Value for money
The RAU is committed to providing our students with value for money across all areas of university life.
The Governing Council, Vice-Chancellor, senior executive team and heads of department consider value for money in all of their decision making processes.
The University strives to provide all our students with an outstanding educational experience by ensuring that all our programmes of study are relevant, innovative and intellectually challenging, while retaining a practical “real world” focus. This ensures that our graduates are highly employable with a strong value set who strive to make a difference to the communities they serve.
The retention and recruitment of high quality staff is a key priority, as people are our most precious resource who will ensure that students remain at the heart of our agenda. We are currently strengthening our academic staff team to ensure that our staff-student ratios are sufficient to ensure the best possible student experience. We are also reviewing the structure of all professional support teams to ensure that they also operate in an efficient and customer focused manner. Before they make any decision we require our staff to ask the question - ‘How does this provide value for money for students’?
We are also investing in our facilities and accommodation to ensure that we are constantly improving the amenities available to our students.
The University is also implementing a new procurement programme across all areas to ensure we purchase smartly and efficiently, keeping costs to a minimum.
The RAU manages its finances to enable it to both provide value for money for students whilst ensuring the long term financial sustainability of the university. The RAU is committed to being open and transparent about the income streams that we receive and how we spend them.
In 2016/2017 the total income at the Royal Agricultural University was £19.7m.
Tuition fees and education contracts provided the bulk of our income stream- £11.7m (59.4%).
The University generates income from other sources (including commercial activities) to help subsidise costs. The “other income” generated was £5.8m (29.3%).
The remaining income derives from a variety of sources including funding body grants (9.8%), research grants and contracts (0.8%) and donations, endowments and investments (0.7%).
In 2016/2017 total expenditure at the Royal Agricultural University was £19.3m.
The RAU spent £12.1m (62.7%) on its academic departments (staff & direct teaching costs), central administration & academic services (includes library, registry and IT services) and general support for education (student recruitment, outreach and widening participation).
£4.2m was spent on University premises and facilities in order for us to continue to maintain and upgrade the amenities available to our students.
Of the remainder, £2m was spent on commercial services enabling the University to generate £3.7m in income from commercial activities.
More detailed financial information can be found in our latest Annual Report and Financial Statement: 2016-2017.