St George's financial status

In 2004, 2005 and 2006, St George’s, University of London operated at a financial surplus and its forecast to do so for the following five academic years.

Contributing factors to this surplus included a staff restructure, which took place during 2002-04 and included transfers to the Trust and retirements — saving around £1m per annum. Diversification of courses and a corresponding increase in student numbers has added, and continues to add, around £2m per annum to our income from 2004/05 onwards. The QR Charity Support Fund from the Funding Council now adds £4m to our annual HEFCE grant. This was introduced in 2005/06 to compensate institutions who undertake high quality research for charities who do not contribute to overhead or infrastructure costs.