Financial statements and Governor's report 2015-16 by Staffordshire University

FINANCIAL STATEMENTS AND GOVERNORSâ&#x20AC;&#x2122; REPORT 2015/16 staffs.ac.uk

CONTENTS Chair’s Introduction

Vice-Chancellor’s Report

Operating and Financial Review

Strategic Planning

Annual Public Benefit Statement

Campus Transformation

Centres of Excellence in Healthcare Education

The Thornhill Collection

Higher Apprenticeships

International 20 Partnerships

Faculty Reports

Sport at Staffordshire University

Student Experience

Research and Enterprise

Employability 32 Sustainability 33 Risk Report

Corporate Governance

Responsibility of the Board of Governors

List of Governors, Executives and Advisors

Auditor’s Report and Opinion

Consolidated Statement of Comprehensive Income and Expenditure

Consolidated and University Statement of Changes In Reserves

Consolidated and University Balance Sheet

Consolidated and University Cash Flow

Statement of Accounting Policies

Notes to the Accounts

Staffordshire University. Financial Statements and Governors’ Report 2015/16

FINANCIAL STATEMENTS AND GOVERNORS’ REPORT 2015/16

CHAIR’S INTRODUCTION The financial year 2015/16 has been

will continue throughout 2016/17

gave freely of her wisdom, experience

another year of change, development

with investment in collaborative,

and time, acting as a mentor and an

and inspirational student success for

technology-equipped learning

inspiration to many. She will be

Staffordshire University.

spaces across the University.

missed greatly.

•

Improving our Guardian League

We are very proud of all our students’

Table position; published in May,

Finally, my personal thanks to our

achievements and appreciate very much

we showed a rise of 14 places from

students, staff, Governors and all of our

the role played by our dedicated staff

83 to 69.

friends and Partners who contribute to

in this.

•

Being a top provider for the delivery

the University’s success. We have much to be proud of and much to anticipate.

of higher and degree

As ever, the challenges in the Higher

apprenticeships - a position that we

Education sector continue - with

aim to build on in the future.

Further details of our achievements are

increasing competitiveness in the

•

We were also identified as number

outlined in the following pages, which I

market, demand for up-to-date

one for computer games courses –

encourage you to read.

programmes to equip students with

an area which helps us to grow our

the skills that they need to enter their

reputation for digital technologies.

David Gage MBE

chosen career and complications

•

Greater efficiencies through

Chair of the Board of Governors

around recruiting international

implementation of better systems,

students. The Education White Paper

processes and structures.

has the potential to change how our

•

Delivering a surplus and significant

performance is measured and assessed,

capital investment, demonstrating

with the aim of further improving the

good financial management and

choices and experience of students.

our desire to invest in our future.

To get ahead and stay ahead, we need to continually reassess the needs of

Professor Michael Gunn retired as

students, delivering programmes that

Vice-Chancellor and Chief Executive in

they want in ways that suit them.

March 2016, and I acknowledge here his leadership and unstinting work over the

In response to this, we have spent

last five years.

valuable time developing a new Strategic Plan. This has been submitted

On 1 April 2016, Professor Liz Barnes

to our Board for approval and launched

took up the role of Vice-Chancellor and

across the University soon after. I am

Chief Executive. We are delighted that

confident that it will put us in a strong

Professor Barnes has joined us and look

position, enabling our students to

forward to her leadership through the

achieve to the maximum.

next exciting phase in our University’s journey.

Notable successes in the financial year 2015/16 include:

I pay tribute to the contribution made

•

Delivering a campus transformation

passed away this year. Ruth joined the

programme that has enabled us to

Board as an Independent Governor in

sell our Stafford Beaconside

2010 and served as Chair of Education

site, and invest £46 million in our

Committee (formerly Academic

Stoke-on-Trent campus as well as

Standards and Quality Committee).

our Centres of Excellence in

She was also Deputy Chair of Audit and

Healthcare Education at Stafford

Risk Committee and of Nominations

and Shrewsbury. This programme

and Governance Committee. Ruth

by Dr Ruth Thompson who very sadly

staffs.ac.uk

VICE-CHANCELLOR’S REPORT I am delighted to have taken the role of

a fantastic week. Graduation is

fast-track degrees that enable

Vice-Chancellor and Chief Executive of

a time when we can reflect on what

graduates to enter the world of

Staffordshire University. Since I joined

Higher Education is all about. As I

work more quickly.

on 1 April, I have discovered fantastic

talked to students, parents and

people who are passionate in what they

families and listened to our

do, and brilliant inspirational students.

Students’ Union representatives

Staffordshire University has much to be

in their speeches, I was struck by

proud of – a proud history of delivering

the power that education has

vocational degrees, a transformed

to transform lives. Our graduates’

campus environment with great

stories are not just about the

potential, and impressive partners that

positive employment outcomes, but

The focus for the coming year will

can really enhance our offer.

about the broader impact on

be launching the new strategic plan,

their lives. We produce well-

developing our research capability,

There is still more work to do to ensure

rounded graduates ready to ‘take

improving the overall quality of delivery,

that we fulfil our potential, to position

on the world’.

building strong relationships with

us as market leaders and ensure that

•

Confirmation of what we do

schools and colleges in the region,

we offer the very best education and

well - we have a strong pedigree

playing an influential role in our City,

experience to our students.

in computing and digital

county and region, investing in our

technologies. We have recently

digital and campus experience and

We have developed a new strategic

been identified as the number one

responding to the Education White

plan – we will be The Connected

provider of computer games

Paper.

University, dedicated to the success

courses and we are renowned for

of our students, our staff and the

cybercrime courses. Our forensic

I would like to say a personal thank you

organisations that work with us.

and crime science courses

to my predecessor, Professor Michael

Putting our students first, we will be

are delivered in partnership with

Gunn, who paved the way for a smooth

introducing new strategies around

Staffordshire Police and have a

transition into the role.

connecting communities, innovative

growing reputation. Our creative

and applied learning, and talented

arts courses continue to thrive and

I would also like to thank our University

people. Our values are to be ambitious

include some niche, internationally

community for welcoming me and

and inspirational, brilliant and friendly,

recognised courses such as comic

for everything they do to make

curious and daring, and most of all, we

arts and puppet making.

Staffordshire University great – I very

will be Proud to be Staffs!

•

Our leading role in new work-based

much look forward to working with them

routes to education - Staffordshire

in the days, months and years to come.

We have ambitions to grow over the

University is powering the future

next five years by focusing on what we

of higher and degree

Professor Liz Barnes

are good at and being really good at

apprenticeships where there is the

Vice-Chancellor

it. I am very confident that the future is

potential for us to work with

exciting for Staffordshire University and I

businesses large and small - we

am delighted to be leading it.

are a leading university provider.

Since I started, personal highlights for

With the impending introduction

me have been:

of the Apprenticeship Levy in

•

Our Awards Week, which is held

April 2017, we are placing this high

at the picturesque Trentham

on our agenda as it presents us with

Estate – nine ceremonies over five

a great opportunity to help upskill

days celebrating the achievements

our Staffordshire workforce. We

of more than 3,200 students. What

continue to offer high quality

Staffordshire University. Financial Statements and Governors’ Report 2015/16

WE PRODUCE

WELL-ROUNDED

GRADUATES

FINANCIAL STATEMENTS AND GOVERNORSâ&#x20AC;&#x2122; REPORT 2015/16

staffs.ac.uk 5

OPERATING AND FINANCIAL REVIEW Constitution and Activities

leave entitlement, and changes in

These results include adjustments for

The University is a Higher Education

the presentation of actuarial pension

FRS102 – Accounting for Retirement

Corporation, as defined under the

valuations annual deficits, are the key

Benefits. The impact of this accounting

Education Reform Act 1988.

adjustments in comparison with 2014/15

standard on the income and

published financial statements prepared

expenditure account remains volatile

The powers of Higher Education

under previous UK GAAP. The University

and reflects changes in assumptions

Corporations are defined in Section

has chosen to continue to account for

that affect pension assets and liabilities

124 of the Act and include the power to

government funded capital grants over

over many years. Its impact this year

provide Higher and Further Education

the life of the assets that these grants

was to reduce the surplus by

and to carry out research and publish

have funded, matching the annual

£14.9 million (2014/15 by £14.2 million).

the result of research as the University

depreciation charge with a recognition

Excluding these FRS102 adjustments,

thinks fit.

of grant income. The balance of capital

the operating surplus increased to

grants deferred of £19.3 million is now

£6 million (2014/15 £4.1 million).

The University was incorporated in

required to be reported as a long term

November 1988 and on 1 April 1989

creditor rather than as a source of funds

Income

all properties, rights and liabilities

as under previous accounting practice,

Income mix has changed significantly

which had been used and/or held

thus reducing total net assets.

over the past few years due to the new tuition fee regime. We have

by Staffordshire County Council for the purposes of the University were

The Financial Statements comprise the

seen a reduction in Funding Council

transferred to the Higher Education

consolidated results for the University

Grants and an increase in academic

Corporation.

and its subsidiary undertakings,

fees. Continued focus on student

Staffordshire University Enterprises

recruitment, progression and income

The University also enjoys exempt

Limited, The Friends of Staffordshire

diversification is vital to ensure our

charitable status under the Act. On 16

University Charitable Trust and

financial sustainability.

June 1992, the Privy Council confirmed

Staffordshire University Unitemps Ltd. The investment in the campus during

its formal approval of a change of name from Staffordshire Polytechnic to

The subsidiaries undertake a range

2015/16 and planned investment

Staffordshire University under the terms

of activities including consultancy

going forward, our digital agenda,

of the Further and Higher Education Act

work, the operation of recreational

consolidation of our portfolio around

1992.

activities and property management

the awards that our students want and

for a variety of commercial and other

a new partnership and international

Scope of the Financial Statements

organisations. The taxable profits of

strategy will all ensure that income

the subsidiary undertakings are gifted

grows in the future.

These are the first financial statements

back to the University under a covenant

that are prepared in accordance with

arrangement.

the Financial Reporting Standard

Expenditure Staff costs at 55% of total costs have

applicable in the UK and Republic

Results for the Year

reduced from 56% the previous

of Ireland FRS102 and under the

The University’s consolidated income,

year despite pay inflation. This is

Statement of Recommended Practice:

expenditure and results for the year to

predominantly due to the centralising of

Accounting for Further and Higher

31 July 2016 are summarised as follows:

our administration teams supported by new technology, enabling us to offer an

Education 2015 (FE HE SORP 2015), which has required the restatement of

In 2015/16 the University and its

improved service to students, as well as

2014/15 as a comparative year.

subsidiaries made an historical cost

reducing our costs. This demonstrates

deficit of £8.9 million (2014/15

the University’s continued focus on

The adoption of a valuation of certain

£10.million). Income decreased by 3.9%

driving efficiency through improved

land and buildings as ‘deemed cost’,

to £114 million, whilst net expenditure

processes, systems and structures.

inclusion of an accrual for annual

decreased by 3.5% to £112 million.

Our above average student/staff ratio

Staffordshire University. Financial Statements and Governors’ Report 2015/16

FINANCIAL STATEMENTS AND GOVERNORS’ REPORT 2015/16

OPERATING AND FINANCIAL REVIEW (Guardian league tables) demonstrates

Lane in Stafford and at Royal Shrewsbury

The Teachers’ Pension Scheme (TPS)

our commitment to preserve the ‘front

Hospital. We also have a hub in

is deemed a multi-employer scheme,

line’ activity that has the greatest impact

Lichfield. Investment in these estates

and the University’s share of its assets

on our performance.

and facilities is key to ensuring that

and liabilities cannot be separately

our facilities are attractive to potential

identified. As such the University has

Non staff costs are impacted by a £1.4

students and that we offer the best

taken advantage of the exemption

million increase in depreciation as a

experience possible. That is why we

in FRS102 and has accounted for its

result of the investment in the campus

committed to an investment programme

contributions to the scheme as if it were

during 2015/16. However, the underlying

in 2015/16 of £46 million to improve

a defined contribution scheme. There

operating cost base has reduced by

the overall quality of our estate. This

are, however, some pension liabilities

1%, as a result of a continued focus

investment also enabled us to close

related to Teachers’ Pensions which are

on controlling costs and in particular,

the Beaconside site, consolidating our

not funded through the scheme. These

a better buying programme ensuring

main activities onto the main campus

liabilities are valued on the University’s

that we achieve greater value from our

in Stoke-on-Trent, while developing

balance sheet at £9.5 million (2014/15

providers.

our two Centres of Excellence. Our

£11.1 million).

students asked us for one main vibrant

Surplus

campus and that is what we will provide

We continue to deliver surpluses with

for the academic year beginning in

Liquidity and Long-term Financing

a pre-pension adjustment surplus of

September 2016. The Beaconside

The University had net debt, as at 31

£6 million in 2015/16, which is 5.3% of

site will be sold during 2016/17 and

July 2016, of £0.2 million (2014/15 net

income. Our medium-term financial plan

the sale proceeds will enable us to

funds of £16.7 million). This reduction

which takes us to 2020, continues to

carry out further refurbishment of our

is due to the investment in the campus

plan for surpluses.

remaining campus. Over £5 million of

during 2015/16. Cash at bank and in

the campus investment was spent on

hand was £44.5 million (2014/15 £62.9

Cash Flow

complete refurbishment of the Centres

million).

The table (on page 45) summarises the

of Excellence, providing a strong,

major cash movements during the year

long-term presence in Stafford and

On 17 September 2007, the University

ended 31 July 2016, including capital

Shrewsbury.

refinanced its existing loans of £14.8

investments.

million, with a new term loan of £16

Pension Liability

million, repayable over 27 years. The

The consolidated Cash Flow Statement

Retirement benefits for employees

interest payable on this loan was fixed

shows cash inflows from operating

of the University are provided by

at 5.2% for its duration. The loan is

activities of £12.8 million (2014/15

defined benefit schemes. The financial

part of a larger Convertible Revolving

£12.8 million). Payments to acquire and

results include the impact of Financial

Credit Facility (CRCF) of £50 million.

improve fixed assets totalled £35 million

Reporting Standard 102 – Accounting

This facility was provided by Lloyds TSB,

(2014/15 £10 million) and net cash

for Retirement Benefits (FRS102) for

its purpose to provide funding for the

outflow before financing at £12.9 million,

the benefits covered by the Local

University’s future capital programme.

was a £6.6 million increase on the prior

Government Pension Scheme (LGPS).

The remaining £34 million was drawn

year (2014/15 outflow £6.2 million).

This accounting standard requires the

down on the 2 September 2013 as a 25-

After allowing for financing drawn in the

inclusion, within the accounts, for the

year year term loan, at a fixed interest

year, net cash decreased by £3.3 million

University’s share of any net deficit in the

rate of 3.2%.

(2014/15 £3.4 million increase).

scheme. Full disclosures can be found in note 27 - Pension Costs. As at 31 July

Capital Investment

Treasury and Financing

2016, the Group’s estimated share of

Cash deposits are invested in

During the year, the University operated

the LGPS net deficit was £102.4 million

accordance with the University’s Treasury

from two primary campuses; Stafford

(2014/15 £87.4 million).

Management Policy. This was reviewed

and Stoke-on-Trent, with Centres of

in the year and additional counterparties

Excellence for Healthcare at Blackheath

added to spread the risk associated with staffs.ac.uk

OPERATING AND FINANCIAL REVIEW the additional cash balances. The prime

Income increased by £1.3 million due

Movement between investments and

requirement of the Policy is to ensure

to the release of Non-Government

cash and cash equivalents reflect

that the capital sum is not at risk, whilst

deferred capital grants.

deposits held for less than three months

achieving a rate of return commensurate

and cash and short-term deposits

with deposit rates achievable on

Expenditure increased by £2.5 million

held for more than three months.

the London Money Market. Interest

with the additional charge on the

Endowments are included within cash

receivable decreased to £0.4 million

pension scheme of £2.3 million, holiday

and cash equivalents.

