Solent University’s annual statement of accounts reveals that it has exceeded its budgeted surplus in consecutive years, recruited students beyond target, and was ahead of budget in 2017/18. The university achieved a 7% surplus for the financial year, exceeding a planned budget financial surplus of 5%. Accounts show a net cash inflow from operating activities of £19.2m, an increase of £3.6m.
Phil Cotton, chair of governors, said: “We have sought to look to the future by investing heavily in our campus estate and infrastructure, creating more opportunities to expand and diversify, such as with a new maritime simulator and new sports complex to open on campus next year. These new facilities will not only enhance student learning, but also create income through external training provision, that we can plough back into developing our student experience still further.
“By planning for the future, we have ensured that Solent is financially viable, and sustainable. With strong financial management, and by keeping our eye on the things that really matter, we are ensuring that Solent offers the best it can to our current and future students.”