Increasing the transparency of Falmouth University’s Financial Information
This joint publication is prepared by the University and The Students’ Union, so that all students, staff and key stakeholders understand how Falmouth University generates revenues and how that money is spent. The figures used throughout this document are those for the 2019/20 financial year with the exception of the opening pages on Covid costs and the impact of the global pandemic on the University between March 2020 and March 2021.
It also shows how The Students’ Union spends the money it receives from its students and the University and includes details of the joint venture, Falmouth Exeter Plus.
The University and Students’ Union agreed that it was important to recognise the financial impact of Covid on the institution which have been significant and have meant that fee income has been spent in responding to this event.
Falmouth University is a Higher Education Corporation and has charitable status. All surpluses generated are reinvested for the purposes of teaching and research. The Students’ Union is a registered charity, number 1145405.
The cost of COVID-19
As the UK headed towards lockdown in Spring 2020, the University made swift and signifcant measures to ensure the safety of staf and students, to mitigate the impact for those directly and indirectly afected by COVID 19 and to create the best possible student experience in unprecedented circumstances.
Blended and online delivery
The University has heavily invested in technology to accelerate the development of digital platforms and create high quality digital learning experience where students can continue their studies online. To support the shift to remote delivery and the production of new asynchronous digital content, the University employed the use of Digital Interns.
In addition, signifcant investment has been made to ensure that the university’s two campuses are as COVID safe as possible and to facilitate the use of specialist and technical spaces when government guidance allows.
Adapting student assessments
Student assessments were revised to ensure that they could be undertaken online, removing the need for access to physical resources while increasing access and availability of online resources. Both the redesign of assessment and the adjustment of marks were undertaken in discussion with the University’s external examiners to ensure that the right balance was achieved between supporting students and maintaining academic standards.
Extending the University’s Financial Hardship Fund
We extended and extensively promoted the University’s Financial Hardship Fund availability to support students adversely afected by the pandemic and the move to remote learning. In total, £100,000 of funds were provided to students to help facilitate remote learning and cover the cost of tech such as laptops, smartphones and other course specifc equipment. As part of our commitment towards access and participation, we are also working on a collaborative project to evaluate the efectiveness of the fund and how we can provide the best support to our students.
Waiving accommodation rent
We waived rent for all University owned and managed accommodation from Study Block Three for a total of seven weeks.
Dedicated support
Our Living Support Team carried out welfare outreach calls to around 470 students who remained in the local community during lockdown. This enabled us to understand if students had any welfare issues, and to then provide advice, solutions and regular check-in calls where needed.
Support for students included food packages, medicine and meal deliveries, as well as signposting to resources like mental health and study support.
Online support services
All of the University’s specialist support services, including Living Support, Wellbeing Support, ASK:Academic Skills, language classes and the Multifaith Chaplaincy, successfully moved online in the spring and, as a consequence, have seen engagement with booked sessions increase signifcantly and an improvement in the service’s efciency. The pandemic has also enabled us to accelerate digital services provision and we have launched two new initiatives to support wellbeing and resilience as a result.
Students’ Union activities
The Students’ Union also adjusted its activities so that engagement continued throughout the COVID 19 lockdown, with online activities and events, as well as an online forum event attended by more than 40 groups to approve new societies. Signifcant progress is now being made on developing digital solutions to support students over the next year and beyond, including a 2020 Welcome Microsite, a Virtual Welcome Fayre, improved digital democracy systems and streamlined student processes.
Rapid Response Team
Over the summer period, the University worked extensively with its delivery partner and other stakeholders to introduce a Rapid Response Team to support the implementation of a private COVID 19 testing contract and support for students self-isolating. This included information on practical help and support (including hot food and/or grocery deliveries, postal deliveries and medical supplies), a referral and signposting process to Student Support Services, and a wellbeing assessment.
The cost of COVID-19
In fnancial terms, the following key investments, made in conjunction with partners Falmouth Exeter Plus (FX Plus) and the University of Exeter, total just under £3 M:
Total investment
Rent waiver for students in University Accommodation for the Summer Term 2020 £1,000,000
Rent waiver for students in University Accommodation for seven weeks in Spring 2020 £800,000
Enhanced cleaning across campuses £300,000
Campus works to make COVID Safe (signage, marquees, temporary toilets, etc) £300,000
Converting content to online (inc digital interns) £250,000
5,000 free Adobe licences for home use
£200,000
Digital hardship fund and temporary loan IT equipment £100,000
TOTAL £2,950,000
Outgoings in summary
Our charity status
Falmouth University is a charity whose purpose is teaching and research. We need to cover our costs and investment needs to support students now and in the future. We plan to generate a surplus of income over expenditure to aford investment needs.