(£0.5 million in 2014/15) due to lower

accrual of £0.4 million and depreciation

cash balances. Interest payable at

was reduced by £0.2 million by

Debtors movements relates to inter-

£4.9 million includes an FRS102

realigning the major refurbishment of Sir

company.

adjustment of £3.2 million and loan

Stanley Matthews Sports Centre to the

interest payments of £1.7 million

existing buildings useful economic life.

Revaluation On first time adoption of FRS102

(2014/15 – interest payable £4.7 million includes FRS102 interest of £2.9 million

Donations of £0.06 million previously

the University is able to consider its

and loan interest payments of £1.8

included within other income are

policy in relation to the revaluation of

million).

reported separately.

fixed assets, as there is a once only opportunity to change policy and the

Payment of Creditors

The revaluation reserve release

value used for costs at 1 August 2014.

It is the University’s policy to agree terms

increased by £0.4 million following

FRS102 allows the option to revalue

with all suppliers. The University’s policy

the revaluation of the Science Centre,

a selection of assets once as at 1

is then to abide by the specific terms

Lichfield, Clarice Cliffe, Ashley and

August 2014 and to establish this as the

made in those agreements.

Brindley.

deemed cost, which then does not have to be revalued on a regular basis.

Governors’ Remuneration

Loss on disposal of assets of £0.1

Surveyors GVA BiLFINGER were

Governors receive no remuneration from

million previously included within

engaged to provide a full valuation on

the University in respect of activities

other operating expenses are reported

land and buildings at Stoke-on-Trent,

undertaken while acting as Governors,

separately.

Blackheath Lane and Lichfield.

other than in some circumstances, travelling expenses.

Balance Sheet Fixed assets increased by £30.3 million

FRS102 Impact Income and Expenditure:

which included £12.9 million in land

2014/15 - Pre FRS 102 surplus was

million Science Centre, £4.3 million

£3.9 million excluding the £12.9 million

Lichfield, £3.8 million Clarice Cliffe, £2.7

actuarial loss in respect of pension

million Ashley and £0.8m Brindley).

scheme (deficit was £9.0 million

Depreciation reduced by £0.2 million as

including pension scheme loss). The

per above.

and £17.4 million in buildings. (£5.6

impact of the transition to FRS102 and the 2015 SORP in the 2014/15

The Thornhill collection was included as

statements was to reduce the surplus

a Heritage Assets at £3.8 million as an

by £0.7 million to £3.2 million excluding

average of the Sotheby’s auction sale

the £10.6 million actuarial loss in respect

estimate.

of pension scheme (deficit was £7.4 million including pension scheme loss).

Deferred capital grants of £28.2 million

Actuarial loss in respect of the pension

were re-categorised between creditors

scheme reduced by £2.3 million.

falling due over one year and creditors falling due within one year.

8 Staffordshire University. Financial Statements and Governors’ Report 2015/16

FINANCIAL STATEMENTS AND GOVERNORS’ REPORT 2015/16

STRATEGIC PLANNING The University is currently delivering a

environment for the development

DTF enabled us to challenge existing

strategic plan for the period 2012-2017

of ideas and new business. It also

ways of working, draw on best practice

entitled Securing Successful Futures.

demands a commitment to evidence-

and ask colleagues to consider the

Within this plan, our vision and strategic

based work, taking opportunities as

University’s changing operating

intent is to be a vibrant, modern,

they arise, agility, supporting creativity,

environment. The programme helped

relevant, vocationally and professionally

and being effective and efficient.

us work towards a new sustainable

inspired university, with three specific

operating model. The outputs from

goals. These are:

Excellence

the workstreams were embedded in

•

to be the best modern teaching

Our commitment to excellence

business planning for 2016/17 and have

university in a student city in the

demands, that through continuous

provided a solid basis to develop our

heart of the country

improvement and transformative

new strategic plan.

to be known for our learning and

change, we strive for the highest

teaching and our distinct and

standards and levels of achievement,

By the year end the new Connected

•

specialised portfolio

both academically and as a business,

University strategy was in final stages of

to create a responsive, student

seeking to be enterprising and

development.

orientated business.

responsible, and at the forefront of the sector.

This includes the culture of putting students at the heart of everything

Partnership

we do.

Partnership for us means working with others with diligence, application,

Our mantra for the student experience:

openness, transparency, integrity,

•

Recruit and Retain

honesty, professionalism, in

•

Challenge and Support

collaboration and with a commitment to

•

Achieve and Employ

inter-cultural dialogue and freedom of

•

Creative and Innovative

areas of inquiry.

•

Enjoy and be Proud. During the year, a major strategic

This is all built on our values and

planning exercise was undertaken

strong culture.

through a cross-university initiative called Designing the Future (DTF). The

People Focused

programme was operated with a small

Being people focused for us means

core project support team and the

respecting and valuing everyone’s

involvement of all Faculties, Schools and

contribution to our University

Services. Critical to the effectiveness

community. We have a long-standing

of DTF was a non-hierarchical and

commitment to equality, diversity, social

cross-functional approach. It was a

inclusion and mobility. We see these

highly collaborative process with active

as central to our success in building an

input of hundreds of staff and students

inclusive and welcoming environment

through a variety of workshops. The

for all. We are a people organisation

central team provided business analysis

and it is we - the staff - who will make

input.

the difference and deliver this plan. To give focused attention to critical

Innovation and Enterprise

aspects, 12 work streams were

Being innovative, enterprising

established, each under the leadership

and entrepreneurial for us means

of a member of the Senior

encouraging creativity and taking

Management Team.

balanced risks. It requires a supportive staffs.ac.uk

ANNUAL PUBLIC BENEFIT STATEMENT The University is a not-for-profit

We have a strategic partnership with

The object of this Trust is to enhance

organisation and its mission is to

Staffordshire University Academy Trust

the quality of outcomes for the pupils

provide and deliver Higher Education to

(SUAT) which currently comprises

within our academies and of the wider

a wide spectrum of students and other

four schools and continues to grow.

community to advance, for the public

customers. In providing these services,

The Regional Schools Commissioner

benefit, education for students of

the University seeks to enhance the

has recently approved applications

different abilities between the ages

students’ development and, in so

to join the Trust from a further four

of 3 and 19. The synergy between the

doing, improve their communities thus

Staffordshire schools. The Trust has

academies, their wider partners and

enhancing the general public good.

access to an experienced team of

the University is leading to improved

educational improvement partners,

practices, economies of scale and

The Board of Governors and University

many of whom are based within, or

an increasing range of learning

management, in setting the University’s

connected to, the University’s School

opportunities for both practitioners and

strategy and planning its activities,

of Education. The School, which is an

students.

make reference to, and consider

outstanding Initial Teaching Training

carefully, the guidance on public benefit

(ITT) provider, is a key strategic

Staffordshire University also collaborates

issued by the Charity Commission.

partner engaged to support the Trust’s

with Higher Education institutions and

educational objectives and improve

other local organisations to provide

Our strategies and vision are

standards. Academy improvement

a range of events and facilities that

underpinned by our key principles and

activity is bespoke to the needs of each

are available to people within our

activities towards the public good.

academy.

communities. We host many public

Teaching and learning are the principal

lectures throughout the year.

ways in which the University makes a

Staffordshire University Academy

contribution to wider society. Rooted

Trust contributes to a wider enrichment

We provide business support,

in Staffordshire University’s strategic

activity which is demonstrated by:

consultancy, skills development and

plan, is our continued commitment

•

University students working as

research, to businesses and individuals

to being an open and accessible

ambassadors and on placements

to help them maintain a competitive

institution that proactively encourages

•

visits by Trust academies to

edge. We encourage and support the

people from all backgrounds to

the University campus, including

creation of start-up businesses, helped

aspire to higher education. We are

participation in the Holocaust

through our Business Villages. Our

committed to breaking down barriers

Memorial event

Business Villages have a long history of

and encouraging active participation,

•

a Professor of Paediatric Cardiology

supporting University students/alumni

raising attainment and aspirations,

embarking on three-year

and have a county-wide base of small

encouraging engagement and

longitudinal study with academy

business owners and entrepreneurs.

admissions to Higher Education.

pupils and a local Premiership

football team to improve health

The University is also a key local

We do this by ensuring pathways to

outcomes

employer and helps with the economic

Higher Education are available through

•

provision of media support and

and social growth of the region.

our work with other educational

marketing expertise for the brand

Improving employability is vital for

providers. For example, we work closely

identity of the Trust and its

individuals and contributes to their

with schools and colleges, targeting

academies

pupils and students from as young as

•

support for professional

Year 5 through the Children’s University,

development programmes and

The University also has a long history

to students in FE Colleges and Sixth

subsidised places on courses

and commitment to widening

Forms in Years 12 and 13, with in-school

•

support for international links

participation and social inclusion.

and on campus activities, as well as

particularly in China and

The Office for Fair Access (OFFA)

mature learners via the Step Up to HE

Scandinavia.

programme.

health and wellbeing and the economy.

approves our plans annually, including enhancing opportunities for underrepresented groups.

Staffordshire University. Financial Statements and Governors’ Report 2015/16

FINANCIAL STATEMENTS AND GOVERNORS’ REPORT 2015/16

ANNUAL PUBLIC BENEFIT STATEMENT Through our access and outreach

Archaeology and Genocide

first evidence of microplastics being

activities, we aim to ensure students

Investigation, was awarded the

ingested by deep-sea animals.

are not discouraged from entering

European Archaeological Heritage Prize.

Dr Claire Gwinnett, Associate Professor

Higher Education because of financial

The prize is awarded for an outstanding

in Forensic and Crime Science at

pressures. To support these objectives,

contribution to the protection and

Staffordshire University, has been

we operate a generous bursary scheme.

presentation of European archaeological

working with scientists who took

In 2015/16 we made bursary payments

heritage and Dr Sturdy Colls received

samples from creatures including hermit

of £599,000 to 514 students and

the award in recognition of her research

crabs, squat lobsters and sea cucumbers

awarded fee waivers totalling £193,000

on Holocaust sites across Europe. Her

at two sites in the mid-Atlantic and

to 213 students.

work has included investigations at

south-west Indian Ocean, at depths of

Treblinka extermination and labour

between 300m and 1800m. Using the

We are fully committed to supporting

camps in Poland, Serbia, Germany and

latest forensic laboratory techniques,

students with disabilities and we aim

on the island of Alderney. This work

Dr Gwinnett was able to determine the

to provide individually negotiated

has led to the identification of mass

microplastics had been ingested by

support programmes that can include

graves, camps and killing sites. She

deep sea creatures. The study, funded

guidance and help with applications

has published widely on her work and

by the European Research Council (ERC)

for disabled students’ allowances,

has participated in a wide range of

and the Natural Environment Research

specialist academic support, and help

educational programmes in order to

Council (NERC), was a collaboration

with mobility along with modifications

disseminate her findings. Most recently,

between the University of Oxford, the

to estates and infrastructure where

she has curated Finding Treblinka

University of Bristol, the Natural History

necessary.

(along with Michael Branthwaite), which

Museum in London, and Staffordshire

opened as a permanent exhibition at

University’s Department of Forensic and

The University’s research activities have

the Museum of Struggle and Martyrdom

Crime Science, which made sure the

impacted on businesses in addressing

in Treblinka in August 2015.

results were robust and the study was

real-world problems and influenced

free from potential contamination.

the wellbeing of the wider society. Our

Dr Sturdy Colls has also worked with

research within clinical biomechanics

colleagues in Computer Games Design

The University has also created new

and human performance, has furthered

and partners including Staffordshire

online resources for teachers to help

our understanding of diabetic foot

Police, Advanced Laser Imaging and

tackle bullying and discrimination in

disease and has the potential to change

Epic Games, to develop new digital

classrooms across Europe. The free

the clinical management plan for

recording methods for use by forensic

training includes an online course,

millions of people around the world.

archaeologists and crime scene

toolkit and didactic manual, and was

In addition, the research within this

investigators – which won the Innovative

developed following research carried

group, funded by the World Health

Digital Applications Award category

out with educational partners in

Organisation through the International

at the O2 NextGen Digital Challenge

Turkey, Greece, Germany, Spain and

Society of Prosthetics and Orthotics,

Awards held at the House of Lords.

Italy as part of the @Mindset project,

has shaped the development of

The Dig For-Arch project featured on

a two-year initiative co-funded by the

policy on rehabilitation services in

BBC Crimewatch, showcasing an initial

Erasmus+ programme of the European

the developing and under developed

reconstruction which allows the Police,

Union. The course content and format

regions of the world. The University

scientific experts or jury members to

was developed with feedback from

has strong international and industry

complete a virtual walk-through of a

educational professionals dealing with

collaboration in this area to ensure that

crime scene using a Virtual Reality (VR)

issues of discrimination on a day-to-day

this translational research reaches the

motion capture headset.

basis. In addition to online user-testing,

neediest population at the earliest stage.

over 30 teachers and youth workers from Following the news that the UK

across Europe came to Stoke-on-Trent in

Government is to ban plastic

March 2016 to take part in a successful

This year, Dr Caroline Sturdy Colls,

microbeads by the end of 2017, a

trial of the course, which received

Associate Professor of Forensic

group of scientists have discovered the

excellent feedback. staffs.ac.uk

CAMPUS TRANSFORMATION The Campus Transformation Programme

floor, extensively equipped with the

Transformation Programme, with every

latest learning technology and flexible

aspect ready on schedule for teaching

In 2015 we set out to create

furniture, and fantastic views across

in September 2016.

Staffordshire University’s renewed

the City. Delivering these new and exciting

city campus at the heart of Stoke-onTrent, one that would provide the best

On the other side of College Road

spaces while we continue our teaching

possible student experience. We have

are the brand new Cadman Studios,

has been challenging. By working

invested more than £40 million to make

an £11.5 million development that

closely with academic colleagues

this a reality, including:

includes state-of-the-art TV and music

and students, we have managed to

•

relocating our Beaconside

technology studios, based in an

negotiate a lot of essential works,

provision to Stoke-on-Trent

enhanced social space - the Cadman

relocating teaching into areas outside

•

creating new computing labs to

Courtyard.

the works when necessary. We have

expand our cutting-edge offering

also sought consultation with local communities, both before and during

•

creating new computer gaming

Alongside the advanced music and

labs to further drive our reputation

TV studios, computer games design

the construction phases, gaining much

as the leading university for

studios have also been introduced,

positive interest and support.

computer gaming technology

including a dedicated, larger motion

•

creating new state-of-the-art TV

capture studio and easily accessible

Ready for the future

and music technology studios

resource centres. This new layout

Throughout the transformation, we’ve

•

creating new flexible teaching

creates fantastic opportunities for cross-

made sure every space is as connected

rooms in modern, comfortable and

subject collaboration in the future.

and future-ready as possible. One

inspiring surroundings

•

creating new café and social

example of this is the installation of

The Beacon Building

AV screens with writable surfaces and

The Beacon Building is a brand new

flexible furniture, to enable different

£5.5 million facility for all students

pedagogic approaches and a richer

As part of The Campus Transformation

to enjoy. Beacons are used to help

learning experience.

