Employability and Careers Service
    • Invested £0.7m in health and wellbeing and £0.2m in mentoring and wardens
    • Gave a grant of £1.1m to the Students’ Union

    The 2016/17 surplus for reinvestment was £4.2m.

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

    The University has invested heavily in its estate in recent years in order to increase capacity for academic work and improve the student experience. 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.

    The pace of capital investment increased significantly in 2016/17 as the University began construction of the next phase of student residences on the Manor Park campus, with capital expenditure for the year totalling nearly £50m.

    Did you know?

    The University began to develop its Manor Park student village in 2004. Since then, the University has invested £80m in the construction of 1,800 new student bedrooms (with a further £80m investment programme currently underway). In the same period, it has invested £40m in the refurbishment of existing student residences.

    Other major capital investments in the last 10 years have included:  

    • £36m in Surrey Sports Park (opened 2010)
    • £45m in the School of Veterinary Medicine (opened 2015)
    • £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)
    • £7.4m on the purchase of 30 Priestley Road which will become the new home for the School of Health Sciences (purchased 2016)
    • £12.5m in the Innovation for Health building (opened February 2017 and part funded by a £5m grant from the Higher Education Funding Council for England (HEFCE))

    During 2016/17 we drew down the £120m of private placement funds we secured in 2015/16. Of this, we’re using £80m to build the next phase of Manor Park student residences – 480 rooms to open in September 2018 and a further 670 in September 2019. The other £40m will be spent on strategic and transformational projects.

    If there is anything else you would like to see here please contact Ruth Anderson on

    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.