Accounts 2006-07

The Union has had a very interesting financial year due to the opening of the new student village at the Frenchay campus

The following is an extract from the UWESU Financial Statements and Trustees Report 2006-07

Initially income did not meet the expected increase in levels and as a consequence expenditure needed to be reduced and a re-structuring exercise was
carried out in December. The revised budget at that stage indicated the Union would suffer a substantial deficit for the year. However the income in the final quarter at the Frenchay campus showed a 102% increase on the previous year which was totally unprecedented. In addition due to the anticipated financial position significant savings of over £43,000 had been made in expenditure. The net effect has been that the Union has made a surplus of £70,464, has net current assets of £138,019 and sufficient cash to meet its day to day requirements.

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