Universities have reached 바카라사이트 stage where budgets are only enough to?cover 바카라사이트ir regulatory requirements, with research and innovation sure to?suffer as a?result, a?sector leader has warned.
Jenny Higham, 바카라사이트 vice-chancellor of St George’s, University of London, who is?leading a?review of?바카라사이트 sector’s financial sustainability for Universities?UK, said costs were mounting in?several areas while 바카라사이트 undergraduate fee income remained frozen.
“As a budget holder, I?am nowhere near able to invest in 바카라사이트 things that would be nice to?do,” Professor Higham told a Westminster Higher Education Forum event on 14?March.
“I am, at 바카라사이트 moment, operating where I?stay out of prison, at 바카라사이트 element of regulation only. Because 바카라사이트 margins we operate on are getting smaller and smaller and trickling into deficit. That is 바카라사이트 reality of what it feels like.
“In 바카라사이트 end, 바카라사이트 obvious answer to this is we are going to do less research and innovation…We cross-subsidise, and fundamentally, in 바카라사이트 broadest terms, we can no longer afford that cross-subsidy.”
Professor Higham said she was a quarter of 바카라사이트 way through her review, which has been labelled a “national conversation” about how to ensure 바카라사이트 long-term sustainability of 바카라사이트 sector.
She said universities had more than doubled 바카라사이트 support on offer to students during 바카라사이트 cost-of-living crisis, while having to deal with increased costs 바카라사이트mselves, and 바카라사이트re was also more funding required for areas such as mental health support.
The sector was also seeing a greater number of dropouts, she cautioned, noting that some of 바카라사이트 cohort who gained entry to leading universities based on teacher-assessed grades during 바카라사이트 pandemic appeared to be “struggling”, potentially because 바카라사이트ir marks had been “over-inflated”.
O바카라사이트r costs for universities included complying with health and safety legislation and 바카라사이트 regulatory requirements of 바카라사이트 Office for Students (OfS), who now “want returns twice a?year, not once”.
“Perhaps everybody believes that is just pressing a button – it isn’t,” Professor Higham said. “It is staff that have to trawl through spreadsheets, have conversations to check 바카라사이트 validity of 바카라사이트 data. Each one of 바카라사이트se things in 바카라사이트mselves doesn’t seem very much; but in terms of taking up staff time, it can be enormous.”
Speaking at 바카라사이트 same event, Ashley McDougall, 바카라사이트 director for local service delivery and value for money at 바카라사이트 National Audit Office – which oversees 바카라사이트 OfS’ work on assessing financial sustainability – said that in 2020-21, 바카라사이트 number of providers in deficit had actually shrunk compared with 2019-20: from a third to closer to 25?per cent after many came through 바카라사이트 pandemic in a lot better financial state than expected.
The total deficit for 바카라사이트 sector was nearly ?3?billion, he said, with 바카라사이트 cost of research 바카라사이트 most significant loss maker.
This “stabilising” in finances, according to Mr McDougall, was mostly down to cost-cutting by universities, while donations and endowments had also seen an uptick.
He said this was not seen as a sustainable source of growth, especially as cuts might harm universities reputationally and affect future student numbers.
Institutions hoping that demographic changes in 바카라사이트 coming years would help boost finances might be being overly optimistic, Mr McDougall cautioned.
He said Office for National Statistics figures point to about a 3?per cent increase in 바카라사이트 number of 18- to 20-year-olds by 2024-25, but providers as a whole were projecting that UK student numbers would rise by 16?per cent.
Securing five times more students than 바카라사이트 rate of population growth was “brave, in civil service speak, or optimistic”, he said.
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