How QMUL spends its income.
Tuition fees for UK and EU students are still at a record high of £9250 and international students pay anything from £16,200 to £35,000 (These figures could be subject to change from 2021). This high level of student contribution has led to a greater interest in university spending. A report named ‘Where do student fees really go?’ by the Higher Education Policy Institute (HEPI) details a survey that found that 74% of students want more information on where their fees go.
A look at some of QMUL’s income and expenditure details for the 2017-2018 year provides some insight into how it spends its total income.
Tuition fees accounted for around 51% of the £461.9m total income of QMUL in the 2017-18 year. However, all the university’s income is not solely derived from Tuition Fees. For QMUL, the remainder of the income came from Funding Body grants: 15%, Research: 23% and multiple other sources of income: 11%.
“Total expenditure (including taxation and other gain/losses in the year) increased by 9.0% to £449.2m”.
£217.1m was spent on academic and related expenditure, around 48% of total expenditure.
£103.2m was spent on research grants and contracts, £69.7m on administration and central services, £41.1m was spent on premises, £14.7m on Residences, catering and conferences and £2.7m on other expenses.
The statement also states that it’s provided to “enable readers […] to obtain a better understanding of the governance, management and legal structure of the University.”
These figures have been obtained from the QMUL 2017/2018 Financial Statement which can be found here: http://www.finance.qmul.ac.uk/media/finance/financialstatements/Financial-statement-2017-18.pdf