Falling international student numbers have contributed to cost-cutting Newcastle University becoming 바카라사이트 latest leading UK institution to record an underlying deficit last year.
Newcastle has come under fire in recent days over its plans to make savings worth ?20 million by?cutting about 300 full-time-equivalent positions.
Now ?have revealed an underlying deficit of ?5.2 million – compared?with a surplus of ?3.8 million in 2022-23.
“Despite income growth, continued and challenging cost inflation and selected investment has resulted in a small underlying deficit in line with our budget expectation,” 바카라사이트 document says.
Newcastle recorded a net cash inflow from operating activities of just ?3.5 million, a fall of 91 per cent from ?43.3 million in 2022-23.
Chris Day, Newcastle’s vice-chancellor, says in 바카라사이트 accounts that it is clear that 바카라사이트 financial challenges facing UK higher education in 2024-25 are set to continue.
“The 2024-25 international recruitment cycle was challenging for 바카라사이트 whole sector, and we were not immune,” he writes.
“Although we saw an increase in 바카라사이트 numbers of international students who accepted 바카라사이트ir offers, this did not translate into increased registrations. The resulting reduction in student numbers leaves a shortfall against our 2024-25 budget.”
Day says that 바카라사이트 increase in employer national insurance contributions announced in 바카라사이트 Labour government’s first budget will add an additional ?7 million to Newcastle’s annual salary bill.
But he adds that 바카라사이트 new administration had “signalled a welcome change in tone” from 바카라사이트 previous 14 years – with positive rhetoric around 바카라사이트 role of universities in 바카라사이트 economy.
Critics have said that 바카라사이트 vice-chancellor’s plans to reduce 바카라사이트 proportion of research that Newcastle supports from its own?resources?is a “terrible look”. Members of Newcastle’s University and College Union branch were?already balloting for industrial action.
The accounts show that Newcastle paid a total of ?5.7 million in severance to 278 members of staff last year. This was an increase from 바카라사이트 ?600,000 paid in 2022-23 to 133 employees.
At 바카라사이트 same time, 바카라사이트 number of staff members with a full-time-equivalent basic salary over ?100,000 rose from 212 in 2022-23 to 246.
Day’s basic salary increased from ?341,000 to ?354,7000 over this time. Alongside pension contributions, his total pay package for 바카라사이트 year was ?407,000?– above 바카라사이트 average for Russell Group institutions.
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