How your fees are spent
a guide for Falmouth University students 2024 - 2025
Falmouth University has charitable status. This means it has no shareholders or owners expecting a return on investment, and any surplus income is re-invested back into Falmouth University, supporting students, researchers, staff and our community.
University finances can feel complex, and it’s important that we’re transparent with you, the students, so you know how your money is being used. With living costs continuing to place pressure on students, transparency and accountability matter more than ever.
By working in partnership, we have been able to create a publication that explains how funding is generated and managed across Falmouth University, the Students’ Union and FX Plus. It outlines how resources are prioritised and how these choices clearly support the wider student experience.
By making this information available, we aim to provide greater clarity about how funding is used across the University, the Students’ Union, and FX Plus. This transparency is intended to support understanding of how financial decisions are made, and to build trust by showing you that every penny is invested in making your time at Falmouth as valuable and impactful as possible. Our focus remains on ensuring that funding is used carefully and responsibly at a time when financial pressures are widely felt.
Jadelle Luckman SU President Falmouth
Rob Holmes
Executive Director of Finance, Audit and Risk
The University balances the safety of your money with getting the best return we can. For the past year, we did this by banking with Barclays who hold our day-to-day cash and supplement this with deposits placed with other high street banks. At the year end, we had cash balances of £31m which were with Barclays Green Deposit (£15m) and Santander (£16m). Right now, we don’t have investments and only earn interest from our banks, including cash in green deposits which support sustainable projects worldwide.
Total income
£84.1m
£3.4m invested in our facilities (check out page 6 for more)
Total number of enrolled students
8,723 (on campus, online and partnership)
As a charity we only make a surplus to generate funds for re-investment in the organisation, and for meeting unforeseen adverse circumstances, such as large one-off unexpected costs. This reinvestment of surplus funds supports new academic development, improving the quality of buildings and facilities, and enhancing our information technology. Without surpluses we will not have the funds to make that investment. At the end of each year, the surplus is added to our reserves. The reserves are then used to fund investment that cannot be met from our normal recurrent sources of revenue.
End of year surplus of £0.4m
£2.0m received by Falmouth to fund important research
£0.8m spent on bursaries and hardship funds for students
Most of our funding – over two-thirds – comes from tuition fees paid by students. The rest is made up of funding from the government, research grants and other sources.
Income and costs rose by 9% due to higher tuition fee receipts from on-campus and online students, higher partner student fees and higher staff and non-pay costs (primarily due to franchise fees payable).
Did you know?
Until 2024-25, tuition fees have been frozen since 2017-18. They have not risen in line with inflation, which means that it’s estimated that each is worth less than £6,000 in real terms. Universities have had to manage their income carefully to make sure they continue to deliver a high-quality student experience while prices have risen but their income has not.
This includes £2.3m of external funding (mainly government grants) for projects, capital grants towards buildings and equipment and the Turing Scheme grant that helps students fund study and work abroad opportunities. Income from student catering is also included here (although provided by FX Plus).
While we don’t have investments, a small percentage of our income is earned from interest from bank holdings, just like any regular savings account. This helps us to fund university projects and services, ultimately supporting student life and campus improvements.
Research grants support our pioneering research, making our campuses a dynamic hub of learning. These grants help our academics and researchers tackle big global challenges, driving change that has an impact within Cornwall and beyond.
