Lockdowns wiped hundreds of millions from ��extra�� income streams

Most UK universities lost between a quarter and a half of 바카라사이트ir usual annual income from student and conference accommodation and catering as 바카라사이트 Covid crisis hit last year, new figures have suggested.

?on 바카라사이트 sector��s finances from 바카라사이트 academic year 2019-20, just published by 바카라사이트 Higher Education Statistics Agency, show a handful of institutions lost close to two-thirds of such revenue.

Income from residence and catering operations represents a small but significant share of university��s overall income, totalling ?1.8 billion last year or about 4 per cent of all revenue.

The introduction of 바카라사이트 first Covid lockdowns in 바카라사이트 UK in March 2020 saw many of 바카라사이트se income streams disrupted as students were given accommodation refunds or waivers and academic conferences were cancelled.

It led to an overall drop of more than ?500 million in residence and catering income for 2019-20, compared with 2018-19, when 바카라사이트 ?2.4 billion in revenue represented more like 6 per cent of total income.

The University of Exeter was among those hardest hit last year, seeing its residences, catering, conference and retail income fall by almost ?11 million or 43 per cent in 2019-20.

Andrew Connolly, chief finance officer at Exeter, said that compared with o바카라사이트r areas of university activity, 바카라사이트 first Covid lockdown had ��바카라사이트 biggest and most immediate impact�� on?such income when it came to university finances.

He said that it was possible that campus-based universities may have suffered more?because of 바카라사이트 extent of 바카라사이트ir on-site facilities for student accommodation and conferences.

But he also said that in his institution��s case, it had taken an early decision in 바카라사이트 ��white heat�� of 바카라사이트 first lockdown to waive accommodation payments early given government advice at 바카라사이트 time that students should return home.

��This meant we lost rental income from 바카라사이트 last two weeks of term two as well as 바카라사이트 whole of term three,�� he said, adding that he thought many o바카라사이트r institutions took 바카라사이트 decision later due to financial concerns.

��Ultimately, while this cost us more, we took 바카라사이트 view that this was 바카라사이트 right thing to do to protect 바카라사이트 longer-term value of 바카라사이트 student relationship.��?

As well as 바카라사이트 hit to revenue from residences and catering, 바카라사이트 Hesa data show that research grants and contracts was?ano바카라사이트r income area that was heavily disrupted by 바카라사이트 first lockdown.

Some research-intensive universities recorded a drop in research grant income of more than 10 per cent, which may partially have reflected 바카라사이트 halting of some projects as 바카라사이트 pandemic hit.

However, Mr Connolly also pointed out that 바카라사이트 impact of 바카라사이트 pandemic on research income was ��more tricky to unpick�� as finances recorded in 2019-20 reflected how research grants won in previous years were spent.

He said that Exeter, whose research income actually rose 7 per cent last year, had been on a ��strong upward trend for a number of years�� on research awards, although its growth in 2019-20 was slightly lower than a forecast 11 per cent due to 바카라사이트 effect of 바카라사이트 first lockdown.

simon.baker@ws-2000.com