2023-24 finances updated for the end of January
David Kernohan is Deputy Editor of Wonkhe
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After publishing the guts of the sector financial position in 2023-24, I’ve heard from numerous people that more results are now out – I’ve taken it upon myself to add these to the original analysis charts.
I’ve mainly done this here to avoid rewriting the original article, which remains a snapshot of the moment, while reflecting the hard work of finance teams, planners, auditors (both internal and external) and everyone associated with governance in getting these things signed off and published.
As January turns into February we have 18 reasonably sized registered providers of higher education who have not published their accounts. Twelve have university title.
Of the 142 remaining larger providers, 20 have posted a deficit for 2023-24. If you dig into the accounts – most notably the provisions for USS that represent the unwinding of possible future debts and are about as far as you could get from cash to pay salaries with – you can find many more that are not breaking even.
Here’s the charts from the original article updated:
Surplus/Deficit – allowing you to see the impact of USS provisions
Tuition fee income
Staff costs
To be clear, these are just headline figures – you do need to go to the accounts themselves to read the detail (and the BUFDG guide is what you need to help you)
Not sure the surpluses are correct – there’s at least one HEI here whose surplus is with the benefit of a significant USS provision unwinding and where the surplus becomes a deficit without it.