University achieves financial stability but calls for more support for universities in Scottish Budget

Swift and effective measures to address the pressures affecting universities across the UK have helped to stabilise the University of Aberdeen’s finances.

The University’s governing body, Court, has now approved the latest annual accounts, which indicate a much-improved financial position.

Progress is such that the accounts do not, as last year, include an auditing phrase suggesting a degree of uncertainty about the University’s status as a going concern.

University Principal and Vice-Chancellor Professor George Boyne welcomed progress and applauded the work involved in reducing costs and generating revenue.

“I commend our community for their resilience and for all their efforts in getting the University to a much better place. This follows the recent news that we are in the top 15 in two major UK league tables and the National Student Survey. All that and a 30% increase in research awards, means we are well placed to grow our income to become an ever-stronger organisation delivering world class research and education.”

He added: “However I would highlight the need for the Scottish Government to at least match the 3.1% increase in revenue per student for universities in England, as a first step towards the funding Scottish universities require to be financially sustainable.”