According to its 2021-22 Annual Report and Financial Statements, the University of Sunderland is aiding in the transformation of over 25,500 studentsโ lives, while also continuing to expand globally and investing millions in its campuses.
Published this week, the report sets out the Universityโs financial position over the past year, at the same time as reiterating its strategic purpose and ambitions and detailing its achievements.
The report notes that the University has:
- shown year-on-year improvement in the key financial metrics of underlying operating surplus, operating cash generation and year end cash balance over the last five years;
- invested ยฃ76.4m over the five years ending in 2023 in facilities for both students and staff;
- grown student numbers to more than 25,500;
- opened a new ยฃ5million Anatomy Centre;
- further strengthened ties with the Sunderland Studentsโ Union (SU);
expanded the University of Sunderland in London; and - topped up student hardships funds to establish a cost-of-living support scheme of up to ยฃ1m.
As well as restating its life-changing purpose, the report also provides an update on the financial position of the University.
Speaking as the report was published, Sir David Bell, Vice-Chancellor and Chief Executive of the University, said:
โOnce again, we ended the academic year in an advantageous position financially. This continues the improvements we have seen over recent years and is reflected in an increased level of liquidity and moving from having net debt to being net cash positive.
โIn addition, we have grown our investment programme and completed an extensive number of capital works, including the opening of a ยฃ5m anatomy centre to support our work in medicine and other health disciplines, as well as new facilities for film and radio production, and photography.
โOur financial strength has not come about by accident. It is the result of taking a careful approach over several years as we have set realistic income targets and kept our costs under scrutiny, at the same time as developing our academic activity in a number of different ways.โ
University leaders say they are now in a strong position to build on the educational successes of the past five years and, at the same time, maintain long-term financial sustainability.
The full annual report can be viewed here