Where our money comes from
Other income
£5.5 M 6%
Interest receivable
£1.1 M 1%
Research funding and grants
£0.8 M 1%
Government funding (Office for Students)
£4.7 M 6%
Tuition fees
£72 M 86%
How we’ve invested in the student experience over the last year:
Investing in facilities
• Equipment for Falmouth Stores, supporting the growth in digital media making on Falmouth Campus
• New LED film and photography lighting for Costume and Fashion photography courses
• Equipment and building works for the Devonshire Collection of Period Costume
• Replacement of SoFT cinema projector with new Christie M4K15 4K laser
• New LED lighting fixtures and peripherals to support (stands etc) - 15 units of Aputure Storm 400X
• New video and focus pulling equipment - 2x Wireless Video Transmission Units - Teradek Bolt LT & 3x Wireless Follow Focus Units - Nucleus M
• Updating underwater dive systems including Nikon Z8 cameras and Nauticam housings and replacing departmental van/providing dedicated dive team van
• Updating Canon mirrorless camera systems and video projectors for presentation and exhibition
• A total of 515 desktop and laptop devices were procured ensuring students and staff have appropriate equipment and maintaining our cyber security position
• 331peripherals were procured updating and enhancing student facing IT suites and modernising hot desk spaces for staff
• AV improvement across AMATA and Falmouth Campus
Investing in sustainability:
• A range of equipment for shredding waste plastics and injection moulding materials as part of the new Materials Lab within the 3D workshops. This has allowed growth of use by Sustainable Product Design and Interior Design students and the application to external and knowledge exchange projects looking at new recycled and natural materials – including working with one of the UK’s largest holiday park companies
• Glasney student accommodation block to create an ‘Eco-Block’ delivering zero Scope 1 emissions, removing all gas appliances and installing air source heat pumps and solar PV
• New solar PV arrays on the SoFT and DDM buildings to increase on-site renewable energy generation
• Replaced fossil-fuel heating systems with air source heat pumps in the SERSF building and continued rollout of LED lighting, targeting the ESI building
Investing in accessibility:
• Completed extensive remodelling of two flats at Glasney to create fully accessible student accommodation; delivered larger bedrooms with adjacent accessible wet rooms, alongside powered doors and improved circulation space. Modifications also included installation of rise-and-fall kitchen appliances and worktops, together with a range of additional accessibility adaptations
Finance costs
£0.8 M 1%
Other expenses
(teaching materials, premises costs, bursaries)
£43.6 M 51%
Staff costs (salaries, tax and pension contributions)
£36.1 M 43%
Buildings and equipment
£4.3 M 5%
Whilst tuition fees have been static since 2017-18, the current year saw the government allow us to increase our fees in line with inflation. This has enabled us to pay for rising costs by passing on this increase – most of which is funded by money from Student Loans.
Careers and employability
(e.g. access to employability coaching, Handshake platform, workshops and events):
£60 1%
Students’ Union
(e.g. clubs, societies, student representation, events and welfare support):
£70 1%
(e.g. supporting students in need, e.g. with tuition or living costs):
£100 1%
Residences and catering
(e.g. student dining and residences, including subsidies):
£180 2%
Teaching and research
(e.g. salaries of teaching and technical staff, visiting speakers, costs of workshops and materials):
£4,110 43%
Estates and facilities
(e.g. cost of maintaining campus infrastructure, such as media labs, performance facilities, studios and technical facilities):
£1,770 18%
Administration (e.g. student registration, academic records, HR and finance operations):
£1,195 12%
Marketing and engagement
(e.g. recruitment, applicant services, advertising and outreach activities that support access to higher education):
£910 10%
IT and AV services
(e.g. digital resources and infrastructure such as campus-wide Wi-Fi, virtual learning environments, enhanced cyber security and classroom equipment such as projectors and TV screens):
£750 8%
Library and academic skills
(e.g. physical and digital resources, books, journals and study spaces):
£210 2%
Welfare
(e.g. accessibility and disability services, mental health support, counselling and chaplaincy):
£180 2%
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.
The Students’ Union (SU) is an educational charity that is for students, run by students. We are here to represent and advocate for students’ needs while working with the University to enhance the overall student experience. Through initiatives such as Make a Change and Student Forum, students are empowered to influence campus life, access support, and engage in social, developmental and career building opportunities.
The SU’s income primarily comes from Falmouth University and the University of Exeter through a block grant funding model. This approach enables the SU to plan strategically and deliver free or low-cost services for students. All funding decisions are overseen by the SU’s senior leadership team and approved by the Board of Trustees. Although the SU works closely with the University, it remains an independent, student-led charity.
In the last financial year, the SU has generated a small surplus. This will be reinvested into improving the student experience or allocated to reserves to support long-term financial stability.
All of the Students’ Union’s banking activities, including deposits and transfers, are managed through The Co-operative Bank, reflecting the SU’s commitment to ethical and socially responsible finance.
What is the SU doing to support students with the cost of living?
• Introduced free food pantries on both campuses to help students manage rising food costs
• Launched free, refillable hygiene stations across both campuses, providing access to essential hygiene products
• Offers a Student Project Fund to support the development and delivery of events and campaigns that strengthen the student community
• Provides a Gender Expression Fund to support access to gender affirming items or travel to related appointments
• Organises a wide range of free or low-cost events to ensure social opportunities remain accessible to all students
• Actively campaigns and lobbies for improved financial support for students at institutional levels
You can find out more about your Students’ Union at thesu.org.uk or follow them on Instagram @thesufalexe and @supresidents
What does the SU spend its money on?
As a service-based operation, the vast majority of expenditure is used for staff costs to run the many services delivered to students.
How we reinvest our surplus
FX Plus generates modest annual surpluses which are reinvested to protect the quality and future of campus services. In particular, this supports the upgrade, refurbishment and eventual replacement of student accommodation, ensuring residences remain safe, accessible and fit for purpose as buildings age and demand changes.
