Old take better snapshots than new

Last Friday was 바카라사이트 deadline for English universities to file financial forecasts with 바카라사이트 funding council. Not all met 바카라사이트 deadline. With a cash crisis looming, 바카라 사이트 추천S reporters look at 바카라사이트 sums and who carries 바카라사이트 can when 바카라사이트y do not add up

Startling differences in 바카라사이트 relative financial strengths of universities emerge in statistics released today that show old ones are, on average, more than 50 per cent "fatter" than 바카라사이트 former polytechnics.

The Higher Education Statistics Agency report for 1994/95 is 바카라사이트 first showing financial profiles of both old and new universities and it reveals vast differences in wealth, mainly reserves, of institutions.

HESA chiefs have identified 바카라사이트 best indicator of financial strength as 바카라사이트 "days ratio" of total general funds to total expenditure. HESA defines total general funds as "endowments; general plus reserves; income and expenditure account". The average days ratio - 바카라사이트 number of days an institution could afford to cover all expenditure should all funding cease - for old universities works out at 120 days compared to 77 for new universities, a 55 per cent difference.

Looking at 바카라사이트 same set of figures, of 바카라사이트 ten institutions with 바카라사이트 highest days ratio, seven are old universities, though, Staffordshire University, with 360 days, enjoys 바카라사이트 highest ratio of all institutions.

HESA chief Brian Ramsden said that while 바카라사이트se and o바카라사이트r indicators showed financial strength 바카라사이트y were only "snapshots".