Programme, we have also created two

navigate towards a specific location,

new Centres of Excellence in Healthcare

and were historically used to celebrate

To excite our digitally-savvy students

Education, based at our Stafford and

important events. The name was chosen

and accommodate our School of

Royal Shrewsbury Hospital sites, with

following staff suggestions and a

Computing, we’ve also invested an

£5.5 million investment in new specialist

student vote, and The Beacon Building

additional £7.8 million into Science,

facilities.

marks and celebrates the University’s

Technology, Engineering and

relocation of course provision from

Mathematics (STEM) for new computing

All of this work was undertaken in

Stafford to our enhanced new city

and games facilities. The project -

consultation with our students, and

campus on College Road. Standing

named Digital Kiln - merges beautiful

marks the beginning of our commitment

three storeys high, the iconic, silver,

learning spaces with state-of-the-art

to a continued process of consultation

metal-clad structure is based at the

technology.

and improvements, that will provide

heart of the University’s creative site.

brilliant learning and teaching facilities

Among the modern and multi-functional

The next stage of our developments

and great social activities.

spaces inside are 12 timetabled

will remain student-focused, including

teaching areas and general teaching

the creation of a number of informal

The Mellor building now houses

rooms, flexible multi-sized spaces for

learning spaces across campus, and

our specialist computing labs and

lectures, IT labs, seminar spaces, and a

refurbishment of many of our existing

engineering labs. These new facilities

new public café to replace The Pavilion.

teaching and learning spaces including

spaces.

deliver a vibrant, dynamic environment

the Brindley Building, a new Business

with brilliant learning and teaching

A major undertaking

School facility, and the re-cladding of

facilities. This includes a large, open-

Overall, we have invested nearly

our Blackstone Building.

plan social ‘Collision Space’ on the top

£46 million as part of our Campus

Staffordshire University. Financial Statements and Governors’ Report 2015/16

FINANCIAL STATEMENTS AND GOVERNORSâ&#x20AC;&#x2122; REPORT 2015/16

staffs.ac.uk 13

CENTRE OF EXCELLENCE IN HEALTHCARE EDUCATION Following the closure of our

we can recruit an unlimited number of

Excellence concept ensures students

Beaconside site in Stafford, our

students, though this also means we

can gain continual support from their

nearby Blackheath Lane site now

don’t have the security of a guaranteed

peers.

houses our Paramedic, Operating

number of places and have to secure

Department Practice, Nursing and

matching placement places.

Midwifery students at the Centre of

DIVERSE PLACEMENTS

What we’re offering

We offer the widest breadth of

We have recently undertaken extensive

placements available, in a diverse mix of

This campus has had £5 million

research to create a proposition

locations and disciplines. Students are

investment into its facilities, creating

for the launch of our new Centres

based within community, hospital and

completely refreshed learning spaces,

of Excellence. We’ve identified six

specialist unit settings, ensuring they

a new library, clinical skills labs,

key areas of strength that will help

are exposed to a range of patients and

ambulance entrance, café and social

establish our new campuses and drive

scenarios.

spaces. It has also been relaunched as

recruitment.

Excellence for Healthcare Education.

the Centre of Excellence in Healthcare Education, offering students a dedicated facility and learning space.

WE MAKE YOUR FEES WORK HARD

INDIVIDUAL ATTENTION

Many students worry about the financial

Our Centres of Excellence are

implications of starting a new course. So

Our Centre of Excellence in Healthcare

dedicated and specialist, meaning

we make students’ fees work hard, from

Education based at our Shrewsbury

smaller teaching groups get a wealth of

DBS checks and uniforms, to Microsoft

Campus has also undergone a full

attention and care.

Office and online training tools.

refurbishment. Both sites now allow our students to learn in state-of-the-art facilities with equipment they will use in practice when they begin their careers.

INDUSTRY-LEADING FACILITIES At Staffordshire University we’re exceptionally proud of our two

Challenges in the sector

dedicated Centres of Excellence

The sector has recently seen big

in Healthcare Education. Extensive

changes in how healthcare students are

investment ensures students are trained

funded. Historically, students’ university

using state-of-the-art technology and

fees were covered by a Government-

equipment. Alongside our clinical skills

funded bursary, but this will stop with

laboratories, we offer a fully-functional

effect from our September 2017 entry

operating theatre suite, a training

and students will have access to loans

ambulance for use in the clinical field,

like other undergraduate students.

as well as simulation mannequins for hands-on training.

The funding changes could act as a deterrent to some potential students.

HAPPINESS AND WELLBEING

Many healthcare students are mature,

The student support we offer at

with families and low incomes, therefore

Staffordshire University is a vital and

we expect this segment to be severely

central part of our values. Our academic

impacted.

open door policy, as well as our mentoring and wellbeing service, all

This does however provide us with an

help to ensure students adapt to their

opportunity. Without bursaries, place

new life at university. Support doesn’t

allocations are no longer capped and

just come from the staff – the Centre of

Staffordshire University. Financial Statements and Governors’ Report 2015/16

DEDICATED SPACES WITH PEOPLE LIKE YOU Because of the dedicated nature of each campus, everyone a student encounters will be going into healthcare in some way. This means they can share experiences and learn from each other both on campus and in our shared accommodation.

FINANCIAL STATEMENTS AND GOVERNORSâ&#x20AC;&#x2122; REPORT 2015/16

staffs.ac.uk 15

THORNHILL COLLECTION TO BENEFIT FUTURE STUDENTS A rare collection of oriental ceramics

Governors took the decision to sell

Photojournalism student Richard

bequeathed to Staffordshire University

off at auction, a single item from the

Holmes said: “Seeing the Stem Cup

has been secured for future students.

collection – a rare Ming Dynasty Stem

sell was an amazing experience – a

Cup - so that the remainder of the

high-profile auction is something that I

In 1944, the 270 piece Thornhill

collection could be made available

didn’t expect to be photographing and

Collection was donated to the

as a study resource. Prior to its sale at

documenting whilst I was at University,

University by London Chemist, Ernest

auction in Hong Kong, the University

but to do it in Hong Kong was extra

Thornhill, who wanted it to be used as a

also took steps to make sure that an

special … when the gavel finally fell, it

study resource.

exact scale replica of the Stem Cup was

was great to see the reactions of those

produced.

connected with the Stem Cup.”

The Collection contains Chinese wares along with a small number of Korean

Vice-Chancellor Professor Liz Barnes

and Japanese pieces. The earliest

said: “The Thornhill Collection is

pieces in the Collection belong to

historically important and it has

the Shang (1700 –1028 BC) and Zhou

enabled us to raise the funds to

(1027–221 BC) dynasties. Ceramic

professionally house the Collection. Our

experts, Steven Moore and Anna

commissioning of a replica Stem Cup

Westin, have advised that the collection

will enable the Collection to be viewed

is a rare and rich resource for students,

in its entirety.”

academic researchers and professional practitioners.

The Stem Cup, which dates back to circa 1425-1435 and bears the six-

After years in storage, the Collection

character mark of the Emperor of China,

was rediscovered in 2013 but the value

Xuande, sold for £3.6 million on 31 May.

had increased significantly to the point where the University was unable to

The sale was attended by two students

house and display it securely.

from the Faculty of Arts and Creative Technologies.

16 Staffordshire University. Financial Statements and Governors’ Report 2015/16

FINANCIAL STATEMENTS AND GOVERNORSâ&#x20AC;&#x2122; REPORT 2015/16

staffs.ac.uk 17

18 Staffordshire University. Financial Statements and Governorsâ&#x20AC;&#x2122; Report 2015/16

FINANCIAL STATEMENTS AND GOVERNORS’ REPORT 2015/16

HIGHER APPRENTICESHIPS Higher and Degree Apprenticeships

•

motivate, up-skill and upgrade

are a new type of apprenticeship. Both

existing teams

offer an ‘earn while you learn’ route

•

attract - and retain - the highest

with an embedded Higher Education

level of staff

New developments which will be launched in 2016/17 include the following Degree Apprenticeships:

qualification, to help employers recruit

•

benefit from home-grown talent.

•

Chartered Manager (Level 6)

•

Digital Technology Solutions

Learners are developing awareness

Professional (Level 6)

of the benefits too. Since their employer

•

Chartered Legal Executive (Level 6).

new staff or develop their existing workforce. As Government approved, nationally

pays the fees whilst the learner earns

accredited work-based programmes,

a salary, the proposition of Higher and

In addition to the delivery of

these new apprenticeships have been

Degree Apprenticeships is becoming

apprenticeships, the University is

designed with the input of employers

increasingly compelling. Recent

involved in a wide range of employer-

to meet the specific higher skill levels

research commissioned by the CMI

led trailblazer groups. Our academic

they need. They include qualifications

(March, 2016) has discovered a shift in

experts are providing support to

between levels four to seven, equivalent

parental attitudes to apprenticeships

employers in sectors including digital

to Higher Education degree or

with an increasing focus on long-term

industries, management, health,

postgraduate programmes. Students

employment prospects. The research

healthcare science, automotive

gain a recognised qualification that

suggests 61% of parents surveyed

engineering and policing. Their input

provides them with technical knowledge

would rather their child took a Degree

is supporting employers to design

alongside professional skills and

Apprenticeship with a major company

and develop assessments to ensure

business competencies.

than an Oxbridge degree.

apprentices reach the required

Apprentices are employed for at

Current programmes include IT,

least 30 hours a week in a specific

Software, Web and Telecoms

occupational role, allowing them to put

Professional with Vodafone;

The aspiration is to recruit 500 new

their knowledge into practice in the

Management with F Ball and Perkins

apprentices on Higher and Degree

workplace.

Engines; Health (Assistant Practitioner)

Apprenticeships in 2016/17 from a

with eight regional NHS Trusts following

wide range of public and private sector

The Government has plans to introduce

mental health, acute care or peri-

organisations.

an apprenticeship levy – a payroll tax

operative care pathways. More than 150

equivalent to 0.5% of payroll. This is

apprentices started their apprenticeship

intended to raise £3 billion to drive

at Level 4 and above with the University

apprenticeship activity, as employers

in 2015-16.

standards of knowledge, skills and behaviours.

can reclaim their tax paid if they use

Expert business managers have

Staffordshire University currently offers apprenticeships in the following areas:

developed strong employer

•

IT, Software, Web and Telecoms

relationships to position Staffordshire

Professional (Level 4)

University to become the largest

•

Management (Level 5)

university provider of Higher and

•

Health - Assistant Practitioner

Degree Apprenticeships in 2015/16,

(Level 5)

enabling employers to:

•

Advanced Manufacturing (Level 4).

it to buy apprenticeship training and education.

•

improve productivity and

business performance

staffs.ac.uk

INTERNATIONAL Staffordshire University is undertaking

2. We regularly review our

in partnership with Stoke City FC. This

a number of strategies to ensure we

international portfolio to ensure that

three-month programme for 58 Chinese

are best placed to attract international

our courses remain highly relevant

soccer coaches raised the profile of our

students looking to study in the

to the international marketplace.

sports programmes significantly.

UK and respond to the changing international landscape including the

3. Wherever possible, we are also

International Scholarship Programme -

Governmentâ&#x20AC;&#x2122;s recent tightening of the

underpinning the quality of our

driving attainment and linking

rules surrounding Tier 4 study visas

programmes through their

achievement with reward. In its first year,

(affecting international students wanting

association with research or specific

the programme recognised the efforts

to complete a sandwich degree), and

areas of expertise.

of 10 students, four of whom achieved

to make certain we manage our visa refusal rates.

first-class honours. 4. Capitalising on our unique portfolio

to drive interest in Staffordshire

An income-generating summer school

Our key approaches are as follows:

University, notably, Ceramics,

with Tokyoâ&#x20AC;&#x2122;s high-ranking Nippon Sports

1. Following an audit and review, we

Computer Gaming and

Science University.

have tightly defined our recruitment

Programming, Sport and Puppetry.

markets across East Asia, Europe,

the Middle East, South East Asia

Recent initiatives

and South Asia.

Football Coachesâ&#x20AC;&#x2122; Summer School run

FINANCIAL STATEMENTS AND GOVERNORS’ REPORT 2015/16

PARTNERSHIPS Universities are all about enhancing life

We are respected both nationally and

many UK FE partners under the UK

choices and transforming lives – and,

internationally as one of the leading

Area Review. We have supported our

at Staffordshire University, we pride

providers of transnational learning. Our

partners through Quality Assurance

ourselves on recruiting students not just

reputation is further reinforced by our

Agency (QAA) visits and by putting

locally and regionally, but nationally and

expertise in costing partnership activity

together action plans to address areas

globally.

and ensuring that the cost of supporting

in need of enhancement.

our partners is fully recorded. To achieve this, we work with a wide

Other challenges relate to resourcing

range of partners. Some are close to our

Valuable income source

the quality monitoring of a large

campuses in the UK; others are much

Our success in working with partners

portfolio and have resulted in the

further afield, across Europe, Africa

also provides an important source of

termination of some arrangements

and Asia.

revenue. In 2015/16, income from our

that do not dovetail closely with the

UK partnerships exceeded £2.3 million,

University’s plans.

Connected Communities

with income from our international

Our partnership activity helps to

partnerships totalling £4 million.

connect communities and contributes to

During the coming year, we intend to: •

Streamline our portfolio, to ensure

the social and economic development

Our key partnerships in the UK include:

all partnerships fit strategically with

of the regions in which we operate. It

Stafford College, Newcastle-under-

the emerging University plans.

delivers real-world learning in a global

Lyme College, Stoke-on-Trent College,

•

Support local partners through

context and helps to build social and

South Staffordshire College, City of

mergers resulting from the Area

economic capital, all whilst contributing

Stoke-on-Trent Sixth Form College,

Reviews.

to our work at a local level.

Burton and South Derbyshire College

•

Host a UK partnership conference

and Shrewsbury College. Our key

to share good practice and enhance

Partnership activity allows us to be

international partners include: APU,

the sense of community.

highly versatile in the way we provide

Malaysia; APITT, Sri Lanka; Gulf College,

•

Explore the benefits of expanding/

access to Higher Education. We have

Oman; and British University, Vietnam.

diversifying our offering for high

specially adapted awards and provide

performing partners, including

flexible study opportunities for local,

As a further endorsement of our quality,

Higher Apprenticeships and

mature, part-time and international

2015/16 saw an expansion of our

work-based learning, to give our

students whose family, financial or

programmes with some partners and

graduates the edge in the

work commitments – or geographical

the successful review and revalidation

employment marketplace.

location – prevent them from studying

of others, to ensure that courses remain

on campus. Wherever possible, we also

employability-focused and relevant.

facilitate progression to on campus awards at both undergraduate and

Our July graduation ceremonies

postgraduate level.

provided an important reminder of the significance of our partnerships, with

As an indication of our success in

several hundred graduating students,

forging global partnerships, we are

from our local partners; The National

currently one of the largest providers

Design Academy in Nottingham,

of transnational education provision

Raindance in London and from our

with, at year end, some 18,500 students

international partners in Ghana and

studying in their own country towards

Sri Lanka.

carefully monitored Staffordshire University awards. At the same time,

Challenges

around 3,600 students were studying

The challenges we face include a rapidly

with our UK FE and private provider

changing UK policy environment and

partners.

the announcement of mergers between staffs.ac.uk

ARTS AND CREATIVE TECHNOLOGIES The Faculty of Arts and Creative

Pattern and Drama, and this year,

Showcase event attracted 35+ social

Technologies (FACT) incorporates the

four course, achieved 100% of overall

enterprise businesses and the University

School of Art and Design, the School of

satisfaction in NSS. Ten more scored

received HEFCE’S National Award for

Film, Sound and Vision and the School

above the University average.

Innovation in Partnership and Ecosystem

of Journalism, Humanities and Social Sciences.

Research

Development.

In preparation of the next Research

We are working with Stoke-on-Trent

Over the last year, the entertainment

Excellence Framework (REF), the Faculty

City Council to assess the social value of

awards have relocated from Stafford to

launched new Research and Enterprise

the city being awarded City of Culture

Stoke-on-Trent, with brand new state-of-

strategies. Research active staff work

status in 2021, supporting the bid to be

the-art facilities in the Cadman Courtyard

in two research groups: Critical Politics

submitted in 2017.

housing Games Design, Music, Film, FX/

and Society and Creative Contemporary

VFX and a TV studio. The relocation has

Practice, both headed up by a professor.

provided the Faculty with opportunities

Both areas received input from external

Student and graduate successes

to explore synergies between subject

consultants.

In the School of Film, Sound and Vision, Drama graduate Amit Shah starred in

disciplines, resulting in new projects and Among these were Dr Peter Lamb’s text

Stag on BBC2 and Crashing on

on Karl Marx for Bloomsbury, which led

Channel 4. He also acted alongside

to his participation in the BBC’s Marx:

Dame Helen Mirren in The Hundred

Genius of the Modern World.

Foot Journey.

of Blackboard Journals for practice-

The outputs of the research group

In the School of Art and Design, final

based subjects. New video conference

Creative Contemporary Practice have

year Surface Pattern student Chelsea

software (Blackboard Collaborate Ultra)

been as diverse as its members, for

Imlack won the W’Innovate & Wilko

was used to connect with Channel 4 HQ

instance, Anna Francis’ research project

Award at New Designers in London.

for a masterclass from the Presentation

that tests the viability of a disused pub as

Schedule Executive.

community space.

