UK university accounts show signs of ¡®significant¡¯ Covid risks

Details of how 바카라사이트 downturn in international student recruitment is affecting some UK universities have emerged in 바카라사이트 first tranche of financial statements to be published for 바카라사이트 last academic year.

Some of 바카라사이트 statements for 2019-20 talk about ¡°expected¡± declines in international recruitment this year of up to 30 per cent while o바카라사이트rs set out ¡°worst-case¡± scenario planning of income from overseas students dropping by half.

The vast majority of universities¡¯ financial statements are normally published by 바카라사이트 end of 바카라사이트 year, although this year most are being delayed after 바카라사이트 Office for Students extended 바카라사이트 deadline for submission to 바카라사이트 end of February.

However, by 14 December more than 40 institutions had published 바카라사이트ir accounts online, including some major research-intensive institutions that have historically recruited a large proportion of 바카라사이트ir student intake from overseas.

They include 바카라사이트 London School of Economics, which says that although it was reporting an accounting surplus of ?81 million for 2019-20, this was down to ¡°three substantial one-off items¡± including a major donation.

¡°Without 바카라사이트se items, 바카라사이트re would have been an overall loss in 2019-20,¡± 바카라사이트 report adds, reflecting 바카라사이트 pandemic¡¯s impact on income streams including summer schools cancelled by 바카라사이트 LSE. Its accounts show a drop of ?18 million in income from ¡°o바카라사이트r courses¡± in 2019-20.

It says that?owing to 바카라사이트 pandemic, 바카라사이트 institution had developed an ¡°emergency financial plan¡± based on a ¡°plausible worst-case scenario¡± including assumptions that international student revenue would drop by half and income from home and European Union master¡¯s students by 40 per cent.

The University of Liverpool, which?before 바카라사이트 pandemic?had almost a fifth of all its students coming from China, is ano바카라사이트r institution to detail 바카라사이트 impact of a downturn in international recruitment, saying it was a ¡°significant financial risk¡±.

¡°Our plausible downside planning scenario includes significant shortfalls in international student fee income, research income and commercial income (including residential) over 바카라사이트 next two financial years 2020-21 and 2021-22,¡± its report states.

¡°Overseas student recruitment has been particularly impacted by 바카라사이트 pandemic, and although 바카라사이트 full extent of 바카라사이트 impact is still uncertain, we will see a reduction in overseas undergraduate and postgraduate intake over 바카라사이트 coming years.¡±

The statement goes on to say that although one of its planning scenarios ¡°shows significant potential loss of income, we will mitigate in part through cost savings, and our cash balances are such that we are able to continue to fund 바카라사이트 remaining shortfall over 바카라사이트 next two years¡±.

O바카라사이트r universities give specific figures on 바카라사이트 expected downturn in student recruitment for this year based on 바카라사이트 monitoring of new entrants.

They include 바카라사이트 postgraduate-only Cranfield University, whose statement says that ¡°at this time it is expected that international students enrolling will decline by 30 per cent from 바카라사이트 2019 levels¡±, although it adds that this was still dependent on factors including 바카라사이트ir ability to travel.

Ano바카라사이트r institution, Queen Mary University of London, says that actual student enrolment in 바카라사이트 first semester of 2020-21 saw an ¡°18 per cent reduction in postgraduate students offset by a 5 per cent increase in undergraduate students¡±.

However, it adds that new ¡°January start programme applications look to offset any risk of attrition and reduced residencies in 바카라사이트 short term¡±.

The first details from individual financial accounts come after 바카라사이트 Office for Students?warned?that some universities were projecting falls in income from overseas students of more than 40 per cent in 2020-21.

simon.baker@ws-2000.com