As with many organisations, FX Plus is operating in a higher cost environment that affects all our services. Rising energy and utilities bills, inflation in materials and contractor rates, essential compliance requirements, and increases in staff pay all contribute to higher operating costs. These pressures affect the cost of all the services we provide.
Despite this, we remain focused on keeping services accessible and affordable for students. Our catering teams offer a broad range of budget-friendly meals and daily specials, including vegetarian and vegan options, and we design menus that reduce waste and make our sustainable options appealing.
A key part of managing cost pressures is working closely with the local supply chain. Around 40% of our annual supplier spend is with local businesses, rising above 50% in recent performance periods. This shortens supply chains, reduces transport costs and environmental impact and supports the surrounding community.
Our commitment to combining sustainability with affordability has also been independently recognised: the Sustainability Café on Penryn Campus recently achieved Vegetarian Society Accreditation, acknowledging the quality and integrity of its vegetarian and vegan menu.
Myth:
“FX Plus is a profit-driven organisation”
FX Plus is a limited company with charitable status and spends any surplus cash on the students and staff of the two institutions. It is owned by both universities and is a core part of how we work, providing essential services for staff and students, such as mental health support, university accommodation, library facilities and IT.
student rent in halls of residence)
£1.7m (e.g. accessibility grants such as Disabled Students’ Allowance (providing essential support and resources for students with disabilities), car park income)
(e.g. catering, retail, bar, nursery)
(e.g. residences, catering, retail, nursery)
We understand that managing the cost of living alongside being a student can be a challenge. That’s why we offer a range of financial support services to help students navigate these financial pressures and make their university experience as affordable and stress-free as possible.
Student bursaries and financial support
We want our students to achieve their full potential, and we have several bursaries and awards aimed at helping you do just that. This includes the Hardship Fund which is open to any student who is experiencing unforeseen financial challenges. You can find out more about all our bursaries and additional funding options at: falmouth.ac.uk/study/student-funding
Have a question or want to talk to someone about your finances?
• Student Finance team: they can provide advice on things like how to apply for student finance and additional funding, debt support, as well as general money management and budgeting. Get in touch at: student.finance@falmouth.ac.uk
• Students’ Union Advice team: their professional team of advisors offer confidential and impartial advice on a range of topics, including finance, hardship, budgeting and student funding entitlement. Get in touch at: advice@thesu.org.uk or visit thesu.org.uk/advice
With increases in prices putting pressure on the cost of living, knowing what support is available and where to get value for money is more important than ever. Our Money Matters Hub brings together key information to help you find the latest student deals, manage your money with confidence and get the right support if you need it.
Visit student.falmouth.ac.uk/pages/money-matters or scan the QR code.
Valuable resources owned by the University, such as buildings, equipment and cash, which are used to support its operations and long-term sustainability.
Base rate
The interest rate set by the Bank of England that influences how much the University can earn on savings or pay on loans.
Block grant
A lump sum of funding allocated to the Students’ Union by the University, allowing it to manage its services and initiatives for students.
Financial aid provided to students based on need or specific criteria, intended to support their education and living expenses without requiring repayment.
Depreciation
The reduction in value of assets like buildings or equipment over time, factored into financial planning to account for wear and tear or obsolescence.
The total costs the University incurs in running its operations, such as staff salaries, campus maintenance and student support services.
Financial year
The 12-month period used by the University for budgeting and financial reporting. Typically runs from August 1st to July 31st in the UK higher education sector.
Financial awards given to support specific projects or needs, often provided by the government or charitable organisations. These funds don’t need to be repaid.
Green deposits
Environmentally conscious savings investments where the University places some surplus funds in accounts supporting sustainable and eco-friendly projects.
The total money the University receives from sources like tuition fees, government funding, research grants and other revenue streams.
A continuous rise in the price of everyday goods and services. Over time, inflation reduces the value of money, requiring universities to manage costs carefully to maintain quality.
The income earned from bank-held funds or the cost paid on borrowed money. For universities, interest from savings contributes to funding projects, while loan interest is part of operating expenses.
The independent regulator for higher education in England. The Office for Students ensures that universities deliver quality education, support student interests, and provide value for money. It also oversees access, participation, and student outcomes.
The leftover funds after all income is used to cover the University’s expenses, which are reinvested into improving facilities, services or reserves for unforeseen challenges.
The process of overseeing the University’s finances, ensuring cash flow is managed responsibly, safely and ethically, including investments and debt repayment.
Individuals responsible for overseeing the financial and operational management of charitable organisations like the Students’ Union, ensuring funds are used effectively.
A government-funded organisation that supports research and innovation across the UK. UKRI provides grants and funding to universities and researchers, helping to drive advancements in science, technology, arts and humanities.
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