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How is the Union financed?

The Students Union is a not-for-profit unincorporated organisation.  It currently has exempt charitable status derived from the University due to fact that under the Education Act, the University should have a representative body for students.

Because the Students Union delivers core representation, student support and sporting and recreational facilities, the University is able to fund through an annual block grant (currently £635,000pa). There are also a number of projects and programmes that the Union delivers that attract further smaller comitted grants, such as Money Doctors, Welcome Week, Access to Learning Fund workshops and Involved - the volunteering programme.

  It isn't that we don’t make a profit, because we do.

It's how we spend it that makes the big difference.

In the 2010/2011 academic year, the Union employed 240 students alongside a core staff team of 37 and 5 sabbatical officers, in order to deliver its portfolio of services. These range from Student Advice Centres, Sports Clubs and Societies, Student Shops, Juice Bar, Venues and common rooms, through to student media channels and the Summer Ball.

The cost of operating all these services is @ £1.8million this year(not including the cost of retail stock and food and beverages that are resold).

Because part of the Unions service portfolio are trading outlets, these are operated to be able to at least cover their costs. However, in order to provide the range of non-trading services, there is an additional need to bring in a surplus of £120,000 to add to the University grants each year.

Where possible this surpus is sought from non students, so advertising revenue generates 25% of the surplus and door entry prices are higher for non NUS entrants.

There are some added tax benefits from being a charitable organisation with supporting students at the heart of our purpose. This means that we do not have to charge VAT to students on our catering activity, allowing us to keep prices lower and also our sporting activity is also treated as VAT exempt.

 

Audited Accounts

2008 accounts

2008 accounts

2008 accounts

2010 accounts

accounts 2011
2006/7 2007/8 2008/9 2009/10 2010/11

 

 

 

 

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