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 2021/22 financial year.
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.
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.
Cost of living
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 new Money Matters Hub brings together key information to help you manage your finances with confidence and get the right support if you need it.
If you’re thinking about money and making ends meet, or want to take control of your finances, support is available to all students here at Falmouth. So whether you’re an international student, a mature student, living at home or studying one of our online degrees, you can come and talk to us.
On campus students
For information and advice around tuition fees, Student Finance and financial support options at the University, contact student.finance@falmouth.ac.uk. The team also runs a drop-in session every Wednesday if you want to see someone in person (13:30-16:00 in Compass Hub 9, Penryn Campus Library).
Get independent and confidential advice from the Students’ Union. Book an appointment with the Advice team.
Falmouth Online students
Email: studentexperience@falmouth.ac.uk
Phone: +44 (0)1326 255251
WhatsApp (message only): +44 (0)7342 707666
If your financial situation is beginning to affect your mental health, you can get help and advice from our Student Support team or 24/7 free and confidential wellbeing support service. Find out more on our wellbeing pages.
Want a budget you can actually stick to? We can help with that.
or funding?
Come and talk to our Student Funding team:
Email: student.finance@falmouth.ac.uk
Or come to a drop-in, every Wednesday afternoon during term time at Compass Hub 9 (Penryn Campus)
Visit the Money Matters Hub to find out more:
falmouth.myday.cloud/ pages/student-support/ moneyadvice
Outgoings in summary
(e.g. wages and salaries, staff taxes, pension costs, etc)
(e.g. teaching materials, premises costs, IT costs, bursaries, etc)
(e.g. costs of construction/acquisition, utilities, maintenance, etc)
Costs rose during the year with staff costs increasing due to higher staff numbers and the annual pay award whilst other costs remained static as they were controlled to achieve the approved outturn.
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 afford investment needs.
The year saw further investment in our estate, in order to update our teaching, research and innovation environment. Minor works over the year included refurbishments and enhancements to spaces used by Games, Film & Television and Immersive Business. We also continued investment in cyber security (through FX Plus) alongside our regular refresh of IT suites.
“The rising cost of living has been the number one issue facing Falmouth students this academic year. Following feedback from students, The SU has collaborated with Falmouth University to ensure transparency around finances. Students understanding where their money is being spent is vital in keeping the University accountable, and ensuring students have the insight and knowledge to question spending decisions and continue to lobby for change. It is more important now than ever for Falmouth University to connect students with where their tuition fees are being allocated.
Please take the time to read through this document, and if you have any questions, or comments on the contents of this document, I encourage you to please share them with your SU Representatives via Presidents@thesu.org.uk.”
Luke Court, SU President
Information based on the annual return to the Higher Education Statistics Agency (HESA). hesa.ac.uk
Student gender
Student origins (Falmouth)
Our income and expenditure
Where our money comes from and what it is spent on
Income
Income rose due to higher tuition fee receipts from both on-campus students and higher partner student fees.
Our income and expenditure
Where our money comes from and what it is spent on
Expenditure
Costs rose during the year with staff costs increasing due to higher staff numbers and the annual pay award whilst other costs remained static as they were controlled to achieve the approved outturn.
Expenditure
Staff costs
(e.g. wages and salaries, staff taxes, pension costs, etc)
Other expenses
(e.g. teaching materials, premises costs, IT costs, bursaries, etc)
Buildings and equipment
(e.g. costs of construction/acquisition, utilities, maintenance, etc)
costs
bank interest on loans)
expenditure
Our income and expenditure
Where our money comes from and what it is spent on
Undergraduate fees
The adjacent information is based on the standard undergraduate fee of £9,250 for the year 2021/22.
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.
TEACHING & RESEARCH
&OUTREACH COMMS
Where does the student fee go each year if I am a home /EU undergraduate?
Our income and expenditure
Where our money comes from and what it is spent on
Postgraduate fees
The adjacent information is based on the standard full-time, campus-based postgraduate fee for the year of £8,500. Actual costs vary by course but the University has targets such that all students get an equal service for the same fee.
COMMS LIBRARY WELFARE
TEACHING
& RESEARCH
Where does the student fee go each year if I am a home /EU postgraduate?
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 on previous pages.
Our income and expenditure
Where our money comes from and what it is spent on
The Students’ Union financial transparency
The Falmouth and Exeter Students’ Union is a registered charity acting as the joint students’ union for Falmouth University and the University of Exeter in Cornwall.
OTHER DONATIONS
FALMOUTH UNIVERSITY
Where does The Students’ Union’s money come from?
UNIVERSITY OF EXETER
Our income and expenditure
Where our money comes from and what it is spent on
The Students’ Union financial transparency
ENGAGEMENT
£13,398
£1.90 per student
A newly created department during 2022 – empowering students to create, learn and engage within a range of activities on and off campus.
TOTAL EXPENDITURE
£0.9 M
per student
Providing professional advice for students throughout the year – from specialist academic advice and representation, Student Finance and budgeting advice.
£12.29 per student
Representation, campaigning, lobbying and allied training, guidance and support for all our students through effective student-led democracy.
£101,394
£14.36 per student
This cost relates to our digital presence, engagement and information to all students.
per student
For the employment of four full time presidents as trustees of the Students’ Union and development of the Board of Trustees.
per student
£323,296 37 %
Previously known as Student Opportunities – funding allocated to all student-led clubs and societies, this also includes costs and expenses for the minibus. CENTRAL COSTS
£45.79 per student
This includes costs for central functions of the charity (e.g. senior leadership, HR, finance, specialist organisational advice and support), our NUS and BUCS affiliations and specialist subscriptions, staff training costs, travel costs and depreciation.
As a service-based organisation, the vast majority of the Students’ Union expenditure is used for staffing costs to run the many services delivered to students.
Our income and expenditure
Where our money comes from and what it is spent on
Falmouth Exeter Plus financial transparency
Falmouth Exeter Plus (FX Plus) is the organisation jointly owned with the University of Exeter to provide services on the Falmouth and Penryn campuses.
FX Plus is a limited company with charitable status and spends any surplus on the students and staff of the two institutions.
Our income and expenditure
Where our money comes from and what it is spent on
Falmouth Exeter Plus financial transparency
FX Plus spends its money on maintaining the estate, running the trading operations and providing direct services to students and staff.
LIBRARY & ACADEMIC SKILLS
STUDENT SERVICES
TRADING ACTIVITIES
FX Plus: expenditure
How does Falmouth Exeter Plus spend its money?
PROPERTY & MANAGEMENT SERVICES
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:
• Falmouth Bursary
- to support student from low-income households
• Pendennis Bursary
• Dependants’ Bursary
The Students’ Union also holds funds to support student-led activities:
• The Students’ Union Student Project Fund
• The Students’ Union Sports Bursary
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: www.gov.uk/student-finance
Search for private funding, budget planner, loan repayment and wage predictor: grants-search.turn2us.org.uk
The Students’ Union advisory team, which can be accessed by appointment, offers independent, impartial advice: thesu.org.uk/advice
In addition, independent advice on student finance is available at other sources such as: moneysavingexpert.com/students
moneyhelper.org.uk/en/family-andcare/student-and-graduate-money
whatuni.com/advice/money/moneyadvice-for-students/69795
For further information please email: student.finance@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
