A statement from the Director of Finance

The University annual financial statements for the year ended 31 July 2009 were approved by Council on 25 November. The statements are posted at http://www.soton.ac.uk/finance/central/accounts.html?.

The results show a strong financial performance? with a surplus on ordinary activities of ?4 million.

The final settlement of the insurance claim relating to the Mountbatten fire is shown as an exceptional item? and the settlement of the claim removes the largest single financial risk identified last year to the University.

The accounts show good growth in income from tuition fees? research grants and contracts and other operating income (consultancy? services rendered? halls of residence etc).

Salaries and wages have increased in line with expectations following the final payment under the 2006?– 2009 salary award in October 2008.

The University finished the year with high cash balances? although these will reduce in the future? as we complete the current capital plan.

The effects of the fire continue to distort our financial results, but even adjusting the results to take account of these exceptional costs, and while acknowledging that this is a good result, the University surplus is not adequate to meet our long term investment needs.

天发娱乐棋牌_天发娱乐APP-官网|下载 current good financial position is the result of substantially increasing our income in the past two years without a corresponding increase in costs. The results are a tribute to the talent and hard work of staff across the institution in achieving this financial improvement. However, the University is very concerned that efforts to reduce public expenditure in the coming years will adversely affect our financial position, and we are likely to learn more about our future funding levels in the coming months.

Any questions related to the financial statements should be addressed to Malcolm Ace (mja2@soton.ac.uk).