Our investment in student support explained
This year, an additional £1.9 million has been invested into supporting students throughout the COVID-19 crisis and this challenging academic year, taking the total to almost £6.5 million so far, as well as significant rent changes for those living in University accommodation.
There is also extensive support from Schools, Faculties and the Library which is not included in these figures.
Overall spend on student support
Some of this additional investment has come from the government, while our alumni and supporters also donated an astonishing £1.4 million at the start of the pandemic which has supported a number of these projects.
The chart below shows how the almost £6.5 million total is broken down, and includes both planned spend and additional investment for 2020/21.
Student support, mental health and wellbeing services
Our planned spending on University-wide mental health and wellbeing for this year was £3.8 million. On top of this we have invested an extra £450,000 in staff posts in these services and £101,000 in innovations such as the SafeZone app and our 24/7 mental health helpline.
The chart below shows how the total of £4,331,126 is broken down.
Please note: 'Core running of student support teams' includes both pay and non-pay costs for the core running of the University’s Counselling and Mental Health Service, the Advice and Response team, Disability Advisory Support Services (DASS) and Residential Life (ResLife) teams.
Financial support initiatives
This academic year we had already planned to make available over £700,000 of financial support initiatives, but due to the increased challenges we know many students are facing during the COVID-19 crisis we have so far more than doubled this by investing an additional £716,000 combined with a further £402,000 from the government.
The chart below shows how the total of £1,845,589 is broken down.
Additional IT support
We have also invested an additional £260,000 in IT support for students, including £130,000 to purchase new laptops that are available for loan and £10,000 towards dongles to support those without adequate internet access at home.
The chart below shows how the £260,000 is broken down.
Support services for students
If you're a Manchester student looking to access support, here are some useful resources:
- Disability advice and support
- Careers Service
- Cost of Living Support Fund
- Wellbeing support and events calendar
- Mental health support
Alternatively, you can explore our full range of resources and services on our Student Support website.
This year’s financial performance
- £142m adjusted surplus, which is 3% of total income, excluding changes to USS deficit recovery (£65m decrease from 22/23, which was 7.9% of total income).
- £1.4bn total income (1.5% increase from 22/23) driven by strong demand for student places and world-leading research.
- We generated £89m cash from operating activities, but need to retain cash to invest in student and staff facilities and support, IT infrastructure, zero carbon projects and premises/residences.
Where our money comes from
Total income: £1.4 billion.
- £714m, 52%: Tuition fees.
- £268m, £20%: Research income.
- £139m, 10%: Government funding.
- £144m, 11%: Other.
- £32m, 2%: Capital grant income.
- £67m, 5%: Residential and catering income
Where we spend our money
- 52% on staff costs.
- 8% on premises.
- 7% on depreciation and amortisation.
- 12% on teaching other operating expenditure (OOE).
- 6% of research OOE.
- 15% on other OOE.
Staff costs were £692m (exclusing release of USS deficit recovery position).
Annual loan interest was £18m.
£120m spent on pensions in the year.
Key activity spend in £ millions
- Total spend: £1,024m.
- Academic departments: £526m.
- Research: £213m.
- Running our estate: £201m.
- Administration and central services: £197m.
- Residences and catering operations: £59m.
- IT services: £52m.
- Cultural institutions and other: £45m.
- Library: £30m.
After adjusting for the impact of the USS deficit recovery provision release, expenditure is up by £85m (7%) due to an increase in staff numbers and continuing inflation.
Investing in the student experience
- £4.2m ion enhancing the student experience, providing greater flexibility and personalised services.
- £3.3m investment in future student residences in Fallowfield.
- £1.9m investment in new teaching capacity an new course development in Humanities.
- £3.0m grant given to the Students' Union (increase of £0.1m from 22/23).
- £5.2m on capital improvements across halls of residence.
- £5.1m on delivering high-quality blended and flexible learning experiences.
University reserves and resources we can spend
The components of the University's reserves are shown below with the most accessible on the left. We maintain a strong cash balance to ensure we can pay our staff and suppliers.
- £489m cash deposits.
- £267m net amounts owed.
- £143m staff pensions (£112m) and other provisions (£31m).
- £394m long term loans.
- £265m heritage and other assets.
- £240m endowments.
- £2,039m land, buildings and equipment.
Investment in strategic revenue projects
In the 2023/24 financial year, the University invested £49.8m in straegic revenue projects.
£15.3m in teaching and learning projects, including:
- £4.2m on enhancing the student experience, providing greater flexibility and personalised services.
- £5.1m on delivering high-quality blended and flexible learning experiences.
- £1.1m on enhancing our capability to assist students according to their level of engagement.
£3.9m in the Research Lifecycle Portfolio, providing targeted investment to help realise our research ambitions.
£30.6m in our Professional Services, systems and processes, including;
- £18m on improving IT services to enable our current and future needs.
- £6.5m on creating a secure, robust and efficient data network at the heart of the University.
- £3.8m on strengthening our stance on cyber security, data compliance, and information protection.