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4.9% income growth
£163m Cash and investments
£16.8m Underlying operating surplus

Introduction: overview of performance

The past year has been a busy, challenging and hugely productive one for Manchester Metropolitan University. Universities continue to face significant challenges, with fierce competition for students and talented staff and intense scrutiny from the government and media about whether the higher education sector delivers value for money to our students, the economy and society as a whole.

Within that climate, the Board of Governors has transacted a significant amount of business aimed at driving the University forward. This has included approving new strategies for education, research and knowledge exchange, and internationalisation; as well as approving an estates masterplan covering £341m of investment in buildings to 2021; and a commitment to new information systems aimed at providing oversight to the whole journey of a student through their University life.

The Board also faced some very difficult decisions, most notably regarding the long-term sustainability of our campus in Cheshire. Following a year-long independent external review, we announced that we would be withdrawing from the campus at the end of the 2018/19 academic year. Of course, this was not an easy choice but we remain focused on ensuring that our staff and students in Cheshire have the best experience possible in the interim period. The decision to withdraw means that the future sustainability of the University as a whole is now better protected.

The University enjoyed a number of positive outcomes over the last year. A review of our governance concluded the University had in place a comprehensive framework and structure that conformed to sector best practice.

Achieving a Silver award in the Teaching Excellence Framework (TEF) has been an important milestone in our commitment to delivering the highest quality teaching, learning and outcomes for our students.

Our desire to continue to improve upon this even further is indicative of our ambition, as well as our wider strategic goals to work in close partnership with others, including communities in Manchester and the North West, leveraging the full advantage of our place at the heart of a global city.

The implementation of our new strategies for education, internationalisation, and research and knowledge exchange will be a big part of that future. Continued investment in research and teaching projects, as well as new facilities to improve the student experience, also show how we aim to improve our student and staff offering at every level.

Of course, this kind of investment is only possible with the sustained financial performance that we have been able to achieve in recent years. Our robust strategic approach, coupled with projects like our new screen school, poetry library and fuel cell centre, are just a part of what we hope will allow this to continue.

A number of long-serving Governors retired from the Board this year and I would like to thank them for their contribution to the work of the Board and the University. In addition, I am pleased to report that we have made some excellent new appointments to the Board and I look forward to working with them over the next year.

Finally, I know that I speak on behalf of all members of our Board in concluding that despite the challenges that the higher education sector faces, the achievements of the last year demonstrate that we are well positioned to succeed and collectively we look forward to the many opportunities that lie ahead.

Vanda Murray OBE
Pro-Chancellor and Chair of the Board of Governors
Manchester Metropolitan University

Financial Statements

The following documents are provided in Adobe Acrobat format:

Financial Statement 2016-2017

Financial Statement 2015-2016

Financial Statement 2014-2015

Financial Statement 2013-2014

Financial Statement 2012-2013

Financial Statement 2011-2012