Falmouth University Finance Figures 2019-2020

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SEE HOW YOUR STUDENT FEES ARE SPENT

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FALMOUTH UN IVERSITY

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The cost of COVID-19 Outgoings in summary Key facts Income Expenditure Student fees Academic departments The Students’ Union Financial Transparency Falmouth Exeter Plus Financial support

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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 2019/20 financial year with the exception of the opening pages on Covid costs and the impact of the global pandemic on the University between March 2020 and March 2021.

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.

The University and Students’ Union agreed that it was important to recognise the financial impact of Covid on the institution which have been significant and have meant that fee income has been spent in responding to this event.

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.

The cost of COVID-19 As the UK headed towards lockdown in Spring 2020, the University made swift and signifcant measures to ensure the safety of staf and students, to mitigate the impact for those directly and indirectly afected by COVID -19 and to create the best possible student experience in unprecedented circumstances.

Waiving accommodation rent

Blended and online delivery

Dedicated support

The University has heavily invested in technology to accelerate the development of digital platforms and create high quality digital learning experience where students can continue their studies online. To support the shift to remote delivery and the production of new asynchronous digital content, the University employed the use of Digital Interns.

Our Living Support Team carried out welfare outreach calls to around 470 students who remained in the local community during lockdown. This enabled us to understand if students had any welfare issues, and to then provide advice, solutions and regular check-in calls where needed.

In addition, signifcant investment has been made to ensure that the university’s two campuses are as COVID -safe as possible and to facilitate the use of specialist and technical spaces when government guidance allows.

Adapting student assessments Student assessments were revised to ensure that they could be undertaken online, removing the need for access to physical resources while increasing access and availability of online resources. Both the redesign of assessment and the adjustment of marks were undertaken in discussion with the University’s external examiners to ensure that the right balance was achieved between supporting students and maintaining academic standards.

Extending the University’s Financial Hardship Fund We extended and extensively promoted the University’s Financial Hardship Fund availability to support students adversely afected by the pandemic and the move to remote learning. In total, £100,000 of funds were provided to students to help facilitate remote learning and cover the cost of tech such as laptops, smartphones and other course-specifc equipment. As part of our commitment towards access and participation, we are also working on a collaborative project to evaluate the efectiveness of the fund and how we can provide the best support to our students.

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We waived rent for all University-owned and managed accommodation from Study Block Three for a total of seven weeks.

Support for students included food packages, medicine and meal deliveries, as well as signposting to resources like mental health and study support.

Online support services All of the University’s specialist support services, including Living Support, Wellbeing Support, ASK:Academic Skills, language classes and the Multifaith Chaplaincy, successfully moved online in the spring and, as a consequence, have seen engagement with booked sessions increase signifcantly and an improvement in the service’s efciency. The pandemic has also enabled us to accelerate digital services provision and we have launched two new initiatives to support wellbeing and resilience as a result.

In fnancial terms, the following key investments, made in conjunction with partners Falmouth Exeter Plus (FX Plus) and the University of Exeter, total just under £3 M:

Total investment Rent waiver for students in University Accommodation for the Summer Term 2020

£1,000,000

Rent waiver for students in University Accommodation for seven weeks in Spring 2020

£800,000

Enhanced cleaning across campuses

£300,000

Campus works to make COVID -Safe (signage, marquees, temporary toilets, etc)

£300,000

Converting content to online (inc digital interns)

£250,000

Rapid Response Team

5,000 free Adobe licences for home use

£200,000

Over the summer period, the University worked extensively with its delivery partner and other stakeholders to introduce a Rapid Response Team to support the implementation of a private COVID -19 testing contract and support for students self-isolating. This included information on practical help and support (including hot food and/or grocery deliveries, postal deliveries and medical supplies), a referral and signposting process to Student Support Services, and a wellbeing assessment.

Digital hardship fund and temporary loan IT equipment

£100,000

Students’ Union activities The Students’ Union also adjusted its activities so that engagement continued throughout the COVID -19 lockdown, with online activities and events, as well as an online forum event attended by more than 40 groups to approve new societies.

Signifcant progress is now being made on developing digital solutions to support students over the next year and beyond, including a 2020 Welcome Microsite, a Virtual Welcome Fayre, improved digital democracy systems and streamlined student processes.

