www.thecourieronline.co.uk Monday 9 February 2015 Issue 1305 Free
6TheMUSIC FESTIVAL only preview you need for the biggest festival Tyneside’s ever seen p. 31
The Independent Voice of Newcastle Students
Est 1948
HIGH SEAS We review the best dishes
How video games are changing the way we treat disease p. 35
to treat your munchies on the Amsterdam ferry p.17
Where does your £9000 go? Uni publishes expenditure breakdown Disclosure follows SU Council call for greater transparency on fee use SU President: Students want assurance of value for money
By Charlie Dearnley News Editor Following the calls from the Students’ Union Council, the University has published a breakdown of its yearly income and expenditure, showing that student fees account for 41% of its income. At a Council meeting on Wednesday 5 February, a motion was unanimously passed that called for the University to publish financial information online. The information covers the income and expenditure for the fiscal year, and subsequently explains what students’ £9000 tuition fees are spent on, and how much of Newcastle University’s overall income they make up. For the fiscal year beginning 1 August 2013, and ending 31 July 2014, tuition fees make up the largest percentage of the University’s income constituting 41% of the overall income. Out of the £438,463,000 of income over the year, tuition fees account for roughly £179,876,000. The rest of the money comes from government funding grants, funding for research projects, income from residences and catering, and income from investments. The University’s investments only make up roughly 1.5% of their overall income, though this small statistic signifies £6,360,000. Newcastle University invests in a fund managed by BlackRock, this fund involving investments in tobacco, arms manufacturers, and oil. The income received from residences and catering account for all money made through halls of residence and private housing owned by the University, and any catering establishments and cafe’s owned by the University. 40% of the University’s expenditure is put towards running academic departments, this is largely concerned with paying the salaries of Academic
staff. £170,524,000 was designated in 2013,14 on running academic apartments. Running the University and maintaining the buildings and facilities together account for roughly 22% of the total expenditure. These costs include investment in and refurbishing teaching facilities, creating new buildings, and running campus security. Undertaking and doing academic research constitutes 20% of the year’s expenditure by itself, costing the University £80,004,000. Providing academic services accounts for 7% of the total expenditure, whilst residences and catering constitutes only 5%. 4% is taken up by other expenditure, a section in the published finances that totals £17,404,000. The total expenditure amongst many other things covers paying for teaching facilities, and buying resources such as books and journals for the Robinson Library. It also covers the cost of running student support services like the Careers Service, Student Wellbeing, the Sports Centre, and the Exams Office. Student and staff computing equipment and software are also included. It also covers the cost of administration and the salaries of the senior management team, including the Vice Chancellor and the Executive Team. The movement at Union Council asked for a monthly account of the University’s financial details, and although this was initially agreed, it was later amended to be annually in accordance with the University planning their finances on a yearly basis, meaning the income and expenditure doesn’t change between months. Claire Boothman, president of Newcastle University Students’ Union commented that, “As students are now paying a lot more for there tuition fees, £9000, they rightfully want assurance that they are getting value for money.”
20%
Academic research: £83,004,000
11% 11%
Running the University: £45,865,000
Other expenditure: £17,404,000 Maintaining buildings and facilities: £48,083,000
4%
7%
Providing academic services: £26,508,000 Providing residences and catering: £20,363,000 Running academic departments: £170,524,000
5%
41% Newcastle University’s expenditure for the fiscal year 1 August 2013 - 31 July 2014