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University reports good financial performance despite Coronavirus

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Published on 04 March 2021

University of Sunderland
University of Sunderland

The University of Sunderland published its financial statements and annual report for 2019-20 on 4 March 2021.

Despite the impact of the pandemic, the University has shown an underlying operating surplus of £5.1m, up from the previous year’s surplus of £4.2m. Its overall surplus has shown a break-even position – the figure before the adjustments all universities are required to make to their accounts in respect of pension schemes.

Commenting on these results, the University’s Vice-Chancellor and Chief Executive, Sir David Bell, said, “The sensible and careful approach we have taken to managing our finances has led to a positive set of results for 2019-20, even in the midst of a global pandemic. As a result, we have continued to provide excellent support to our students and staff, at the same time as investing in new services and facilities to enhance learning and teaching.

“COVID-19 has undoubtedly led to many pressures but our focus throughout has been maintaining the health, safety and wellbeing of our University community. Yet, we have also ensured that the pandemic has not disadvantaged our students’ learning and progression.

“We have successfully stabilised our finances over recent years, and grown our income and cash reserves. In addition, we now have plans in place to maintain our educational and financial sustainability in the years ahead, assured that our career-focused and professions-facing curriculum is more relevant than ever.”

 

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