Issue 19: 8 February 2022

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SOAS SPIRIT

8 FEBRUARY 2022

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YOUR INDEPENDENT STUDENT NEWSPAPER

ISSUE 19

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SOAS Running Out of Money? Not This Year: £11.2m Surplus Announced

The sun sets on Senate House, the view from a SOAS classroom (Credit: Frances Howe)

Lara Holly Gibbs, MA Gender Studies In December 2021 SOAS released their financial statement for 2020-21. The statement announced SOAS’ £11.2 million unrestricted surplus as opposed to its 2019-20 deficit of £0.9 million. The document details SOAS’ finances as well as their Strategic Plan going forward. According to SOAS, their surplus comes as a result of ‘continued actions taken to monitor costs and strong student

recruitment.’ The statement explains how SOAS has returned to a surplus-generating position, following their Transformation and Change policy in which they aimed to lower spending by £17 million for their 2020-21 budget. This resulted in many cuts across the School. The document also showed that ‘total staff costs fell from £59.1m to £50.6 as the School completed its restructuring programme.’ Sandy Nicoll, UNISON Branch Secretary, told the SOAS Spirit that initially SOAS had projected an £18m deficit

which he claimed was SOAS ‘projecting the most negative imaginable numbers.’ He described the figure as ‘way outside of anything that is reasonable,’ saying that at the time had urged SOAS to wait until accurate figures were available before making such projections. He went on further to say that the projected £18m deficit was put forward to ‘scare people into accepting the cuts that they were trying to push through.’ Continued on page 3


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