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The cost of COVID-19

TOTAL

£2,950,000

Outgoings in summary

Buildings and equipment 3.9M

Our charity status Falmouth University is a charity whose purpose is teaching and research. We need to cover our costs and investment needs to support students now and in the future. We plan to generate a surplus of income over expenditure to aford investment needs.

6% Other expenses* 26.7M

45%

Staff 28.9M

COVID 2.9M

SU Grant 0.6M *e.g. teaching materials, premises costs, IT costs, running costs, bursaries, welfare etc.

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Finance 0.6M

5% 1%

1%

42%

Recent investments include Launchpad and the Creative Bridge (£5m), the Collaborative Link and Knowledge Vault at Penryn (£1m), the construction of shared academic and social spaces at Penryn (£2.2m), IT network, replacement and security (£2m), plus £1 million spent each year on equipment across all areas.

“I highly commend the fnance transparency that Falmouth provides us with every year, because it really does give students an understanding to how their money is spent. I feel that this year, in particular, has been an obscure year to say the least. Money has been the forefront of students mind, and a document that openly expresses where their money has been used to keep students safe, and adapt to the circumstances, is very honest and admirable. If you have any comments or concerns regarding how your money is being spent, please communicate it to your student reps or straight to the Union.”

Lizzy Marshall, Falmouth President, 2020/2021

2019-2020

Key facts Information based on the annual return to the Higher Education Statistics Agency (HESA). hesa.ac.uk

Student numbers 6,212

79%

4,887 - Falmouth 1,325 - Partners

21%

(e.g. Academy of Contemporary Music, Fashion Retail Academy)

Student gender

Staff professions

58%

35%

41%

1%

3,591 - Female 2,558 - Male 63 - Trans, non-binary, other or not specified

Student origins (Falmouth) 6,212

86%

5,316 - UK 896 - International

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14%

480

65%

166 - Professional Services 314 - Academic Departments

Staff numbers 480

48%

233 - Male 247 - Female

52%

Our income and expenditure

Where our money comes from and what it is spent on

0% 62.3 M Income decreased through lower tuition fee receipts, primarily from on-campus courses, lower research grant income and redcutions in other income following the closure of our campuses in response to the COVID-19 pandemic.

1% RESEARCH GRANTS

7%

Research projects undertaken by academic staff 0.7 M

GOVERNMENT GRANTS

Where does Falmouth University’s money come from?

82% STUDENT FEES 50.8 M

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0.2 M

.

TOTAL INCOME

OTHER INCOME

Teaching and research 4.3 M

10% INCOME FROM VENTURING

Charges for services, catering, Launchpad, etc.

6.3 M

.

Income

Our income and expenditure

Where our money comes from and what it is spent on

48%

Expenditure TOTAL EXPENDITURE

OTHER OPERATING EXPENSES

63.8 M

E.g. teaching materials, premises costs, IT costs, running costs, bursaries, etc.

30.4 M

Overall costs rose during the year with staff costs increasing due to pay award and pension increases together with the cost of summer term rent waiver for University Owned and Managed Accommodation.

This was partly offset by lower expenditure on bursaries and estates running costs.

What does Falmouth University spend its money on?

45% STAFF

E.g. wages and salaries, staff taxes, pension costs, etc.

28.9 M

6% 1%

FINANCE COSTS 12

Including interest 0.6 M

BUILDINGS AND EQUIPMENT

E.g. costs of construction / acquisition, utilities, maintenance, etc. , 3.9 M

Our income and expenditure

Where our money comes from and what it is spent on

Where does the student fee go each year if I am a home/EU undergraduate?

Undergraduate fees

The adjacent information is based on the standard undergraduate fee for the year of £9,250.

This amount is determined by the Government which sets a maximum fee that the University can charge for UK and EU students. Other fees are reviewed annually and set against the cost of delivery, demand and competitor information.

Actual costs vary by course but the University has targets such that all students get an equal service for the same fee.

Cross subsidisation between courses is minimal and all Academic Departments have to be fnancially convergent over the life of the University’s 2030 Strategic Plan.

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£3,850 £1,490 £1,380 £730 £590 £430 £290 £180 £150 £100 £60

TEACHING AND RESEARCH

41% Lecturers, technicians, course admin, course materials

ADMINISTRATION

16% Quality Office, Student Records, HR, Finance and Funding, Vice-Chancellor’s Strategic Support

ESTATES AND FACILITIES*

15% Building running costs – maintenance, light, heat, power

IT AND AV SERVICES*

8% IT support, including Education Technology

MARKETING

6% Applicant Services, Sales, Events and Communications, Ambassadors

RESIDENCES AND CATERING

5% Including subsidies for refectories and some student accommodation

LIBRARY AND ACADEMIC SKILLS*

3% Running costs for Penryn and Falmouth libraries and related skills support

WELFARE*

2% Counselling, living support, chaplaincy, etc.

