Going forward, the level of reported surplus is expected to decline due to these investments leading to an increase in depreciation and added pressure on staff costs. This should be partially offset by an increase in student-related income, especially from overseas students, as the College’s new facilities become available.
The College also expects growth in donations and endowments reflecting the progress that has been made in Advancement and the increasing size of the Endowment. In addition to this the College continues to diversify its revenue base and generate new sources of cash as well as adopt a new support service operating model to control costs.
These results show that the College continues to be resilient in the short-term whilst the challenging external environment reinforces that discipline and long-term perspective are needed to ensure the College’s sustainability.
Mr Muir Sanderson
Chief Financial Officer