We are also taking the curriculum

Head of Declarations at the Organisation

outside the University. Middleport

Impact of selected enterprise activities

Pottery host a range of student

The Faculty has launched a Coaching

he is part of a team awarded the Nobel

placement activities involving History,

and Mentoring Hub as a first step

Prize for their work removing all chemical

Fine Art and 3D Design. Fine Art and

towards its ambition to become the

weapons from Syria.

3D Design held their Level 5 show at

Staffordshire Centre of Excellence. This

Middleport, open to the public. 2D

will provide support for local people and

We have a student working at the UN,

Design and Surface Pattern responded

organisations in the private, public and

and another who is a legal advisor to

to a brief to create relevant souvenirs for

third sectors. We are currently mapping

the International Atomic Energy Agency.

the museum shop - the prototypes are

the significant coaching and mentoring

Many of our students work in the field

expected to go into production over the

capability and expertise across the

of development – with roles ranging

next year.

county, working with organisations like

from working for the UK Department

Stoke-on-Trent City Council, and the

for Development in Uganda to teaching

Fire Service.

refugee children escaping ISIS in

awards.

Innovative learning and teaching This year, we piloted the introduction

Vital Source has been introduced to our

Another student who deserves a very special mention is Nihad Alihodzic. As of the Prohibition of Chemical Weapons,

Northern Iraq.

distance learning courses, giving access to materials whenever and wherever

Our growing Social Enterprise

students are.

Programme attracts a range of local

Finally, eight of our graduate journalists

social entrepreneurs. To support

have covered the Olympic Games in Rio

Courses are experimenting with

this activity, the University signed

– more than any other university.

innovative curriculum delivery models,

a Memorandum of Understanding

such as focused block delivery in Surface

(MoU) with VAST. The Social Enterprise

Staffordshire University. Financial Statements and Governors’ Report 2015/16

FINANCIAL STATEMENTS AND GOVERNORS’ REPORT 2015/16

BUSINESS, EDUCATION AND LAW The portfolio of the Business School

standard courses, although the numbers

University is renowned as a leading

has evolved over the past year, with

on awards (such as primary) have

provider of legal education.

the validation of a foundation degree

been capped by the Department for

in partnership with Alton Towers and a

Education. Masters and postgraduate

To ensure all undergraduate law

new BSc Digital Marketing. The MBA

awards are growing, including the

courses taught at the School remain

programme has been relaunched. All

successful EdD which took a new intake

fresh and relevant, the entire

our subject areas are currently engaged

in March 2016. Our partnerships also

undergraduate programme was

in the ongoing development around

remain strong: the FdA Education

revalidated during 2015/16. At the

Higher Education Apprenticeships.

and FdA Early Childhood Studies are

same time, a new ‘non-qualifying’

still the largest partnership awards

undergraduate award - BA (Hons)

Employability

within the University and show some

Criminology and Offender Management

In line with the University’s focus on

excellent partnership modelling and

- was validated and will see its first

employability, the Faculty makes

collaboration. The teaching training

intake of students in September 2017.

extensive use of e-Coach and engages

awards in the post-compulsory sector

with a range of externally facing events

are based on a partnership model.

such as Global Enterprise Week. The

The Law School’s work with prisons and various sectors of the Criminal

Business School has also received

The School has led on innovative

Justice System, confirmed the need for

the Small Business Charter Award in

awards such as the national Troops

a recognised degree-level qualification

recognition of its work in supporting

to Teachers and PGCiE in China and

for individuals wishing to work in areas

small businesses, start-ups and their

delivers Early Years Teacher Status

such as offender management, the

local economy. The award brings

awards – one of 40 providers nationally

Prison Service, the Probation Service

together world-class business schools

permitted to offer the award.

and offender rehabilitation. It is

and small and medium enterprises

envisaged that BA (Hons) Criminology

and communities across the UK, and

In April 2016 OFSTED made their Stage

and Offender Management will fulfil

we’re now one of 31 business schools

1 inspection visit to the School. Initial

that need.

nationally to receive it.

feedback was positive for all four areas (EYTS, Primary, Secondary and PCET).

The Business School continues to

2015/16 also saw the introduction of MA Human Resource Management

produce high-impact research in the

Over the past year, there has been a

and Employment Law. The entire area

area of Economics, whilst in Education

large investment in the development of

of human resource management and

Dr Katy Vigurs has been conferred as

staff and technology enhanced learning.

the Law surrounding employees has

Associate Professor. She and Jim Pugh

Investment in tablet (iPad) technology

expanded considerably over recent

are now joined by Duncan Hindmarch

continued in the Business School

years. Delivered by blended learning

on the University’s Teaching Excellence

alongside flexible learning spaces in

and face-to-face teaching, the course

Academy.

the School of Law, to develop problem-

has been designed to provide a

based and Flip learning approaches.

specialist route for graduates looking

Successful Awards

These approaches will be further

to enter HR, as well as a starting point

The School of Education continues

supported by the development of the

for those seeking elements of CIPD

to offer a range of successful awards

Ashley Building to create an improved

accreditation.

spanning the education sector.

Business School teaching facility.

2015/16 has seen the largest full-time

Finally, in November 2015, the Law

undergraduate population in the

The School of Education is expanding in

School held its highly successful annual

School in Early Childhood Studies and

its consultancy capacity. One example

Law Careers Fair. Bringing employers

education-based awards. Part-time

of this is the school development work

from across the West Midlands to

studies in the same disciplines have

with the Staffordshire University Multi-

Stoke Campus, the event provided

also seen large cohorts at our Stoke-

Academy Trust.

valuable employment and networking

on-Trent and Lichfield campuses.

opportunities for students.

Teacher training for the compulsory

The Law School

school sector continues to offer high

The Law School at Staffordshire staffs.ac.uk

COMPUTING ENGINEERING AND SCIENCES We deliver a range of industrially

feedback from Juniper is that this is

Applied Data Analytics, MSc Internet

relevant Science, Technology,

the best event they have ever

of Things and BSc Computer Games

Engineering and Maths (STEM) related

attended, not only in terms of

Programming (VR). Professor Marc

courses that focus on making graduates

the organisation and the hard work

Jones has joined as shared Associate

highly employable and prepared for the

from staff, but also in terms of the

Dean with Health Sciences for

challenges of the workplace.

attendance, attitude, engagement

Scholarship, Enterprise and Research,

and enthusiasm of everyone

and Alasdair Dawes has helped

The undergraduate and postgraduate

involved.

refocus our team as the Faculty Head

courses provided can be studied on

•

Ambitious outreach activities

of Enterprise.

campus, with partners here in the UK or

including the Faculty’s sponsorship

overseas, online by distance learning,

of KMF’s Young Engineer of Year

or as part of a work-based programme

Award.

Keeping things running smoothly We made sure students knew what was

of study. Apprenticeship and bespoke professional development courses

In the spotlight

happening at all times – students and

for industry, also form part of the

We’ve enjoyed a number of highlights

staff were invited to visit the Mellor

Faculty portfolio including significant

in our research and Research Excellence

Building to witness first-hand the

relationships with employers such as the

Framework (REF). The Centre of

essential and valuable changes that

RAF and Bentley Motors. We’re a hub of

Archaeology won Marie Sklodowska-

were taking place, as well as to whet

technical research and innovation with a

Curie funding to conduct a project

their appetites for the facilities due in

successful history of knowledge transfer

concerning virtual crime scenes which

September.

activities.

received national UK TV coverage and won an O2 NextGen Digital Award. The

Working with the Students’ Union

There have been a wide range of

Centre also supported two mainstream

and the Faculty of Arts and Creative

achievements and awards during

TV programmes - about finding

Technology, we arranged coaches

2015/16, including:

Shakespeare and Treblinka death camp

and evening entertainment to allow

•

Development of bespoke degree

- while the Green Wall Research Centre

Stafford-based students to experience

course with Leoni Wiring Systems

was featured on BBC Midlands Today to

the Stoke-on-Trent campus, to highlight

to suit their high-level education

highlight the leaf samples we are taking

the facilities available.

and training needs.

from Green Screens immediately along

•

Formal launch of Forensics

the A38 in Birmingham.

Excellence partnership with

Staffordshire Police.

Epic events

experience in their last year at the

•

Successful continuation of the

Our 50 years of Computing celebrations

campus, and many of the 50 Years of

Vodafone Higher Apprenticeship

It was important that we ensured the Stafford students had a positive

continued throughout the year,

Computing events were run on campus

Scheme.

culminating in a reunion of graduates

alongside planned retention activities.

•

Winning a £50,000 HEFCE grant to

from the first cohort who attended the

These included a community day,

develop an MSc Engineering

2016 graduation ceremony. As well as

GRADEX, an ‘it’s a knockout’ event,

conversion course for industry.

GRADEX, the Faculty has hosted several

a trip to Bletchley Park, public and

•

Establishing an externally-chaired

other major events and conferences,

professorial lectures, hackathons and

Engineering Advisory Board with

including the International UPEC

boot camps with industry. Staff and

senior level industrial membership.

Conference the National POLCON

students enthusiastically engaged with

•

Winning an MOD tender for

Conference and the University’s first

these, with some events capped due to

entomology service to categorise

Digitech Conference.

the numbers wanting to take part.

insect findings and provide training.

•

Juniper bootcamp - Juniper is

New courses, new people

the second largest global

There have been a wide range of

networking company. The event

new awards validated during 2015-

has been a huge success and

16, including MSc Big Data Analysis/

Staffordshire University. Financial Statements and Governors’ Report 2015/16

FINANCIAL STATEMENTS AND GOVERNORS’ REPORT 2015/16

HEALTH SCIENCES The Faculty of Health Sciences operates

FC following a highly impressive

and staff to undertake research of

through three schools of teaching and

scholarship.

operational significance.

Course developments

four centres of research. Each school has strong links with

Staff have been working hard with local

Centres of Excellence in Healthcare Education

employers and is gaining a reputation

NHS Trusts to develop new Higher

We have developed two ground-

across the region for the delivery

Apprenticeships in acute care, mental

breaking Centres of Excellence

of high quality, employer-focused

health nursing, and perioperative

in Healthcare Education – one in

education and research. As well as

care. These new apprenticeships

Stafford and one in Shrewsbury. They

existing businesses, we are regularly

provide Trusts with a hugely important

focus on our provision in nursing,

approached by new organisations

boost to their workforce and provide

midwifery, operating department

who are excited by our flexible and

employment for those in the region.

practice and paramedics. With over £5 million investment, these Centres

accommodating approach to education

will completely transform the learning

and skills development.

Highly satisfied students

Scale and scope of research

opportunities for our students in order

We currently operate through four

to prepare them for life as excellent

Many of our courses scored extremely

research centres, namely:

healthcare professionals of the future.

well in the overall satisfaction category

•

Centre for Sport Health

in the 2015 National Student Survey

and Exercise

(NSS).

•

Research Centre for Health and

Connecting with our communities

Social Care Research

Throughout the year, we have led and

•

BSc Psychology and Child

•

Centre for Psychological Research

hosted conferences, worked with local

Development – 100%

•

Centre for Health

communities and engaged in teaching,

•

Dip HE Operating Department

and Development.

research and enterprise with partners

Practice – 100%

•

BSc Midwifery Practice – 100%

Our research centres currently operate

•

BSc Sports Therapy – 100%

within the Research Excellence

•

hosting a very well received event

across the globe. A few examples are:

Framework 2014 (REF) and have a real

for the United Kingdom Association

League tables

impact on society by helping to prevent

of Forensic Nurses (UKAFN)

There are a number of good news

disease and increase wellness within the

•

training Social Work, Midwifery and

stories in the Guardian University Guide

population.

Nursing students on

2017 subject league tables for Health

inter-professional approaches

Sciences subjects. All sport, social work,

Our REF result confirmed that 64%

to safeguarding

psychology and nursing subjects are in

of research submitted in Sport,

•

hosting 60 Chinese football

the top 50.

Leisure and Tourism - and 80% of the

coaches in partnership with Stoke

impact - was rated as world-leading

City Football Club

We have developed and embedded our

or internationally excellent. For our

•

a highly successful “Weird and

use of technology supported learning

submission in Psychology, Psychiatry

Wonderful Psychology” event.

to enhance students’ experiences

and Neuroscience, the work received

•

holding a range of inter-

– making teaching more inclusive,

36% and impact 100%.

professional events for paramedics

and nurses, and the Midwifery

Income generation

Annual Debate

In 2015/16 we secured bids for research

•

writing blogs for the Guardian’s

We have many examples of students

projects worth over £1 million, including

social care network on the

excelling, including Joe Dixon, a

a successful research bid of £400,000

importance for professionals to

Sport Psychology PhD student at

from the Police Knowledge Fund. A

understand changes to welfare law.

Staffordshire, who has been appointed

joint collaboration with Keele University,

as Club Psychologist for Stoke City

the project will enable Police Officers

interactive and exciting.

Student success stories

staffs.ac.uk

SPORT AT STAFFORDSHIRE UNIVERSITY Sport and exercise are incredibly

£3.75 million from Stoke-on-Trent City

of Sport and Active Lifestyles, Jonathan

powerful tools. Whether you are one

Council and Sport England has ensured

Pace. This will allow for greater support

of hundreds participating in the Sport

a two-year legacy programme up until

and coordination with our University

England funded Active Universities

2018.

sport teams and joined-up working

Programme or one of the 14 students

with the academic sport and exercise

supported on our Team Staffs Elite

The ECoS status is about celebrating,

team. All of which will result in a better

Scholarship Programme, sport changes

organising and promoting a diverse

student experience, greater placement

our students’ lives. Over the last year

range of sports-related activities

and employability opportunities, and

it has been particularly pleasing to

across the City to encourage increased

hopefully better performances from

see the doubling of membership of

participation. The University has been a

competitive University teams in the

the Stanley Matthews Sports Centre

key member and one of many partners

British Universities and Colleges Sports

to approximately 1,000 following

of the Local Organising Committee,

league (BUCS).

our investment of £1.25 million. This

crafting a range of activities. One of the

work was carried out with the support

key outputs from the ECoS is that it has

of Matrix Fitness Ltd, a strategic

built and developed partnerships that

partner of the University which is the

will have further benefits. For instance,

fastest growing manufacturer of gym

links with Stoke City FC community

equipment in the world and based in

have been stronger and resulted in a

Stoke-on-Trent. This refurbishment

successful £360,000 British Council bid

has been important not just because

to educate and host 60 football coaches

it demonstrates a good targeting and

from China for three months. Although

return on investment. We know from

55 universities bid for projects, we were

academic studies that people who play

one of only three universities in the UK

sport do better academically, deal with

to be awarded this prestigious bid. This

stressful and anxious situations better

work has in turn resulted in further links

(such as exams and job interviews) and

with China and our male and female

have improved social capital, which is

rugby teams have been invited to play

key to improving their employability.

at the Rugby Sevens friendship games

So our focus on sport is key in terms of

in Beijing this summer.

our students’ attainment, lifestyles and long-term goals.

