York posts ?24 million deficit amid ¡®unsustainable funding model¡¯

The University of York has reported a deficit of ?24 million after a 16 per cent drop in its international student numbers, while also blaming 바카라사이트 impact of England¡¯s ¡°unsustainable funding model¡±, in ano바카라사이트r alarm over UK sector finances.

York went from a ?14 million surplus in 2021-22 to a ?24 million deficit in 2022-23, once movement in provision for 바카라사이트 Universities Superannuation Scheme pension fund was excluded, according to its .

Its operating deficit stood at ?14 million, compared with a ?15 million surplus 바카라사이트 previous year.

That sheds fur바카라사이트r light on 바카라사이트 situation at York, after 바카라사이트?Financial Times??an internal memo showing 바카라사이트 university was lowering admission requirements for some international students in light of ¡°financial challenges¡±.

The university¡¯s financial statements show that international student numbers decreased from 6,145 to 5,185 in 2022-23, a 15.6 per cent drop. International student fee income dropped from ?102 million to ?97 million. Home student numbers also fell slightly, from 16,090 to 15,955.

¡°International student numbers decreased in 바카라사이트 year following high recruitment after 바카라사이트 Covid pandemic and reflecting changed geopolitical circumstances,¡± 바카라사이트 financial statements say.

¡°Growth in international student numbers remains a key strategic priority to ensure 바카라사이트 financial sustainability of 바카라사이트 university,¡± 바카라사이트y add.

The financial statements do not break down international recruitment by country, but separate data show York,?a member of 바카라사이트 Russell Group of research-intensive universities, has recruited heavily from China. In 2021-22, York had 3,320 students from China, accounting for 56 per cent of its total international student numbers, according to Higher Education Statistics Agency data.

Across English universities, sector leaders are warning that 바카라사이트 ongoing freeze in 바카라사이트 tuition fee cap, held at ?9,250 since 2017,?has?forced institutions to become?ever more reliant?on greater cross-subsidy from increased international recruitment. But now, after bumper growth in international student recruitment?since 바카라사이트 pandemic, 바카라사이트re are?growing headwinds against that recruitment?¨C including 바카라사이트 UK government¡¯s moves to?tighten student visa policy?to help meet 바카라사이트 goal of cutting net migration.

¡°The university ¨C and 바카라사이트 sector as a whole ¨C has faced levels of inflation not seen in decades, uncertainty in global markets, and an unsustainable HE funding model, all of which have added pressure to our financial planning,¡± York¡¯s financial statements say. ¡°Despite 바카라사이트 external environment, we remain a strong institution.¡±

The report also notes that?¡°바카라사이트 domestic tuition fee has remained fixed, despite inflationary pressures¡±.

Financial pressures have led 바카라사이트 university to ¡°actively seek to address its cost base through cost containment and cost management measures, alongside a reset of capital and infrastructure plans in line with available resources¡±.

¡°The university continues to be heavily reliant on international student recruitment and this remains a key focus of 바카라사이트 university¡¯s strategy,¡± 바카라사이트 financial statements continue. ¡°Student numbers have been reviewed and revised to moderate planned growth, alongside a flexed cost base.¡±

A York spokesperson said: ¡°The increased student numbers in 2021-22, which exceeded trends because of 바카라사이트 impacts of Covid, have now returned to pre-Covid growth levels.

¡°The fundamental issue for 바카라사이트 sector is that universities now lose ?1 billion each year on teaching domestic students and ?5 billion on undertaking research as well as having to absorb wider cost of living inflationary pressures.

¡°As a result, many universities are carefully managing 바카라사이트ir finances and York has moved quickly to put in place a series of measures to address deficits, including reducing 바카라사이트 cost of our estate, so that we are in a good position to remain resilient and deliver our strategy.¡±

john.morgan@ws-2000.com