Accounts 2007-08

The increase in the block grant funding from the University was 3% and the trading areas contribution saw an increase of 41%.

Charitable & governance salary costs, excluding the nursery staff increase, were around 1.5%. Charitable other expenditure increased by around 25% and Governance other expenditure increased by around 14% There were no significant changes from the previous year in the areas of expenditure, except for the obvious increase due to the new nursery.

There was reduced expenditure on capital items of £87,124, significantly less than the previous year’s total of £266,160. This was a conscious decision to restore the Union’s cash reserves for future demands.

The Union made a comfortable surplus of £80,343 and the present level of funding is adequate to support the charity's activities and the trustees consider the financial position to be satisfactory.

The principal funding sources are the University block grant and the Union’s normal trading activities.

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