Recent investments include Launchpad and the Creative Bridge (£5m), the Collaborative Link and Knowledge Vault at Penryn (£1m), the construction of shared academic and social spaces at Penryn (£2.2m), IT network, replacement and security (£2m), plus £1 million spent each year on equipment across all areas.
“I highly commend the fnance transparency that Falmouth provides us with every year, because it really does give students an understanding to how their money is spent. I feel that this year, in particular, has been an obscure year to say the least. Money has been the forefront of students mind, and a document that openly expresses where their money has been used to keep students safe, and adapt to the circumstances, is very honest and admirable. If you have any comments or concerns regarding how your money is being spent, please communicate it to your student reps or straight to the Union.”
Lizzy Marshall, Falmouth President, 2020/2021
Key facts
Information based on the annual return to the Higher Education Statistics Agency (HESA). hesa.ac.uk
income and expenditure
Where our money comes from and what it is spent on
62.3 M RESEARCH GRANTS
Research projects
-
Income decreased through lower tuition undertaken by fee receipts, primarily from on campus academic staff courses, lower research grant income and 0.7 M GOVERNMENT redcutions in other income following the GRANTS Teaching closure of our campuses in response to the and research COVID 19 pandemic. 4.3 M 10% INCOME FROM VENTURING Charges for services, catering, Launchpad, etc. 6.3 M
M 1% Where does Falmouth University’s money come from? 82%
Our income and expenditure
Where our money comes from and what it is spent on
63.8 M
Overall costs rose during the year with staff costs increasing due to pay award and pension increases together with the cost of summer term rent waiver for University Owned and Managed Accommodation. This was partly offset by lower expenditure on bursaries and estates running costs.
Our income and expenditure
Where our money comes from and what it is spent on
£3,850
TEACHING AND RESEARCH
41% Lecturers, technicians, course admin, course materials
Where does the student ADMINISTRATION
16% Quality Office, Student Records, HR, Finance and Funding, fee go each year if I am a £1,490
-
Vice Chancellor’s Strategic Support home/EU undergraduate?
Undergraduate fees
£1,380
£730
ESTATES AND FACILITIES*
15% Building running costs – maintenance, light, heat, power
IT AND AV SERVICES*
8% IT support, including Education Technology
£590 Ambassadors
MARKETING
6% Applicant Services, Sales, Events and Communications,
The adjacent information is based on
£430 student accommodation of £9,250.
RESIDENCES AND CATERING
5% Including subsidies for refectories and some the standard undergraduate fee for the year
This amount is determined by the Government which sets a maximum fee that the University can charge for UK and EU students. Other fees are reviewed annually and set against the cost of delivery, demand and competitor information.
Actual costs vary by course but the University has targets such that all students get an equal service for the same fee. Cross subsidisation between courses is minimal and all Academic Departments
LIBRARY AND ACADEMIC SKILLS*
3% Running costs for Penryn and Falmouth libraries and £290 related skills support
£180
£150
£100
WELFARE*
2% Counselling, living support, chaplaincy, etc.
BURSARIES
2% Paid in cash to eligible students
STUDENTS’ UNION
1% For full breakdown see page 18
have to be fnancially convergent over the CAREERS life of the University’s 2030 Strategic Plan.
£60
1% Employability advice, placements, etc.
Note: for an International student, approximately £1,000 is spent on additional recruitment costs (included in Marketing and Bursaries) with another £1,000 spent on additional support costs such as international admissions, visas, foreign exchange, etc.
Our income and expenditure
Where our money comes from and what it is spent on
£3,390
TEACHING AND RESEARCH
42% Lecturers, technicians, course admin, course materials
Where does the student ADMINISTRATION
16% Quality Office, Student Records, HR, Finance and Funding, fee go each year if I am a £1,310
Vice Chancellor’s Strategic Support home/EU postgraduate?
Postgraduate fees
-
The adjacent information is based on the standard full time campus based postgraduate fee for the year of £8,000.
