£15.5 billion income for the HE sector
2002/03 First higher education finance data released
The higher education sector had a total income of just over £15.5 billion in the 2002/03 academic year. This compares to almost £14.5 billion in 2001/02 and £13.5 billion in 2000/01. Today's figures are released as part of the first analysis of 2002/03 finance data by the Higher Education Statistics Agency.
Higher education institutions (HEIs) reported an expenditure of just under £15.4 billion in 2002/03. In 2001/02 expenditure was £14.4 billion and £13.5 billion in 2000/01.
The 2000/01 academic year was the first year that HESA records showed a deficit (of £50.5 million) in the finances of the HE sector. However, a surplus of just over £64.3 million was recorded in 2001/02, which has grown to just over £210 million in 2002/03.
The number of institutions recording a deficit has decreased from 75 in 2000/01 to 48 in 2002/03. The biggest deficit held by any single one institution in 2000/01 was just over £18.3 million. In 2002/03 the biggest deficit held by a HEI had fallen to £6.2 million.
The data is released ahead of more detailed analysis due to be published later in the year in the annual reference volume, Resources of Higher Education Institutions, 2002/03. This publication will also contain an examination of staff at HEIs.
Notes for Editors
- Financial data in this press release is as stated in each individual academic year. Restated figures have not been used and so some numbers may differ slightly from some other publications.
- Deficit/surplus figures have been calculated as income minus expenditure.
- There were 171 instittuions in the 2002/03 HESA Finance Statisitcs Return, 171 in 2001/02 and 167 in 2000/01.
- The Reference Volume: Resources of Higher Education Institutions, 2002/03 is due to be available in June 2004. This will contain further breakdowns and more detailed information on both the finances and staff of HEIs in the 2002/03 academic year. HESA also provides an Information Provision service for tailor made data enquiries. Telephone 01242 211133 for more information.
- HESA is the central source for higher education statistics. HESA was set-up in 1993 following a Government White Paper ‘Higher Education: A New framework’, which called for more coherence in higher education statistics.
- Press Enquiries should be directed to Press Officer at HESA, 95 Promenade, Cheltenham, GL50 1HZ; telephone: 01242 211133