This year we have had some notable successes, including Team Staffs Elite

It is pleasing to see that the

Scholar, Kate Holt, winning a bronze

improvement in sport facilities and

medal in the National Cross Country

participation is also mirrored by an

Championships, however we would

increasingly strong academic sports

like to improve on these. As we

and exercise subject area. Overall

prepare for the new academic year the

satisfaction was 91% in the National

University Sports Management Board,

Student Survey, with two of our awards

working with the Student’s Union,

scoring the maximum 100% satisfaction,

has decided to change the structure

and the continued production of high

of sport provision at the University.

quality research outputs. It therefore

Previously, sport teams under the

seems apt that this year, Stoke-on-Trent

Team Staffs banner were coordinated

was designated as the European City

by the Students’ Union, while facilities

of Sport (ECoS). This is a year-long

were operated separately. From next

celebration of sport and physical activity

academic year 2016/17, Team Staffs

in the City and funding of over

and facilities will both be led by Head

Staffordshire University. Financial Statements and Governors’ Report 2015/16

FINANCIAL STATEMENTS AND GOVERNORSâ&#x20AC;&#x2122; REPORT 2015/16

staffs.ac.uk 27

STUDENT EXPERIENCE There’s little doubt that the physical

for both students and visitors – such as

“With the new facilities in place, I

transformation which has taken place

the creation of new information points

firmly believe that we are ready to take

across our Stoke-on-Trent campus has

in the Cadman and Brindley buildings –

on some of the best universities in

made Staffordshire University a much

were simple, straightforward and have

Britain! Right now, there’s a particularly

more dynamic and inspiring place to

delivered immediate benefits.

good feeling across the Stoke-on-Trent

study.

campus. It’s a campus to be proud Other initiatives, such as electronic

of – one that offers a perfect mix of

Before committing some £40 million to

attendance monitoring (to help us more

vocational and academic opportunities,

create a fantastic City campus in time

readily identify issues with students and

a top-rate student experience and

for September 2016, we had already

courses), the delivery of personalised

outstanding support.

gone some way to setting the standard

timetables, additional study skills

in 21st Century teaching. Just take the

support and a new student portal, are

“At the Students’ Union everyone is

opening of our £30 million Science

now in place and will start to show their

doing their bit to enhance the student

Centre in 2012 for example. We have

worth over the coming year.

experience. There are more clubs,

also invested £6 million in our Centres

societies and social groups than ever

for Healthcare Excellence at Stafford

Our encouraging results in the 2016

before. We’re listening to students,

and Shrewsbury.

National Student Survey, where our

providing all kinds of support,

learning resources and facilities

highlighting issues that are brought to

The brilliant new facilities and exciting

achieved 88% satisfaction, 2% higher

us – and using our influence to make

new learning, teaching and social

than the sector average, clearly indicate

Staffordshire University even better.

spaces which are now to be found

that we are heading in the right

The University is a gem in the Midlands

across Stoke-on-Trent campus, only

direction.

and we are helping to make it shine!”

commitment to providing the very best

In association with our Students’ Union,

Darren Clarke,

student experience. Behind the scenes

we are committed to setting the bar for

Vice-President, Students’ Union

we are working incredibly hard to

student experience.

go part-way in demonstrating our

ensure that every student gets the very most from their time with us.

A few ways in which the Students’ Union has helped improve the student

To help us meet our goals, we have

experience:

created Student and Academic Services

•

Ask for Help – a campaign to

(SaAS) – a new team tasked with

boost student attainment through

ensuring we deliver a seamless, high

better access to support

quality experience for every student

•

Be Safe Week – a programme

who studies with us.

to ensure all students stay safe,

which received an award from the

SaAS is responsible for almost every

Suzy Lamplugh Trust

aspect of the student journey, from

•

High Five – a referendum

enrolment, admission and Welcome

empowering students to vote on

Week, to support with student finance,

what the Union should prioritise

the creation of personalised timetables

over the coming year

and even graduation. SaAS also

•

Funfair and Chill – a programme

oversees other important services

to help students manage their

including disability support, nursery

mental health during exams

provision, counselling and wellbeing.

•

Improved coaching for sports

teams, and reduced membership

fees for club and society members.

Many of the improvements we’ve made to enhance the on campus experience 28

Staffordshire University. Financial Statements and Governors’ Report 2015/16

FINANCIAL STATEMENTS AND GOVERNORSâ&#x20AC;&#x2122; REPORT 2015/16

staffs.ac.uk 29

RESEARCH AND ENTERPRISE Staffordshire University researchers

and learning spaces, equipped

•

leading on the archaeological dig

are making a real impact in our city

with state-of-the-art technologies,

of Shakespeare’s last house

and region, across the UK and around

enabling us to build on our leading

•

a smart cities partnership with the

the globe. They are tackling some

edge in Computing Higher Education,

University of Alabama at

of society’s greatest challenges,

particularly Cloud Computing, Cyber-

Birmingham (UAB) including

supporting businesses to grow and

Security, Networking, Games Design,

the development of an innovative

transforming the lives of individuals.

Big Data and Internet-of-Things. At

international online Dual Masters

the heart of our Digital Kiln is a new

programme

The latest assessment of the research

‘collision’ space where we can work with

•

working for the Welsh Government

quality of UK universities, the Research

businesses and local communities to

to assess the ‘value’ of natural

Assessment Framework (REF) 2014 rated

develop digital skills and capabilities,

landscapes

78% of our research at international

use new digital technologies to tackle

•

partner in the EU-funded

standard or above. During the period

big societal and local community

Sustainable Manager in Tourism

of this REF exercise, the University has

challenges and grow new digital

Sector (SMARTOUR) project with

demonstrated an improvement in terms

businesses. The overall vision for the

partners from Greece, Italy

of the overall quality of its research and

Digital Kiln is to create a leading-class

and Finland to develop tourism

the volume of research undertaken,

digital hub based at Staffordshire

management skills

growing our international rated research

University that will act as a catalyst and a

•

working with partners in Italy,

by over one third.

digital accelerator for the growth of the

Portugal and Spain on a three-year

digital economy in Stoke-on-Trent and

EU-funded project to equip older

Staffordshire.

workers who have suddenly found

We are improving the competitiveness of business and the efficiency and

themselves out of work, with the

effectiveness of public and voluntary

This year we delivered over 200 research

skills and knowledge to start their

organisations through collaborative

and enterprise projects, which have

own businesses

and contract research, consultancy,

included:

•

The Centre of Archaeology and

our corporate training and Continuing

•

testing smart cars for BMW

Forensic and Crime Science

Professional Development (CPD)

•

working with Amey PLC and

Department was awarded a

programmes. We provide business

Staffordshire County Council on an

prestigious research grant to

start-up support to students, graduates

Innovate UK funded project to build

develop new ways to record and

and local entrepreneurs through our

a smart cities platform for

present crimes scenes via

Be Inspired (formerly SPEED Plus)

coordinating utilities infrastructure

virtual reality.

programme which is funded through

works

our Higher Education Innovation Fund

•

the creation of a new Centre for

Looking ahead, we are currently in the

(HEIF) and the European Regional

Health and Development in

process of reviewing and renewing

Development Fund (ERDF). We also

partnership with Stoke-on-Trent

our research infrastructure and we

offer affordable commercial business

City Council and Staffordshire

will be investing over £6 million over

incubation and office space through

County Council to improve public

the next three years to create three

our Business Villages in Stafford and

health in the region

new world-class research institutes.

Lichfield.

•

a ground-breaking forensics

These new research institutes will

partnership with Staffordshire

build on our areas of existing research

This year we secured £5 million from

Police

excellence and focus on creating

HEFCE towards the development

•

three PhD researchers embedded

critical mass in our research community,

of our new £12 million Digital Kiln at

with Stoke City FC and the

including investment in postgraduate

our Stoke-on-Trent campus, which

development of a coaching

research degrees (MPhil and PhD

opened in September 2016. The

programme for Chinese football

programmes), and early career and

Digital Kiln brings our Computing and

coaches

Games Design resources together into innovative, flexible, teaching 30

Staffordshire University. Financial Statements and Governors’ Report 2015/16

developing researchers as well as new professorships.

FINANCIAL STATEMENTS AND GOVERNORSâ&#x20AC;&#x2122; REPORT 2015/16

staffs.ac.uk 31

EMPLOYABILITY At Staffordshire University we make it

five years after graduation. During this

our mission to prepare our students for

time, the Careers Network will provide

the world, and the world of work. The

face-to-face advice, complemented

Quite simply, any student that wants it,

skills graduates need for a successful

by 24/7 online support, including an

can get real work experience while they

career are not left to chance, they are

eCoach digital platform that offers a

are here. Work experience might be

carefully built in to all our courses. So

wide range of development and careers

part of their course, obtained through

by the time they graduate they have a

help.

their Faculty, sourced via the Careers

specific set of work ready attributes. We

Network, or something they organise

call them the Staffordshire Graduate

Many of our graduates don’t go directly

Attributes which all our undergraduate

into employment, and The Careers

courses are checked against:

Network is on-hand to support them

•

into freelance work, entrepreneurship

discipline expertise

our undergraduate students.

themselves. Types of Work Experience:

• professionalism

and postgraduate study as well as

Sandwich placement:

•

global citizenship

finding a graduate level job and

A full year out in a workplace, or even

•

communication and teamwork

preparing for work if that’s what they

abroad, as a designated part of your

•

reflective and critical learner

choose.

course.

•

problem solver and creator of

opportunities

One of the ways the team will help

•

students develop their network is

lifelong learning.

by helping them build a successful

Work-based placement A specific, sometimes project-based role.

Together with our study programmes,

LinkedIn profile. Crucially, The Careers

Short placement

they provide the basis for the

Network links our students to employers

A useful few week’s insight and hands-

competences or skills employers are

both for part-time work while they are

on experience.

looking for, such as:

here, and for careers once they leave.

• teamworking

It also connects students to previous

Paid internship Experience

•

presentation skills

Staffordshire graduates, many of whom

•

data handling and statistical

are well-established in exciting careers

Initiated by an employer, usually though their HR department. Serial placement

analysis

and are happy to share experiences and

•

problem solving

advice.

A planned series of short periods in the

•

critical thinking

•

report writing.

CareersFest 2015

Voluntary work

In October 2015 the University hosted

Not just a careers service a Careers Network

This is valued by employers, as

its first CareersFest, a week-long event

it demonstrates teamwork and

which brought together a diverse set of

commitment.

Networking is the secret to career

employability activities across 40

success. That’s why this year we re-

sessions. These included external

launched our careers service as The

speakers, skills sessions, a job

Careers Network. In making the change

hackathon and Careers Expo featuring a

we’ve sought to create a service

range of graduate employers.

students engage with throughout their end of their studies. The new offices

Guaranteed Work Experience

in Stoke-on-Trent have been designed

Today’s employers are not just looking

to deliver increased and more flexible

for qualifications. They want people

input from the careers team.

who can demonstrate a range of skills,

time with us, rather than just at the

many of which can only be gained All our students have free access to the

through working. That’s why we now

Careers Network from day one, and for

offer Guaranteed Work Experience to

Staffordshire University. Financial Statements and Governors’ Report 2015/16

workplace.

Work shadowing Where only a qualified practitioner is allowed to do the job, work shadowing gives a valuable insight into the working world.

FINANCIAL STATEMENTS AND GOVERNORS’ REPORT 2015/16

SUSTAINABILITY This year Estates and Commercial Services colleagues have continued to work

Student Switch Off

on sustainability initiatives such as upgrades, waste recycling, living green wall

Student Switch Off (SSO) is a fun and

infrastructures and student engagement (including Student Switch Off). These have

engaging social media campaign

helped ensure legal compliance as well as working towards long-term goals such as

that encourages students to switch

our Carbon Management Plan.

off and save energy through simple measures, such as putting lids on

Our Carbon Management Plan

pans and turning off lights when not

The Carbon Management Plan was created in 2010. In it, the University made a clear

needed. These actions contribute to a

commitment to reduce emissions by 26% by the end of 2014, and by 43% by the

Halls leaderboard with the winning Hall

end of 2019. The results of our efforts and our projected emissions can be seen in

receiving an end of term celebration

the graph below:

event. In 2015-16, this behaviour-change work, led to a 2% reduction in electricity

Staffordshire University - Cumulative Emissions (to 2019) 16,000

of CO2.

Tonnes CO2

14,000

Preceding Twelve Months Emissions

12,000 10,000

2014 Target Emissions

8,000 6,000

2019 Target Emissions

Closure of Beaconside

2008 Emissions

Projected Emissions

2,000

Waste performance In 2015 we appointed a new waste contractor, Veolia Environmental

District Heat Network

4,000 0 Feb-08

consumed, saving £2,000 and 10 tonnes

Services Ltd to operate a zero waste to landfill policy for all the University’s residual waste. This is done through

Jul-09 Nov-10 Apr-12 Aug-13 Dec-14 May-16 Sep-17 Feb-19 Jun-20

an Energy Recovery Facility, along with recyclables such as plastics, paper,

While we missed our end of 2014 target by around 4% during the financial year

cardboard and metals segregated at

2015/16 we reached the target and with the significant emissions reductions likely to

source. University black bag waste

follow the closure of Beaconside, we could reach our 2019 target as early as 2017.

now contributes to 300,000 tonnes of

Geothermal heating

non-recyclable waste that is incinerated, generating 23MW of energy for the

Another aspect of our sustainability strategy has been the introduction of a new

National Grid - the equivalent of

method of heating the campus at Stoke-on-Trent. Our new District Heat Network

powering 32,000 local homes.

will utilise deep geothermal energy brought up through bore holes created at the site of the former Shelton steelworks. Running several hundred metres deep, they

Living walls

will deliver 90°C water straight into our existing radiator systems. This alone will

One of our most innovative

provide a 75% reduction in CO2 emissions and should see us become one of the

changes has been the living wall

most carbon efficient organisations in our sector.

installed on Leek Road, adjacent

Little upgrades that make a big difference

to our £30 million Science building. Associated with PhD research, the wall

The University is committed to making reductions in energy use wherever possible,

demonstrates the potential for plant

and smaller-scale upgrades have been occurring regularly as part of our strategy.

matter to absorb harmful particulates from traffic pollution.

These generally focus on replacing existing fluorescent lights with LED bulbs that require significantly less energy and offer an increased life span. All out-of-date storage heaters have also been upgraded to a newer type of electric heating. Whilst electric heating is more carbon intensive than gas-fired central heating, the cost of such an upgrade is very high, compared to upgrading electric heating technology. So far, we have seen about a 20% reduction in energy consumption using the newer type of units.

staffs.ac.uk

FUTURE RISKS AND UNCERTAINTIES Student Recruitment

the University changes to respond to

Cloud, reorganising its Digital Team

Student recruitment is a key risk.

the changing needs of students, that

to ensure that it has the right skills and

Staffordshire University continues to

the skills that its people are required

can work closely with the University,

re-shape and adapt to a challenging

to have also change. In response to

and implementing an exciting digital

operating environment, and to exploit

this, Staffordshire University invests

strategy that puts the students at

new opportunities such as Higher

in leadership development and has a

the heart, ensuring that Staffordshire

and Degree Apprenticeships. We are

performance management system that

University uses technology to give the

also responding to this risk by raising

supports people to develop. In 2016/17

very best student experience.

awareness of the University through

a new people strategy will be launched

an intensive marketing campaign,

that will strengthen what is already in

Quality

building stronger links with local schools

place.

There are strict requirements for

and colleges, investing in its campus,

universities to deliver a quality

developing a digital agenda and

Product Portfolio

education to their students. These

consolidating its portfolio ensuring that

The different career paths that

requirements are likely to change

it delivers what its students want.

graduates choose is changing rapidly

and become more rigorous with the

and as a result, the subjects they want

introduction of the new Teaching

International Recruitment

to study at university are also changing

Excellence Framework. If a university

The changes to tighter immigration

and will continue to change. The risk

does not deliver the required quality

rules and the decline in international

is that universities do not respond to

and breaches regulation it could have

recruitment also poses a risk. This is

these changes and as a result do not

a serious impact on its reputation.

being mitigated by working towards

offer the awards that students require.