Actual costs vary by course but the University has targets such that all students get an equal service for the same fee.
£1,210
£640
ESTATES AND FACILITIES*
15% Building running costs – maintenance, light, heat, power
IT AND AV SERVICES*
8% IT support, including Education Technology
MARKETING
7% Applicant Services, Sales, Events and Communications, £520 Ambassadors
£380 student accommodation
RESIDENCES AND CATERING
5% Including subsidies for refectories and some
£250 related skills support
£160
£90
£50
LIBRARY AND ACADEMIC SKILLS*
3% Running costs for Penryn and Falmouth libraries and
WELFARE*
2% Counselling, living support, chaplaincy, etc.
STUDENTS’ UNION
1% For full breakdown see page 18
CAREERS
1% Employability advice, placements, etc.
Note: for an International student, approximately £1,000 is spent on additional recruitment costs (included in Marketing and Bursaries) with another £1,000 spent on additional support costs such as international admissions, visas, foreign exchange, etc.
Across the HE sector, income from International students subsidises research activity – a necessary element to keep teaching up to date.
* the majority of support services are provided by our joint venture partner, Falmouth
Our income and expenditure
Where our money comes from and what it is spent on
Academic departments
These charts show how each academic department allocates its annual funding and primarily relate to the teaching and research funds shown in previous pages.
GAMES ACADEMY
The
Union
Our income and expenditure
Where our money comes from and what it is spent on
The Students’ Union
Financial Transparency
6% ADVICE SERVICE
£77,000
£6 per student
Funding two professional advice workers opening cases for student clients throughout the year.
7% STUDENT VOICE DEPARTMENT
£93,000
£7 per student
8% GOVERNANCE
£99,000
£8 per student
£110,000
£9 per student
TOTAL EXPENDITURE
£1.3M
As a service based organisation, the vast majority of The Students’ Union expenditure is used for stafng costs to run the many services delivered to students.
Support and training for student reps, research and insight work, support better engagement of non traditional students and staff costs.
Employment of four full time Presidents as Trustees of The Students’ Union. 9% COMMS AND RESEARCH
This is the cost to put on all the Freshers events on campus.
-
29% CENTRAL COSTS
£348,000
£28 per student
This includes all travel costs, insurances, training, depreciation, bank charges and staff to run the central support.
42% STUDENT OPPORTUNITIES
£519,000
£42 per student
Supported student clubs, societies, volunteering and other student activities.
Financial support
Falmouth University employs a Student Funding Team and The Students’ Union has a team of advisers who operate across both campuses and are available to provide advice and support on student money matters. The Students’ Union also holds funds to support student led activities.
Student support ranges from Student Loans from Student Finance England to Falmouth bursaries and awards.
Falmouth’s funding and bursary pages: falmouth.ac.uk/study/student-funding
Awards include:
- Cornwall Award
- for Cornish residents
- Materials Award
- to pay for course-related costs
- Bursaries for travel and placements
- Care Leavers Bursary
- Dependent’s Bursary
The Students’ Union also holds funds to support student-led activities:
- The Students’ Union Student Led Event and Project Funding
- The Students’ Union Green Fund
- The Students’ Union Sport Bursary Scheme
Hardship support: falmouth.ac.uk/study/student-funding/ hardship-fund
Further details on course costs can be found on Falmouth’s tuition fees pages: falmouth.ac.uk/tuition-fees
Other resources include:
Student Finance England: Introduction to student finance and application portal: gov.uk/student-finance
Search for private funding; budget planner; loan repayment and wage predictor: grants-search.turn2us.org.uk
The Students’ Union offer an advisory service which can be accessed by appointment and is independent, impartial advice: thesu.org.uk/advice
In addition, independent advice on Student Finance is available at other sources such as: moneysavingexpert.com/students
For further information please contact: financefacts&figures@falmouth.ac.uk
Full details on Falmouth University’s finances can be found in the Annual Financial Statements which can be accessed at: falmouth.ac.uk/corporate/regulatory-information
The Students’ Union Finances are available at: thesu.org.uk
Falmouth University
Falmouth Campus Woodlane, Falmouth, Cornwall TR11 4RH 01326 211077
Penryn Campus Treliever Road, Penryn, Cornwall TR10 9FE 01326 370400
falmouth.ac.uk @falmouthuni