BURSARIES

2% Paid in cash to eligible students

STUDENTS’ UNION

1% For full breakdown see page 18

CAREERS

1% Employability advice, placements, etc.

Note: for an International student, approximately £1,000 is spent on additional recruitment costs (included in Marketing and Bursaries) with another £1,000 spent on additional support costs such as international admissions, visas, foreign exchange, etc.

Across the HE sector, income from International students subsidises research activity – a necessary element to keep teaching up to date. * the majority of support services are provided by our joint venture partner, Falmouth Exeter Plus.

Our income and expenditure

Where our money comes from and what it is spent on

Where does the student fee go each year if I am a home/EU postgraduate?

Postgraduate fees

The adjacent information is based on the standard full time campus-based postgraduate fee for the year of £8,000.

Actual costs vary by course but the University has targets such that all students get an equal service for the same fee.

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£3,390 £1,310 £1,210 £640 £520 £380 £250 £160 £90 £50

TEACHING AND RESEARCH

42% Lecturers, technicians, course admin, course materials

ADMINISTRATION

16% Quality Office, Student Records, HR, Finance and Funding, Vice-Chancellor’s Strategic Support

ESTATES AND FACILITIES*

15% Building running costs – maintenance, light, heat, power

IT AND AV SERVICES*

8% IT support, including Education Technology

MARKETING

7% Applicant Services, Sales, Events and Communications, Ambassadors

RESIDENCES AND CATERING

5% Including subsidies for refectories and some student accommodation

LIBRARY AND ACADEMIC SKILLS*

3% Running costs for Penryn and Falmouth libraries and related skills support

WELFARE*

2% Counselling, living support, chaplaincy, etc.

STUDENTS’ UNION

1% For full breakdown see page 18

CAREERS

1% Employability advice, placements, etc.

Note: for an International student, approximately £1,000 is spent on additional recruitment costs (included in Marketing and Bursaries) with another £1,000 spent on additional support costs such as international admissions, visas, foreign exchange, etc.

Across the HE sector, income from International students subsidises research activity – a necessary element to keep teaching up to date. * the majority of support services are provided by our joint venture partner, Falmouth Exeter Plus.

Our income and expenditure

Where our money comes from and what it is spent on

2% 15%

Academic departments

27%

11%

2%

SCHOOL OF ENTREPRENEURSHIP

45%

16%

£1.0 M

4%

4% 6%

SCHOOL OF ARCHITECTURE , DESIGN& INTERIORS

45%

16%

15%

■ Academic staff

£ 3.9 M

47%

9%

SCHOOL OF FILM& TELEVISION

£ 3.5M

■ Technical staff

3% 4%

11% 59%

INSTITUTE OF PHOTOGRAPHY

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£ 3.3 M

8% 6%

9%

21%

7% 7% 5% 18

3%

18%

13%

41%

£ 2.2 M

20%

13%

SCHOOL OF COMMUNICATION

14%

GAMES ACADEMY

4% 6%

13% 5% 5% 6%

£ 1.4 M

33%

£ 2.7 M

11%

1%

2%

10%

23%

14%

11%

11% FASHION & TEXTILES INSTITUTE

£ 3.5 M

7%

12% <1%

15%

3% 47%

5%

These charts show how each academic department allocates its annual funding and primarily relate to the teaching and research funds shown in previous pages.

1%

10%

43%

£ 3.7 M

8% 5%

9%

Management and admin staff

Materials

13% Buildings

Equipment

Bursaries

41%

Our income and expenditure

Where our money comes from and what it is spent on

49%

The Students’ Union Financial Transparency

FALMOUTH UNIVERSITY £640K

The Falmouth and Exeter Students’ Union is a registered charity acting as the joint students’ union for Falmouth University and the University of Exeter in Cornwall.

TOTAL INCOME £ 1.3 M

20% ACTIVITIES

£257 K

Funds raised by student led clubs, societies and groups and income from the minibuses.

The Students’ Union manages the funds and accounts on behalf of its groups

2% OTHER £31 K

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Where does The Students’ Union’s money come from?

