Effective Financial Performance Puts University In Strong Position For Year Ahead
28 November 2011
Visitors enjoying a tour of the new gym on the Kedleston Road site
The University has reported a strong financial position at its year end, 31 July 2011, with an operating surplus (excluding pension adjustments) of £13.3 million.
Through cautious spending in uncertain economic times, the University has generated a larger surplus than that of 2010 (of £10.1m) and 2009 (£8.1m), and it pledges to re-invest these savings wisely to enhance its students' learning experience further.
The University of Derby (excluding the University of Derby Students Residences Ltd (DSRL)) saved more than expected through effective financial management. As a non-profit organisation which has no shareholders, any operating surplus generated will help to reinvest to improve facilities to benefit its students.
During the last year, a significant investment has been made to improve the University's sports facilities. In July, TV presenter and football legend Bob Wilson officially re-opened the Kirtley Building on its Kedleston Road site after a £3.4m refurbishment which created a spacious advanced gym, an auditorium and state of the art teaching spaces for education and sport science students.
The Harpur Hill sports complex which serves students at its Buxton Campus has also reopened following a substantial re-build. Students are now enjoying its large mixed-use sports hall, fitness suite, outdoor climbing wall and teaching space.
A further £1m worth of investment has been made to improve the University's campuses - with most of those projects now finished or close to completion.
- £200,000 in the Atrium at Kedleston Road. This included new lighting, flooring, ceilings, decoration and furniture
- £196,000 on the refurbishment of two laboratories in T1 for Geology. Installation of new worktops, floors and ceilings; and of new media teaching equipment
- £113,000 refurbishment of B2 computing area in B block. This included redecorating, installing video screens along the corridors to show students' work and short films, and the redesign of the technicians' area to make it more welcoming to visitors
- £28,000 on the refurbishment of Executive offices and reception area for the EHS faculty in E1.
Markeaton Street:
- £250,000 on the construction of a mezzanine floor in Auditorium Two, following on from a similar project in Auditorium One last year. The installation of new glazed partitions for the Street area, to create an improved social learning space.
Buxton Campus:
- A £145,000 re-design of the main entrance to The Dome. This will comprise new disabled access ramps up to a revolving glazed door and partitions to direct visitors past the reception desk. Due for completion by the end of the year.
- Work has commenced on a larger project aimed to improve the student experience in the Dome space. This has begun with the replacement of fixed computers with wireless laptops and will be followed by replacement furniture, to give the space a more relaxed feel.
University Deputy Chief Executive and Finance Director Hari Punchihewa said: "At a time when the external environment features so much uncertainty for us, it tests not only our financial resilience and sustainability but also the strength of leadership and management capability.
"The University's position of proven financial robustness and relative stability puts us in the best position to face the changing times of higher education ahead."