Staffordshire University has a tight

improved internationalisation,

Staffordshire University is responding

governance framework in place

ensuring we adhere to the immigration

to this risk by opening new awards

which, together with an academic

regulations and an international policy.

when it identifies an opportunity in the

development unit, ensures that it

market, and closing awards that are

complies with quality legislation and

Internal Change

no longer recruiting. In 2016/17 the

delivers the very best education to its

As Staffordshire University responds

Faculties are being reorganised into

students.

to an increasingly demanding market,

more streamlined, adaptable functions

it has been making structural, process

enabling better cross-working and an

Student Experience

and system changes. These changes

increased student focus. As part of

In the competitive market that

enable the University to become more

this restructure the portfolio is being

universities are in, the student

student-focused and efficient. The

reviewed enabling a consolidation of

experience is very important. A poor

level of internal change brings with it a

what the University delivers and an

student experience results in poor

risk of disruption to business as usual.

increased focus on the areas that are

student survey results and league table

Staffordshire University is managing this

most important to students.

position and then reduced student

risk through good quality programme

recruitment. Staffordshire University

governance, ensuring that service

Digital

puts its students at the heart of what it

delivery is protected as the change is

Today’s students are digitally savvy and

does. Many of Staffordshire University’s

delivered, regular communication to

universities have to respond to this to

awards achieve high student survey

staff and students and close working

ensure that they teach students in a

results, but awards with poor student

with the Students’ Union, to ensure that

way that students best respond and

survey results are followed up and

students are engaged in the changes

learn. This means that universities must

supported to improve. The campus is

and in some cases shaping them.

have the right infrastructure in place,

being invested in, a sports strategy has

on which it can build its digital offer

been implemented that encourages

Talent Management

to students. Staffordshire University is

participation as well as supporting the

Staffordshire University’s people are its

responding to this risk by migrating

elite, administration services have been

greatest asset. There is a risk that as

all of its data centre capacity to the

consolidated and streamlined providing

Staffordshire University. Financial Statements and Governors’ Report 2015/16

FINANCIAL STATEMENTS AND GOVERNORS’ REPORT 2015/16

FUTURE RISKS AND UNCERTAINTIES a better student service, the front line is being protected to ensure that student to staff ratios are kept at average or above and the Students’ Union encourages engagement in clubs and social activities.

staffs.ac.uk

CORPORATE GOVERNANCE Staffordshire University is committed to

d) The appointment, grading,

– the Vice-Chancellor. All matters

best practice in all aspects of corporate

assignment, appraisal, suspension,

specially reserved for the Board of

governance. This summary outlines how

dismissal and determination of the

Governors to make decisions on are

we have applied the principles set out

pay and conditions of service of

set out in the Articles of Government.

in the UK Corporate Governance Code

holders of senior posts

Under the Memorandum of Assurance

(September 2014). If you’re reading our

e) Setting a framework for the pay

and Accountability with the Higher

Financial Statements, this overview will

and conditions of service of all

Education Funding Council for England,

help you to understand exactly what we

other staff

the Board of Governors is responsible

have done.

for the ongoing strategic direction of

In particular, the Board will:

the University, the approval of major

Throughout the year ended 31 July

f) Approve the mission and strategic

developments and the receipt of regular

2016, the University has been in

vision of the institution, long

reports from Executive Officers on the

compliance with all the Code provisions

term business plans, KPIs and

day-to-day operations of its business

that relate to universities set out

annual budgets, and ensure that

and its subsidiary companies. The Board

in Section 1 of the UK Corporate

these meet the interests of

of Governors meets four times a year

Governance Code. The University also

stakeholders

and has six committees; an Employment

supports, and is guided by, the Guide

g) Appoint the head of the institution

and Finance Committee, a Nominations

for Members of Governing Bodies of

as Chief Executive and put in place

and Governance Committee, an Audit

Universities and Colleges in England

suitable arrangements for

and Risk Committee, a Remuneration

and Wales and Northern Ireland that

monitoring his/her performance

Committee, an Education Committee

was reissued by the Committee of

h) Ensure the establishment and

and an Estates and Infrastructure

University Chairmen (CUC) in 2014.

monitoring systems of control

Committee. All of these committees

and accountability, including

are formally constituted with terms

In addition, the Board of Governors

financial and operational controls

of reference and comprise mainly of

has also formally accepted the CUC’s

and risk assessment, clear

members of the Board of Governors.

Governance Code of Practice and

procedures for handling internal

The Board of Governors also undertakes

General Principles issued in 2014. In this

grievances and for managing

a regular review of its own effectiveness,

connection, the Board of Governors has

conflicts of interest

with the latest Effectiveness Review due

also agreed the following:

i) Monitor institutional performance

Statement of Primary Responsibilities of the Board of Governors

to be undertaken.

against plans and approved KPIs,

which, where possible and

appropriate, will be benchmarked

The Employment and Finance Committee

against other institutions.

The Employment and Finance

Section 3(i) of the University’s Instrument

Committee recommends the

of Government states that the Board of

This statement is also available on the

University’s annual revenue and capital

Governors shall be responsible for:

University’s website.

budgets to the Board of Governors and

a) The determination of the

monitors performance in relation to

educational character and mission of the University and for oversight

Summary of the Corporate Governance Structure

those budgets once they are approved.

of its activities

It also reviews the University’s annual

The University’s Board of Governors is

financial statements together with the

b) The effective and efficient use

made up of independent, co-opted,

accounting policies.

of resources, the solvency of the

staff and student members, appointed

institution and the Corporation and

under the University’s Instrument of

for safeguarding their assets

Government. The roles of the Chair

c) Approving annual estimates of

and the Deputy Chair of the Board

of Governors are separated from the

income and expenditure

role of the University’s Chief Executive

Staffordshire University. Financial Statements and Governors’ Report 2015/16

FINANCIAL STATEMENTS AND GOVERNORS’ REPORT 2015/16

The Nominations and Governance Committee

The Education Committee

Higher Education Funding Council for

The Education Committee reviews

England.

The Nominations and Governance

policies and procedures relating to the

Committee considers nominations for

educational character of the University,

The system of internal control is

vacancies in the Board of Governors

reviews the soundness of the University’s

designed to manage, rather than

membership, as well as reappointment

processes relating to academic

eliminate the risk of failure to achieve

of members under the Instrument of

standards and quality, and monitors

policies, aims and objectives. Its

Government. It also advises the Board

progress against relevant KPIs on behalf

effectiveness can therefore only be

of Governors on general governance

of the Board.

reasonably - not absolutely - assured.

The Estates and Infrastructure Committee

Our system is based on an ongoing

The Estates and Infrastructure

evaluate the nature and extent of those

Committee has responsibility for

risks, and to manage them efficiently,

The Audit and Risk Committee

advising the Board of Governors on its

effectively and economically.

meets with the external auditors and

Estates Strategy and the monitoring

internal auditors of the University to

of estates and infrastructure related

This process has been in place for the

review their work. The Committee

projects.

year ended 31 July 2016 and up to

and will consider the findings of the Effectiveness Review.

The Audit and Risk Committee

process designed to identify risks, to

the date of approval of the Financial

approves the Annual Internal Audit

Statements.

Plan and considers detailed reports,

The University maintains a Register of

along with recommendations for

Interests of members of the Board of

how improvements could be made

Governors and of senior managers of

As the Board of Governors, it is our

to systems of internal control

the University. This may be consulted by

responsibility to review just how

and management’s response and

arrangement with the Executive Director

effective the system of internal control

implementation plans. It also considers

of Corporate Services and the Clerk to

is. As part of this, the following

reports from the Higher Education

the Board of Governors.

processes have been established: •

We meet four times a year to

In accordance with the Instrument and

consider the plans and strategic

monitor adherence with the regulatory

Articles of Government of the University,

direction of the University.

requirements. Whilst executive

the Clerk has been designated Secretary

•

We receive periodic reports from

members attend meetings of the Audit

to the Board and in that capacity

the Audit and Risk Committee

and Risk Committee as necessary, they

provides independent advice on matters

concerning internal control,

of governance to all Board members.

and we require regular reports

from managers on the steps they are

Statement of Internal Control

taking to manage risks in their

areas of responsibility, including

As the Board of Governors of

progress reports on key projects.

The Remuneration Committee

Staffordshire University, we have

Risk management is a regular item

responsibility for maintaining a sound

on the agendas of both the

The Remuneration Committee

system of internal control that supports

full Board and the Audit and Risk

is responsible for determining

the achievement of our policies, aims

Committee.

all employment, contractual and

and objectives. At the same time, that

•

We have requested the Audit and

remuneration arrangements for senior

system needs to safeguard the public

Risk Committee to provide oversight

postholders, as determined by the

and other funds and assets for which

of the risk management process.

Instrument and Articles of Governance.

it is responsible, in accordance with

It normally reviews the salary levels of

the responsibilities assigned in the

senior post-holders on an annual basis

University’s Instrument and Articles of

and met twice during the financial year

Government and the Memorandum of

ended 31 July 2016.

Assurance and Accountability with the

Funding Council for England (HEFCE) as they affect the University’s business and

are not members. The Committee also meets with the external and internal auditors on their own for independent discussions.

staffs.ac.uk

CORPORATE GOVERNANCE (continued) •

The Audit and Risk Committee

The Board of Governors’ review of

receives regular reports from the

its effectiveness, is subsequently

firm of accountants contracted to

informed by these insights from the

provide an internal audit service.

internal auditors and the Executive

This includes their independent

Managers within the University who

opinion on the adequacy and

are responsible for developing and

effectiveness of the University’s

maintaining the internal control

system of internal control,

framework. It also takes into account

together with recommendations

comments made by the external

for improvement.

auditors in their Management Letter

•

A programme of facilitated

and other reports.

workshops is being organised to

identify and keep up-to-date, the

record of risks facing the

Chair of the Board of Governors

organisation. •

A system of key performance and

risk indicators has been developed.

•

We’ve established a robust risk

prioritisation methodology based

on risk ranking.

•

An organisation-wide risk register is

maintained and regularly updated.

•

Reports are received from budget

holders and project managers on

internal control activities.

•

Other sub-committees of the Board

- notably the Employment and

Finance Committee and Estates

and Infrastructure Committee

- consider financial, employment

and estates issues. These sub-

committees review how effectively

the consequences of these issues

are being monitored and

controlled. The University has an internal audit service which operates to standards defined in the HEFCE Memorandum of Assurance and Accountability. The internal auditors submit regular reports which include their independent assessment on the adequacy and effectiveness of our system of internal control, together with any recommendations they have for improvement.

Staffordshire University. Financial Statements and Governors’ Report 2015/16

FINANCIAL STATEMENTS AND GOVERNORS’ REPORT 2015/16

RESPONSIBILITY OF THE BOARD OF GOVERNORS In accordance with the Education

The Board of Governors takes its

•

Clearly defined and formalised

Reform Act 1988, the Board of

responsibility for the University’s

requirements for approval and

Governors of Staffordshire University

financial affairs very seriously, and so has

control of expenditure. Investment

is responsible for the administration

taken all reasonable steps to:

decisions involving capital and

and management of University affairs,

•

Ensure that funds from the Higher

revenue expenditure are subject

and a key part of this duty is presenting

Education Funding Council for

to formal detailed appraisal and

audited financial statements for each

England are used only for

review, according to approval levels

financial year.

the purposes for which they have

set by the Board.

been given. All funds will be

•

Comprehensive financial

The Board of Governors is required to

used in accordance with the

regulations, detailing financial

keep proper accounting records which

Financial Memorandum and any

controls and procedures. These

disclose with reasonable accuracy

other conditions which the Funding

are approved by the Employment

at any time, the financial position

Council might prescribe.

and Finance Committee and the

of the University. These statements

•

Ensure that there are appropriate

Board of Governors.

are all prepared in accordance with

financial and managerial controls

•

Clear definitions of the

the Education Reform Act 1988, the

in place to safeguard public and

responsibilities and authority of

Statement of Recommended Practice

other funds.

the Executive, Deans of Faculties

(SORP), Accounting for Further and

•

Safeguard the assets of the

and Directors of Services.

Higher Education Institutions and

University, and to prevent and

•

A professional internal audit team

other relevant accounting standards.

detect fraud.

whose annual programme

A Financial Memorandum agreed with

•

Secure the economical, efficient

is approved by the Audit and Risk

the Higher Education Funding Council

and effective management of

Committee.

for England, the Board of Governors

resources and expenditure.

obliges us to make sure these

Any system of internal financial control can only provide reasonable, but not

the state of affairs of the University and

How we maintain internal financial control

of the surplus or deficit and cash flows

There are several key elements to the

misstatement or loss. That’s why

for that year.

University’s system of internal financial

throughout the year, the Audit and

control. Each one is designed to

Risk Committee has reviewed the

In preparing the statements, we have to

discharge the steps and responsibilities

effectiveness of the University’s system

ensure that:

outlined above. These include:

of internal financial control to make sure

•

suitable accounting policies are

•

A comprehensive medium and

all risk is at an absolute minimum.

selected and applied consistently

short-term planning process,

•

any judgements and estimates are

supplemented by detailed annual

reasonable and prudent

income, expenditure, capital and

•

applicable accounting standards

cash flow budgets.

are followed, with any material

•

Regular reviews of academic

departures disclosed and explained.

performance and monthly reviews

of financial results, with variance

All our financial statements are

reporting and updates of forecast

prepared on a ‘going concern

outturns.

statements give a true and fair view of

absolute, assurance against material

Chair of the Board of Governors

basis’. This means that they always assume we know there are adequate resources to keep operating for the foreseeable future. This will always be the case, unless there is a valid reason to think otherwise.

staffs.ac.uk

GOVERNORS, EXECUTIVES AND ADVISORS Board of Governors

David Gage (Chair) MBE Professor Liz Barnes (from 01.04.16) Cordella Bart-Stewart Darren Clarke (from 01.07.16) Richard Cotterell Ken Crossland (to 31.08.15) Gary Crowe (from 01.07.16) Jaime-Lee Cunningham (from 01.07.16) Bal Deol (to 30.06.16) Rebecca Dobbs (to 31.03.16) Glenn Earlam Professor Michael Gunn (to 31.03.16) Martin Fiddler Mike Herbert John Henderson CB (from 18.09.15) Richard Hey (from 01.04.16) Dr Cathryn Hickey (from 01.07.16) Tom Hope (to 30.06.16) John van de Laarschot (to 30.11.15) Barry Machin David Sidaway (from 01.04.16) Elaine Simpson Dr Greg Taylor (to 31.10.15) Dr Ruth Thompson Deceased 10.07.16 Sarah Tudor Jonathan Vardon (from 01.05.16) Sara Williams

Chancellor The Lord Stafford

Executive Team

Professor Liz Barnes Professor Michael Gunn Professor Allan Howells Rosy Crehan Margaret Monckton Ian Blachford

Professional Advisors Auditors Bank Solicitors

Vice-Chancellor (from 01.04.16) Vice-Chancellor (to 31.03.16) Deputy Vice-Chancellor (Research, Enterprise & External) Deputy Vice-Chancellor (Academic) Director of Finance and Infrastructure and Deputy Chief Executive Director of Corporate Services and Clerk to the Board of Governors

KPMG LLP, One Snowhill, Snowhill Queensway, Birmingham B4 6GH Lloyds Bank Plc, 5 Market Square, Stafford ST16 2JL Shakespeare Martineau, No 1 Colmore Square, Birmingham B4 6AA

Staffordshire University. Financial Statements and Governorsâ&#x20AC;&#x2122; Report 2015/16

FINANCIAL STATEMENTS AND GOVERNORS’ REPORT 2015/16

AUDITOR’S REPORT AND OPINION INDEPENDENT AUDITOR’S REPORT TO THE BOARD OF GOVENORS OF STAFFORDSHIRE UNIVERSITY

We have audited the financial statements of Staffordshire University for the year ended 31 July 2016 set out on pages 42 to 70. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland. This report is made solely to the Board of Governors, in accordance with Section 124B of the Education Reform Act 1988. Our audit work has been undertaken so that we might state to the Board of Governors those matters we are required to state to it in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Board of Governors for our audit work, for this report, or for the opinions we have formed.

Respective responsibilities of the Board of Governors and auditor

As explained more fully in the statement of Responsibility of the Board of Governors set out on page 39 the Board of Governors is responsible for the preparation of financial statements which give a true and fair view. Our responsibility is to audit, and express an opinion, on the financial statements in accordance with applicable law and International Standards on Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices Board’s Ethical Standards for Auditors.

