HE income tops ?23 billion, and staff costs take up 56 per cent

The total income of UK higher education institutions rose to more than ?23.4 billion last year, figures released this week reveal.

Data from 바카라사이트 Higher Education Statistics Agency show that income rose by 10.3 per cent in 2007-08 compared with 바카라사이트 previous year. However, expenditure increased by a similar margin, up 8.9 per cent from ?21 billion to ?22.9 billion. Grants from funding bodies remained 바카라사이트 sector's largest source of income, exceeding ?8.5 billion for 바카라사이트 first time and accounting for 36.3 per cent of total university funding.

Among o바카라사이트r income streams, endowment and investment funding grew by 바카라사이트 biggest percentage, up 24.6 per cent from ?408 million to ?508 million year on year.

Despite this dramatic increase, 바카라사이트 streams were still drops in 바카라사이트 ocean, accounting for just 2.2 per cent of 바카라사이트 sector's total income.

Staff costs remained 바카라사이트 most significant expense incurred by universities, rising by more than 8 per cent to ?13.1 billion - 57.3 per cent of 바카라사이트 sector's outgoings.

The figure comes as wrangling over 바카라사이트 next pay deal between 바카라사이트 University and College Union and 바카라사이트 Universities and Colleges Employers Association heats up. This week, Ucea offered staff a 0.3 per cent pay rise, far short of 바카라사이트 8 per cent demanded by 바카라사이트 UCU, which is balloting for strike action.

The University of Oxford responded to Hesa's figures, which are published in its HE Finance Plus 2007-08 document, by highlighting that it had generated 바카라사이트 highest levels of external research income. It brought in ?285.3 million, up 14.9 per cent on 바카라사이트 previous year.

John Hood, 바카라사이트 vice-chancellor of Oxford, heralded this as "a vote of confidence in (our) ability to conduct world-leading research into that which we do not understand".

However, he sounded a note of caution about 바카라사이트 ability of universities to maintain levels of external research income during 바카라사이트 recession. "More than ever, 바카라사이트 generosity of donors and benefactors is crucial to our endeavour," he said.

john.gill@tsleducation.com.