29% UNIVERSITY OF EXETER

£380 K

Our income and expenditure

Where our money comes from and what it is spent on

The Students’ Union Financial Transparency

6%

7%

8%

9%

29%

42%

ADVICE SERVICE

STUDENT VOICE DEPARTMENT

GOVERNANCE

COMMS AND RESEARCH

CENTRAL COSTS

STUDENT OPPORTUNITIES

£6 per student

£7 per student

£8 per student

£9 per student

£28 per student

£42 per student

Funding two professional advice workers opening cases for student clients throughout the year.

Support and training for student reps, research and insight work, support better engagement of nontraditional students and staff costs.

Employment of four full time Presidents as Trustees of The Students’ Union.

This is the cost to put on all the Freshers events on campus.

This includes all travel costs, insurances, training, depreciation, bank charges and staff to run the central support.

Supported student clubs, societies, volunteering and other student activities.

£77,000

TOTAL EXPENDITURE £1.3M As a service based organisation, the vast majority of The Students’ Union expenditure is used for stafng costs to run the many services delivered to students.

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£99,000

£93,000

£110,000

£348,000

£519,000

Our income and expenditure

Where our money comes from and what it is spent on

28%

Falmouth Exeter Plus Transparency

INCOME FROM STUDENT RESIDENCES

1%

TOTAL INCOME 29.4 M

OTHER INCOME

Falmouth Exeter Plus (FX Plus) is the organisation jointly owned with the University of Exeter to provide services on the Falmouth and Penryn campuses.

Where does the money come from for Falmouth Exeter Plus?

FX Plus is a limited company with charitable status and spends any surplus on the students and staf of the two institutions.

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%

FALMOUTH UNIVERSITY 11.3 M

E.g. DSA income, car park income, etc.

0.4 M

11% OTHER CAMPUS SERVICES

E.g. catering, retail, bar, print, nursery etc.

3.2 M

21% UNIVERSITY OF EXETER

6.2 M

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.

E.g. student rent and summer letting income 8.3 M

Our income and expenditure

Where our money comes from and what it is spent on

45%

Falmouth Exeter Plus Transparency

TRADING ACTIVITIES

5%

TOTAL EXPENDITURE 32.7 M

STUDENT SERVICES

FXPlus spent more than it earned by drawing on reserves brought forward.

1.6 M

How does Falmouth Exeter Plus spend its money?

11% LIBRARY AND ACADEMIC SKILLS

3.6 M

28% PROPERTY AND MANAGEMENT SERVICES 9.2 M

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11% IT AND AV SERVICES 3.5 M

.

E.g. catering, bar, retail etc.

14.8 M

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Financial support Falmouth University employs a Student Funding Team and The Students’ Union has a team of advisers who operate across both campuses and are available to provide advice and support on student money matters. The Students’ Union also holds funds to support student-led activities.

Student support ranges from Student Loans from Student Finance England to Falmouth bursaries and awards.

Falmouth’s funding and bursary pages: falmouth.ac.uk/study/student-funding Awards include: - Cornwall Award - for Cornish residents - Materials Award - to pay for course-related costs - Bursaries for travel and placements - Care Leavers Bursary - Dependent’s Bursary The Students’ Union also holds funds to support student-led activities: - The Students’ Union Student Led Event and Project Funding - The Students’ Union Green Fund - The Students’ Union Sport Bursary Scheme Hardship support: falmouth.ac.uk/study/student-funding/ hardship-fund Further details on course costs can be found on Falmouth’s tuition fees pages: falmouth.ac.uk/tuition-fees

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Other resources include: Student Finance England: Introduction to student finance and application portal: gov.uk/student-finance Search for private funding; budget planner; loan repayment and wage predictor: grants-search.turn2us.org.uk The Students’ Union offer an advisory service which can be accessed by appointment and is independent, impartial advice: thesu.org.uk/advice In addition, independent advice on Student Finance is available at other sources such as: moneysavingexpert.com/students

For further information please contact: financefacts&figures@falmouth.ac.uk Full details on Falmouth University’s finances can be found in the Annual Financial Statements which can be accessed at: falmouth.ac.uk/corporate/regulatory-information The Students’ Union Finances are available at: thesu.org.uk

Falmouth University Falmouth Campus Woodlane, Falmouth, Cornwall TR11 4RH 01326 211077 Penryn Campus Treliever Road, Penryn, Cornwall TR10 9FE 01326 370400 falmouth.ac.uk @falmouthuni