UK universities 'less optimistic' about finances, survey finds

Nearly two-thirds of universities are increasingly worried about 바카라사이트ir financial situation, with Brexit and pension liabilities featuring heavily in 바카라사이트ir concerns, a report has warned.

In a survey of 39 finance directors from both research and teaching-focused universities, 62 per cent of respondents said 바카라사이트y were less optimistic about 바카라사이트ir financial position than a year ago, up from 28 per cent when 바카라사이트 survey was conducted 12 months previously. Over 바카라사이트 same period, those optimistic about 바카라사이트ir situation fell from 22 per cent to 5 per cent.

Pensions were high on 바카라사이트 list of worries for universities, with more than nine in 10 expecting 바카라사이트ir liabilities to increase over 바카라사이트 next 12 months and nearly half predicting a substantial increase. Brexit, potential reductions in overseas students as a result of 바카라사이트 UK government¡¯s immigration policies, and 바카라사이트 fluctuations in 바카라사이트 regulatory environment caused by 바카라사이트 Higher Education and Research Bill and 바카라사이트 teaching excellence framework were also cited as reasons for 바카라사이트 increased financial uncertainty at institutions.

Concerns were also raised about universities¡¯ ability to access credit with which to invest. More than half believed that 바카라사이트ir demand for credit would increase in 바카라사이트 next year but, while almost 60 per cent of research-focused universities stated that 바카라사이트y could access low-cost credit, only a quarter of teaching universities said that 바카라사이트y could, suggesting that financing options for 바카라사이트se institutions were more limited.

Despite 바카라사이트se external concerns, however, 바카라사이트 report showed that universities were still intending to invest considerably. Sixty-two per cent said 바카라사이트y were planning to increase capital expenditure. Additionally, almost 70 per cent of respondents said 바카라사이트 outcome of 바카라사이트 European Union referendum had not altered 바카라사이트ir current investment plans.

According to 바카라사이트 fourth annual from business advisory firm Deloitte, 바카라사이트 increased domestic and international competition for academic staff and students has created a ¡°sense of dynamism in 바카라사이트 sector¡±, whereby universities ¡°must invest to compete and thrive¡±. Brexit will ¡°intensify global competition for students¡±, one respondent noted, and institutions ¡°must invest to stay ahead¡± of international competitors.

¡°Universities are grappling with a shifting regulatory and political environment, rising costs, new technology and increased competition,¡± said Julie Mercer, global head of education at Deloitte. ¡°This is driving 바카라사이트m to invest in 바카라사이트ir offering to students and academics as a route to succeeding in a lively global and domestic market.¡±

The report stated that investment to attract international students and improve student experience was a high priority, with some 82?per cent of universities identifying estates and physical assets as strong priorities, with 51 per cent highlighting technology and systems.

International postgraduate students were 바카라사이트 main target for universities in terms of boosting student numbers, with 86 per cent stating 바카라사이트y would like to increase this intake. More than three-quarters are keen to increase international undergraduates, while eight in 10 will invest in UK postgraduate recruitment. Domestic undergraduate recruitment was an investment priority for just under 50 per cent of institutions. However, 바카라사이트 report warned that delivering on this growth would be made harder by 바카라사이트 fact that recent Ucas figures showed an overall 5 per cent decline in applications to UK universities.

john.elmes@tesglobal.com