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Strategy 2014

Sustainability

Strategic Aim 6: to achieve and sustain financial strength to enable our academic ambitions, through a balanced portfolio of activities.

The financial strength of QMUL will be based on a careful balancing of ambitions and risks associated with our blend of activities; this approach will permeate all levels of the institution. The varying effects of externally imposed constraints on different academic areas will necessitate differential financial support across Faculties, Schools and Institutes. Through a careful assessment of risk, all academic units of QMUL will seek to balance their activities to achieve the optimum financial position consistent with their academic mission of knowledge creation and knowledge dissemination. We will grow our activities alongside a firm commitment to our environmental responsibilities.

In our educational programmes, we will be alert to opportunities for revenue enhancement but will not seek increased income at the expense of the quality of the student experience or through excessive expectations of our academic and professional services staff. In the education of non-UK students (Strategic Aim 4), we will seek to meet the strong demand from international students to study in London, balancing any associated risks with a measured commitment to e-learning (Strategic Aim 3), and an increased investment of academic and professional support in transnational education.

In research, we will continue to argue for the national benefits of UK government investment but recognise that excessive reliance on the UK public purse is unwise. We will therefore emphasise a diversity of funding sources, both public and private.

We will be rigorous in assessing value-for-money in all aspects of recurrent expenditure and in major investments. Our motivations for doing so include our position as a beneficiary of public support, and our determination to maximise our opportunities for innovative activity in knowledge creation and dissemination. We will be open to the prospect of creative alliances with well-chosen partners, where these serve the QMUL community and where our current size limits our ability to meet the aspirations of our staff and students.

In the absence of a significant endowment, we commit to achieving an increased income from philanthropic sources and a judicious use of borrowing (or equivalent), invariably backed by rigorous financial modelling. Crucially, however, the achievement of our Strategy and the long-term success of QMUL depends on the generation of funds from academic and related activities, sufficient to allow continued investment in our people, infrastructure and services.

Objectives:

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6.1 Achieve enhanced investment in resources and facilities, for the benefit of students and staff, with an appropriate balance of contributions from across all components of QMUL.

Indicator of ProgressTarget
Operating surplus as a proportion of turnoverAchieve a surplus equating to a minimum 7% of turnover by 18/19.
Condition of academic and residential estate, as defined by HEFCE through the Estates Management Statistics return.At least 95% of estate to be in condition A or B by the end of 18/19.
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6.2 Increase research income, derived from a greater diversity of sources, with improved coverage of full costs.

Indicator of ProgressTarget
Increase in research income per research academic.Top ten UK HEI by this measure by 18/19.
Proportion of research income from sources other than the UK public purse.Over 50% by 18/19
Average percentage recovery of research overheads.Exceed 15% by 18/19
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6.3 Increase income from educational activities through an enhanced portfolio of courses, and more effective use of resources.

Indicator of ProgressTarget
Net income from tuition fees and education contracts, per academicTop ten UK HEI by this measure by 18/19.
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6.4 Markedly increase income from philanthropic sources to support strategic objectives

Indicator of ProgressTarget
Annual income from philanthropic donations.Income of £12m by 18/19.
Pledges confirmed within-year totalling 15m in 18/19.