Scope of the audit of the financial statements

material misstatement, whether caused by fraud or error. This includes an assessment of: whether the accounting policies are appropriate to the Group’s and University’s circumstances and have been consistently applied and adequately disclosed; the reasonableness of significant accounting estimates made by the Board of Governors; and the overall presentation of the financial statements. In addition, we read all the financial and non-financial information in the Governors’ Report to identify material inconsistencies with the audited financial statements and to identify any information that is apparently materially incorrect based on, or materially inconsistent with, the knowledge acquired by us in the course of performing the audit. If we become aware of any apparent material misstatements or inconsistencies we consider the implications for our report.

Opinion on financial statements In our opinion the financial statements: •

give a true and fair view of the state of the Group’s and the University’s affairs as at 31 July 2016, of the Group’s and University’s income and expenditure, gains and losses and changes in reserves and of the Group’s cash flows for the year then ended;

•

have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice and with the 2015 Statement of Recommended Practice – Accounting for Further and Higher Education; and

•

meet the requirements of HEFCE’s Accounts direction to higher education institutions for 2015-16 financial statements.

Opinion on other matters prescribed in the HEFCE Audit Code of Practice (effective 1 August 2014) issued under the Further and Higher Education Act 1992

In our opinion, in all material respects: • funds from whatever source administered by the Group and the University for specific purposes have been properly applied to those purposes and managed in accordance with relevant legislation; • funds provided by HEFCE have been applied in accordance with the Memorandum of Assurance and Accountability and any other terms and conditions attached to them; and •

the corporate governance and internal control requirements of HEFCE’s Accounts direction to higher education institutions for 2015-16 financial statements have been met.

M J Rowley For and on behalf of KPMG LLP, Statutory Auditor Chartered Accountants One Snowhill Snowhill Queensway B4 6GH

An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give reasonable assurance that the financial statements are free from staffs.ac.uk

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME AND EXPENDITURE YEAR ENDED 31 JULY 2016 Year ended 31 July 2016 Income Tuition fees and education contracts Funding body grants Research grants and contracts Other income Investment income Donations and endowments

Year ended 31 July 2015

Notes

Consolidated £’000

University £’000

Consolidated £’000

University £’000

1 2 3 4 5 6

84,946 13,154 1,165 14,171 427 64

84,946 13,154 1,165 18,111 427 64

84,570 17,293 1,266 14,752 453 58

84,570 17,293 1,266 14,470 453 58

113,927

117,867

118,392

118,110

62,394 35,674 9,404 0 4,917

62,055 35,569 9,253 0 4,917

64,928 35,586 9,359 3,008 4,730

64,554 35,710 7,901 3,008 4,730

112,389

111,794

117,611

115,903

1,538

6,073

781

2,207

788

(144)

2,326

6,861

637

2,063

2,326

6,861

637

2,063

(11,237)

(10,672)

(8,911)

(4,376)

(10,035)

(8,609)

0 788 (8,479)

0 788 (3,944)

0 0 (7,418)

0 0 (5,992)

(1,220) (8,911)

(1,220) (4,376)

(2,617) (10,035)

(2,617) (8,609)

Total income Expenditure Staff costs Other operating expenses Depreciation Impairment of Beaconside Interest and other finance costs

7 9 11 8

Total expenditure Surplus before other gains losses and share of operating surplus/deficit of joint ventures and associates. Gain/(loss) on disposal of heritage/fixed assets Surplus before tax Taxation

Surplus for the year Actuarial (loss) in respect of pension schemes Total comprehensive income and expenditure for the year Represented by: Endowment comprehensive income for the year Restricted comprehensive income for the year Unrestricted comprehensive income for the year Revaluation reserve comprehensive income for the year All items of income and expenditure relate to continuing activities.

Staffordshire University. Financial Statements and Governors’ Report 2015/16

FINANCIAL STATEMENTS AND GOVERNORS’ REPORT 2015/16

CONSOLIDATED AND UNIVERSITY STATEMENT OF CHANGES IN RESERVES YEAR ENDED 31 JULY 2016 Consolidated

Balance at 1 August 2014 Surplus/(deficit) from the income and expenditure statement Other comprehensive income Transfers between revaluation and income and expenditure reserve Release of restricted funds spent in year Total comprehensive income for the year Balance at 1 August 2015 Surplus/(deficit) from the income and expenditure statement Other comprehensive income Transfers between revaluation and income and expenditure reserve Release of restricted funds spent in year Total comprehensive income for the year Balance at 31 July 2016 University

Income and expenditure account

Revaluation reserve

Total

Endowment £’000

Restricted £’000

Unrestricted £’000

£’000

3,800

(17,136)

66,716

53,406

0 0

637 (9,554)

0 (1,118)

637 (10,672)

0 0

1,499 0

(1,499) 0

0 0

(7,418)

(2,617)

(10,035)

3,800

(24,554)

64,099

43,371

0 0

788 0

1,538 (11,237)

0 0

2,326 (11,237)

0 0

1,220 0

(1,220) 0

0 0

788

(8,479)

(1,220)

(8,911)

4,588

(33,033)

62,879

34,460

Revaluation reserve

Total

£’000

Income and expenditure account Unrestricted Restricted Endowment £’000 £’000 £’000 26

3,800

(21,450)

66,716

49,092

0 0

2,063 (9,554)

0 (1,118)

2,063 (10,672)

0 0

1,499 0

(1,499) 0

0 0

(5,992)

(2,617)

(8,609)

3,800

(27,422)

64,099

40,483

0 0

788 0

6,073 (11,237)

6,861 (11,237)

0 0

1,220 0

(1,220) 0

0 0

788

(3,944)

(1,220)

(4,376)

4,588

(31,386)

62,879

36,107

staffs.ac.uk

CONSOLIDATED AND UNIVERSITY BALANCE SHEET As at 31 July 2016 Notes

Non-current assets Fixed assets 11 Heritage assets 11/12 Investments 13 Current assets Stock 14 Trade and other receivables due after more than one year 15 Trade and other receivables due within one year 16 Cash and cash equivalents 17 Investments 23 Less: Creditors: amounts falling due within one year 18 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 19 Provisions Pension provisions 27 Other provisions 20 Total net assets Restricted Reserves Income and expenditure reserve endowment reserve 21 Income and expenditure reserve restricted reserve 22 Unrestricted Reserves Income and expenditure reserve unrestricted Revaluation reserve Total Reserves The financial statements were approved by the Board of Governors on 13 December 2016 and were signed on its behalf on that date by: David Gage, Chair of the Board of Governors Professor Liz Barnes, Vice-Chancellor

As at 31 July 2015

Consolidated £’000

University £’000

Consolidated £’000

University £’000

182,263 1,300 74 183,637

182,240 1,300 74 183,614

154,430 3,800 74 158,304

149,330 3,800 74 153,204

131

148

11,428 2,501 42,046 56,035

24,225 2,485 42,051 68,821

9,835 5,840 57,085 73,039

20,733 5,737 57,108 83,857

(37,670)

(48,786)

(27,173)

(35,779)

18,365

20,035

45,866

48,078

202,002

203,649

204,170

201,282

(62,550)

(70,398)

(102,399) (2,593)

(87,450) (2,951)

34,460

36,107

43,371

40,483

4,588

3,800

(33,033)

(31,386)

(24,554)

(27,442)

62,879 34,460

62,879 36,107

64,099 43,371

64,099 40,483

Staffordshire University. Financial Statements and Governors’ Report 2015/16

FINANCIAL STATEMENTS AND GOVERNORS’ REPORT 2015/16

CONSOLIDATED AND UNIVERSITY CASH FLOW YEAR ENDED 31 JULY 2016 Notes Cash flow from operating activities Surplus for the year before transfer from Reserves Adjustment for non-cash items Depreciation Beaconside Impairment Decrease/(increase) in stock Decrease/(increase) in debtors Increase/(decrease) in creditors Increase/(decrease) in pension provision Increase/(decrease) in other provisions Adjustment for investing or financing activities Investment income Interest payable Endowment income Profit on the sale of fixed assets Proceeds from sales of fixed assets Capital grant income Capital grants receipts Net cash inflow from operating activities Cash flows from investing activities Proceeds from sales of fixed assets Proceeds from sales of intangible assets Capital grants receipts Disposal of non-current asset investments Withdrawal of deposits Investment income Payments made to acquire fixed assets Payments made to acquire intangible assets New non-current asset investments New deposits

11 14 16 18/19 7/8 20 5 8

5 11

Cash flows from financing activities Interest paid Interest element of finance lease and service concession payments Endowment cash received New secured loans New unsecured loans Repayments of amounts borrowed Capital element of finance lease and service concession payments (Decrease)/increase in cash and cash equivalents in the year Cash and cash equivalents at beginning of the year Cash and cash equivalents at end of the year

17 17

31 July 2016 £’000

31 July 2015 £’000

2,326

637

9,404 0 131 (1,515) 150 3,455 (358)

9,359 3,008 9 (1,585) (1,240) 3,478 804

(427) 1,759 0 (788) 0 (1,294) 0 12,843

(453) 1,790 0 144 0 (3,160) 0 12,791

3,304 0 3,793 0 0 427 (35,454) 0 0 15,039 (12,891)

1,607 0 2,754 0 (711) 194 (10,130) 0 41 0 (6,245)

(1,759) 0 0 0 0 (1,532) (3,291) (3,339)

(1,796) 0 0 0 121 (1,504) 0 (3,179) 3,367

5,840 2,501

2,473 5,840

staffs.ac.uk

STATEMENT OF ACCOUNTING POLICIES FOR THE YEAR ENDED 31 JULY 2016 The following accounting policies have been applied consistently in detailing items which are considered material in relation to financial statements. BASIS OF PREPARATION These financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting for Further and Higher Education 2015 (the FEHE SORP) and in accordance with Financial Reporting Standard (FRS102). BASIS OF ACCOUNTING The financial statements are prepared in accordance with the historical cost convention (modified by the revaluation of fixed assets). The University is a public entity and therefore has applied the relevant public benefit requirement of FRS102. Going Concern The University considers that it has sufficient financial resources and is confident that its future income streams will maintain these resources. The Governors believe that the University is well-placed to effectively manage its business risks, despite the current uncertain economic situation. The Governors have a reasonable expectation that the University has adequate resources to continue in operational existence for the foreseeable future. The financial statements continue to be prepared on the going concern basis. ACCOUNTING POLICIES The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the financial statements except as noted below. BASIS OF CONSOLIDATION The consolidated financial statements include the University and all its subsidiaries for the financial year to 31 July 2016. The results of subsidiaries acquired or disposed of during the period, are included in the Consolidated Statement of Comprehensive Income and Expenditure from the date of acquisition or up to the date of disposal.

Transactions without commercial Intra-group transactions are eliminated substance. on consolidation. Where the University receives income on a basis that is without commercial The consolidated financial statements substance it accounts for this on a do not include those of Staffordshire Non-Exchange. Transaction basis. A University Union of Students, as the Non-Exchange Transaction is defined University does not exert control as when; An entity receives value from or dominant influence over policy another entity without directly giving decisions. approximately equal value in exchange. INCOME RECOGNITION Income recognition is determined by the Accrual Model requires: Grants are either classified as a grant nature of the transaction, income source relating to a grant relating to assets. and whether or not the transaction has commercial substance. Grants relating to revenue are Transactions with commercial substance recognised in income on a systematic basis over the periods in which the Where a transaction has commercial University recognises the related costs substance, it is accounted for as a for which the grant is intended to revenue transaction or service and compensate. A grant that becomes referenced to the terms of the contact receivable as compensation for or service. expenses or losses already incurred or for the purpose of giving immediate Tuition fees and educational contracts financial support to the University Fee income is stated gross of any with no future related costs, shall be expenditure which is not a discount recognised in income in the period in and credited to the Consolidated which it becomes receivable. Statement of Comprehensive Income and Expenditure over the period in Grants relating to assets are recognised which students are studying. Where the in income on a systematic basis over amount of the tuition fee is reduced, the expected useful life of the asset. by a discount for prompt payment, income receivable is shown net of the Government Grants discount. Bursaries and scholarships are Both revenue and capital Government accounted for gross of expenditure grants are accounted for under the and not deducted from income. Accrual Model. Sale of goods and services HEFCE funding grants Income from the sale of goods or For funding grants relating to a single services is credited to the Consolidated academic year income is recognised Statement of Comprehensive Income in full in the period to which the grant and Expenditure when the goods or relates. Grants relating to more than services are supplied to the external a single year are recognised pro-rata customer or the terms of the contract across the term of the grant. have been satisfied. Non-Government Grants, Donations Investment income and Endowments Grant and donation Refer to page 48 for investment income income received from a nonrecognition policy. Governmental source, is accounted for under the Accrual Model. Agency Income Funds the University receives and Income is recognised as Donation and disburses as paying agent on behalf Endowment income, with the exception of a funding body, are excluded from of funding for the purposes of research the income and expenditure of the which is recognised as â&#x20AC;&#x2DC;Research Grants University where the University is and Contractsâ&#x20AC;&#x2122;. exposed to minimal risk. Non-government grants and donation income is split into four classes:

Staffordshire University. Financial Statements and Governorsâ&#x20AC;&#x2122; Report 2015/16

FINANCIAL STATEMENTS AND GOVERNORS’ REPORT 2015/16

STATEMENT OF ACCOUNTING POLICIES (continued) FOR THE YEAR ENDED 31 JULY 2016 i) Non-government grants and donated income with performance conditions ii) Donations with restrictions A donation is considered to have a restriction when the gift agreement contains; ‘A requirement that limits or directs the purposes for which a resource may be used that does not meet the definition of a performance-related condition’.

• Where funding is from a Government body, expenditure on the grant purpose is presumed to be the performance condition unless specifically disallowed under the funding agreement. • Funding from charities and industry is accounted for as non-government grant income unless it is demonstrable that a revenue transaction has taken place with near equal value being exchanged.

are determined by qualified actuaries on the basis of quinquennial valuations using a prospective benefit method. The assets of the LGPS are measured using closing market values. LGP liabilities are measured using projected unit method and discounted at the current rate of return on a high quality corporate bond of equivalent term and currency to the liability. The increase in the present value of the liabilities of the scheme are expected to arise from employee service in the period is charged to the operating surplus. The expected return of the scheme’s assets and the increase during the period in the present value of the scheme’s liabilities, arising from the passage of time, are included in pension finance costs. Actuarial gains and losses are recognised in the statement of changes in reserves. Further details of the pension schemes are given in note 27. EMPLOYMENT BENEFITS Short-term employment benefits such as salaries and compensated absences are recognised as an expense in the year in which the employees render service to the University. A liability is recognised at each balance sheet date to the extent that employee holiday allowances have been accrued but not taken, the expense being recognised as staff costs in the Consolidated Statement of Comprehensive Income and Expenditure.

ENDOWMENTS Endowments are a class of donation where the donor requires the original gift to be invested, with the return to be spent against the donor’s charitable aims. The donor can specify that the capital can be spent (expendable endowment) or maintained in perpetuity (permanent endowments). Endowments are Non-Exchange transactions without performancerelated conditions. Endowments with donor imposed restrictions are recognised within the Consolidated Income with neither restrictions nor Statement of Comprehensive Income performance conditions is recognised and Expenditure when the University within the Consolidated Statement is entitled to the income. Income is of Comprehensive Income and Expenditure when the grant is receivable retained within the restricted reserve until such time that it is utilised in line (legal/contractual commitment) and with such restrictions at which point the recorded within unrestricted reserves. income is released to general reserves through a reserve transfer. iv) Endowments Refer to Endowment policy for income POST RETIREMENT BENEFITS recognition on endowments. Retirement benefits to employees of the University are provided by the Teachers’ Capital Grants Pension Scheme (TPS) and the Local Government grants for the purchasing Government Pension Scheme (LGPS). or construction of specific assets are recognised across the useful life of the These are defined benefit schemes asset. which are externally funded and contracted out of the State Earnings Research Income Related Pension Scheme (SERPS). Income recognition for research Contributions to the TPS are charged funding is dependent upon the source as incurred. of the funding and the nature of the transaction. Income is classified as ‘Research Grants and Contracts’ Contributions to the TPS scheme are regardless of source when it meets the charged to the income and expenditure Frascati definition of research. account so as to spread the cost of pensions over employees’ working lives The following specific research with the University in such a way that income recognition criteria has been the pension cost is a substantially applied: level percentage of current and future pensionable payroll. The contributions Income with restrictions, but no performance conditions, is recognised within the Statement of Comprehensive Income and Expenditure when the grant is receivable (legal/contractual commitment) and recorded within restricted reserves. As the funding is expended against the restriction, it is transferred to unrestricted reserves by way of a reserves transfer. iii) Donations without restrictions

staffs.ac.uk

STATEMENT OF ACCOUNTING POLICIES (continued) FOR THE YEAR ENDED 31 JULY 2016 Equipment including computers and Certain items of fixed assets that had OPERATING LEASES software costing less than £1,000 per been re-valued to fair value on the date Costs in respect of operating leases individual item is written off in the year of transition to FRS102, are measured are charged on a straight-line basis over of acquisition. on the basis of deemed cost being the the lease term. Future commitments re-valued amount at the date of that under operating leases are disclosed in BORROWING COSTS revaluation. note 25. Borrowing costs are recognised as an expense in the Consolidated Statement DEPRECIATION FOREIGN CURRENCY of Comprehensive Income and Depreciation is not provided on Transactions in foreign currencies are Expenditure in the period in which they freehold land. Freehold buildings have recorded at the rate of exchange on are incurred. been depreciated over the estimated the transaction date. Monetary assets remaining useful life of each building and liabilities denominated in foreign HERITAGE ASSETS with a base date of 1 August 2014. currencies are reported at the rates Works of art and other valuable artefacts Depreciation on newly acquired of exchange prevailing at the balance valued at over £25,000 are capitalised buildings is provided for at the rate sheet date. Non-monetary assets and and recognised at their cost or value of 2% per annum on a straight-line liabilities measured at historical where reasonably obtainable. basis. cost in a foreign currency are translated using the exchange rate at the date Assets initially received as donations are On all other tangible fixed assets of the transaction. initially recognised at fair value. depreciation is provided to write off the cost or valuation over their useful lives Foreign exchange differences Heritage assets are not depreciated as on a straight-line basis at the following arising on translation are recognised their long economic life residual value annual rates: in the Consolidated Statement mean that any depreciation would not of Comprehensive income and be material. Building Refurbishments Expenditure. 6.67% per annum INVESTMENT PROPERTIES FIXED ASSETS – PROPERTY, PLANT Investment property is land and building Plant and Machinery & EQUIPMENT held for rental income or capital 20% per annum Fixed assets are stated at (cost/deemed appreciation rather than for use in cost) less accumulated depreciation and delivering services. Plant and Machinery (small) accumulated impairment losses 10% per annum as disclosed in note 11. Investment properties are measured initially at cost and subsequently at Fixtures and Fittings Buildings under construction are fair value with movements recognised 20% per annum accounted for at cost. They are not in the Consolidated Statement depreciated until they are brought into of Comprehensive Income and Computer Equipment (general) use. Expenditure. Properties are not 33.3% per annum depreciated but are revalued or A review of impairment of fixed assets reviewed annually according to market Computer Equipment (servers) is carried out if events or changes in conditions as at the 31 July each year. 20% per annum circumstances indicate that the carrying amount of the fixed asset may not be INVESTMENTS Office Furniture and Equipment recoverable. Non current investments are held on 20% per annum the Balance Sheet at amortised cost less Land and buildings inherited from impairment. Vehicles Staffordshire County Council are stated 33.3% per annum in the balance sheet at valuation on Investments in listed shares and venture the basis of depreciated replacement capital vehicles (where shares are Expenditure which extends the useful cost as the open market value for publicly traded or their fair value can be life of an asset has been depreciated existing use is not readily obtainable. reliably measurable) are measured at over the assessed extended life of The associated credit is included in market value. the asset. the revaluation reserve. The difference between depreciation charged on the STOCK Assets held under finance leases are historic cost of assets and the actual Stock is held at the lower of cost and net depreciated over the life of the lease if charge for the year calculated on the realisable value, and is measured using this is a shorter period. revalued amount is released to the an average cost formula. income and expenditure account reserve on an annual basis.

Staffordshire University. Financial Statements and Governors’ Report 2015/16

FINANCIAL STATEMENTS AND GOVERNORS’ REPORT 2015/16

more tax in the future, or right to pay (c) a reliable estimate can be made of CASH AND CASH less tax in the future, have occurred. the amount of obligation. EQUIVALENTS Deferred tax assets are recognised when The amount recognised, as a provision Cash includes cash in hand, cash at it is more likely than not that they will is determined be discounting the bank, deposits repayable on demand be recovered. Deferred tax is measured expected future cash flows at a pre-tax and overdrafts. Deposits are repayable using rates of tax that have enacted or rate that reflects risks specific to the on demand if they are in practice substantively enacted by the balance the liability. available within 24 hours without sheet date. penalty. A contingent liability arises from a ACCOUNTING ESTIMATES past event that gives the University a Cash equivalents are short-term, high AND JUDGEMENTS possible obligation whose existence will liquid investments that are readily The preparation of financial statements only be confirmed by the occurrence convertible to know amounts of cash requires the use of accounting estimates or otherwise of uncertain future events with insignificant risk of change in and assumptions. It also requires not wholly within the control of the value. management to exercise its judgement University. Contingent liabilities also in the process of applying accounting arise in circumstances here a provision These include term deposits and other policies. Estimates, assumptions and would otherwise be made but either instruments with less than three months judgements are continually evaluated it is not probable that an outflow of maturity held as part of the University’s resources will be required or the amount based on available information and treasury management activities. experience. Estimates based on of the obligation cannot be measured assumptions and judgements could reliably. TRANSITION TO FEHE differ significantly from actual results. SORP/FRS 102 A contingent asset arises where an event The areas most affected by the use The University is preparing its financial of estimates and judgements are has taken place that gives the University statements in accordance with FRS 102 described below: a possible asset whose existence will and the FEHE SORP for the first time only be confirmed by the occurrence and consequently has applied the first • Tangible fixed assets or otherwise of uncertain future events time adoption requirements. Tangible fixed assets, other than not wholly within the control of the investment properties, are depreciated University. An explanation of how the transition over their useful lives taking into account to the FEHE SORP has affected the residual values, where appropriate. The Contingent assets and liabilities are not reported financial statement position, actual lives of the assets and residual recognised in the Balance Sheet but are financial performance and cash flows values are assessed annually and may disclosed in the notes. of the consolidated results of the vary depending on a number of factors. Institution is provided in note 29. In re-assessing asset lives, factors TAXATION STATUS Assets and liabilities have been such as technological innovation and measured at historic cost under previous The University is an exempt charity maintenance programmes are taken into within the meaning of Schedule 3 of UK GAAP, as at 31 July 2014, upon account. Residual value assessments the Charities Act 2011 and as such is transition. consider issues such as future market a charity within the meaning of Para 1 conditions, the remaining life of the of Schedule 6 to the Finance Act 2010. Application of first time adoption asset and projected disposal values. Accordingly, the University is potentially grants certain exemptions from the full exempt from taxation in respect of requirements of the FEHE SORP during • Local Government Pension Scheme income or capital gains received within the transition period. The present value of the Local categories covered by Sections 478 to Government Pension Scheme defined 488 of the Corporation Tax Act 2010 The following exemptions have been benefit liability depends on a number (formerly enacted in Section 505 of taken into these financial statements: of factors that are determined on the Income and Corporation Taxes Act an actuarial basis using a variety of 1988) or Section 256 of the Taxation • Fair value has been assessed on assumptions. The assumptions used in of Chargeable Gains Act 1992, to transition to FRS102 with respect to determining the net cost (income) for the extent that such income or gains certain items of University land and pensions include the discount rate. Any are applied exclusively to charitable buildings. changes in these assumptions, which purposes. The University receives no are disclosed in note 27, will impact the similar exemption in respect of Value PROVISIONS, CONTINGENT carrying amount of the pension liability. Added Tax. Irrecoverable VAT on inputs LIABILITIES AND CONTINGENT Furthermore a roll forward approach is included in the costs of such inputs ASSETS which projects results from the latest Provisions are recognised in the financial and added to the cost of tangible fixed full actuarial valuation performed at assets as appropriate, where the inputs statements when: 31 March 2013 has been used by the themselves are tangible fixed assets (a) the University has a present actuary in valuing the pensions liability by nature. The University’s subsidiary obligation (legal or constructive) as a at 31 July 2016. Any differences between company is subject to corporation tax. result of a past event; the figures derived from the roll forward approach and a full actuarial valuation DEFERRED TAXATION (b) it is probable that an outflow of would impact on the carrying amount of Deferred taxation is recognised on all economic benefits will be required to the pension liability. timing differences at the balance sheet settle the obligation; and date where transactions or events that gives the company an obligation to pay staffs.ac.uk

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2016

1. Tuition fees and education contracts Full-time Students - UK/EU Full-time Students - Overseas Part-time Fees Education Contracts Short Course Fees

Year Ended 31 July 2016

Year Ended 31 July 2015

Consolidated University £’000 £’000

Consolidated £’000

University £’000

61,468 4,258 7,561 7,443 4,216 84,946

60,202 5,953 7,154 6,984 4,277 84,570

4,138 7,771 37 1,208 13,154

7,687 7,914 51 1,641 17,293

0 77 77 547 120 344

7 75 100 245 566 273

1,165

1,266

6,093 5,355 810 1,827 86 14,171

6,093 5,355 666 5,911 86 18,111

6,085 4,107 1,109 1,932 1,519 14,752

6,085 4,107 1,079 1,680 1,519 14,470

2. Funding body grants Recurrent Grant - Higher Education Funding Council Research & Selective Initiatives National College for Teaching and Leadership Capital Grant

3. Research grants and contracts Research councils UK Based Charities UK Industry & Commerce UK Central Government/Health Authorities European Community Programmes Other Research Grants & Contracts

4. Other income Residences, catering and conferences Consultancy/Self-financing Fees Other Rents/lettings Other Income * Release from deferred capital grants (non-funding council)

* University - Other income includes £4,344 relating to a gain on acquisition of an asset sold in the year by the University’s subsidiary Friends of Staffordshire University Charitable Trust to the University. 5. Investment income Investment income on endowments Other investment income

0 427

0 453

427

453

0 0 64

0 0 58

6. Donations and endowments New endowments Donations with restrictions Unrestricted donations

25 22

Staffordshire University. Financial Statements and Governors’ Report 2015/16

FINANCIAL STATEMENTS AND GOVERNORS’ REPORT 2015/16

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2016 Year Ended 31 July 2016 7. Staff costs

Year Ended 31 July 2015

Consolidated University £’000 £’000

Consolidated £’000

University £’000

Salaries Social Security costs Other pension costs Pension adjustment Redundancy/Managed Severance Scheme

47,847 4,085 9,108 297 1,057

47,645 3,974 9,082 297 1,057

49,991 3,836 8,899 537 1,665

49,662 3,824 8,866 537 1,665

Total

62,394

62,055

64,928

64,554

132,597 9,664 142,261 0 142,261

170,138 4,170 174,308 0 174,308

63,333 0 63,333 10,437 73,770

0 0 0 0 0

Emoluments of the Vice-Chancellor Professor M Gunn to 31 March 2016 Salary Benefits Pension contributions to Teachers’ Pension

Emoluments of the Vice-Chancellor Professor E Barnes from 1 April 2016 Salary Benefits Pension contributions to Teachers’ Pension

£ 63,333 0 63,333 10,437 73,770 Year Ended 31 July 2016

Remuneration of other higher paid staff earning over £100,000, including employer’s pension contributions are shown before any salary sacrifice:

£130,000 to £139,999 £140,000 to £149,999

2 2 4

Average staff numbers by major category: Academic Academic Technicians Administrative, Professional & Clerical Staff Management (Academic) Management (Non Academic) Manual

Year Ended 31 July 2015

No 2 1 3

536 69 628 30 42 69 1,374

557 71 621 31 44 81 1,405

Key management personnel Key management personnel are the Senior Leadership Team (SLT) who have authority and responsibility for planning, directing and controlling the activities of the University. SLT members 72 (2014/15 - SLT members 69). This includes compensation paid to key management personnel. Year Ended 31 Year Ended July 2015 31 July 2016 £’000 £’000 Key management personnel

5,938

5,247 staffs.ac.uk

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2016 7 Staff costs (continued) Council Members The University’s council members are the trustees for charitable law purposes. Due to the nature of the University’s operations and the compositions of the Council, being drawn from local public and private sector organisations, it is inevitable that transactions will take place with organisations in which a member of the Council may have an interest. All transactions involving organisations in which a member of Council may have an interest, including those identified below, are conducted at arms length and in accordance with the University’s Financial Regulations and usual procurement procedures. No Council member has received any remuneration/waived payments from the group during the year (2015 - none) The total expenses paid to or on behalf of six Council members was £3.5k (2015 - £4k to seven Council members). This represents travel and subsistence expenses incurred in attending Council, Committee meetings and Charity events in their official capacity.

Year Ended 31 July 2016 Notes 8. Interest and other finance costs Loan interest Net charge on pension scheme

Year Ended 31 July 2015

Consolidated University £’000 £’000

Consolidated £’000

University £’000

1,759 3,158

1,789 2,941

4,917

4,730

Staffordshire University. Financial Statements and Governors’ Report 2015/16

FINANCIAL STATEMENTS AND GOVERNORS’ REPORT 2015/16

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2016 9. Other Operating Expenses Consumables Equipment and Tools Software Support Maintenance Operating Lease Books and Periodicals Printing - External and Internal Protective Clothing/ Laundry/Uniforms Repairs and General Maintenance Heat, Light, Water and Power Rent and Rates Staff and Student Development Travel and Subsistence Students’ Union Contributions Auditors’ Remuneration Audit Services (Corp) Auditors’ Remuneration Audit Services (Subs) Auditors’ Remuneration Non-Audit Services Internal Audit Costs Payments to Franchise Colleges Telephone and Postage Insurance Publicity and Prospectus Examinations/Awards Day Subscriptions Vehicle Hire/Lease Other Expenses Management Charge Professional Charges Consultancy Technical and Design Work Legal Charges Agency Servicing Security Movement in Prov’n for Bad/Doubtful Debts Placement Fees Registration Fees Grant Payments (External Activity) Bursary Payments* Hospitality Student Awards/Expenses Bank Charges Gains/Losses on Euro Exchange

Year Ended 31 July 2016 Consolidated University £’000 £’000

Year Ended 31 July 2015 Consolidated University £’000 £’000

1,692 2,057 1,255 209 1,156 451 74 4,760 2,521 479 1,544 1,373 950 53 5 48 164 7,387 498 330 1,506 370 618 172 229 0 413 1,825 470 251 288 422 140 327 182 104 599 91 644 112 (95)

1,691 2,026 1,255 209 1,156 450 74 4,746 2,460 474 1,544 1,371 950 53 0 48 164 7,387 497 327 1,499 370 614 172 229 128 407 1,743 470 251 288 422 132 327 182 104 599 91 643 111 (95)

1,626 2,002 1,182 439 1,418 322 77 3,365 2,542 538 1,230 1,296 950 47 7 10 103 8,307 464 288 1,575 383 606 196 104 0 667 1,915 246 202 458 445 91 404 174 61 1,291 61 312 84 98

1,625 1,980 1,182 439 1,418 321 76 3,354 2,482 711 1,230 1,292 950 47 0 8 103 8,307 464 286 1,573 383 603 196 104 132 661 1,850 245 202 458 445 101 404 174 61 1,291 61 312 82 97

35,674

35,569

35,586

35,710

* Bursary payments have reduced due to the increase in fee waivers within the income section. 10 Taxation

Year Ended 31 July 2016

Year Ended 31 July 2015

Recognised in the statement of comprehensive income Current tax Current tax expense Adjustment in respect of previous years Current tax expense

0 0 0

Deferred tax Origination and reversal of timing differences Reduction in tax rate Recognition of previously unrecognised tax losses Deferred tax expense

0 0 0 0

Total tax expense

0 staffs.ac.uk

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2016 11 Fixed Assets Consolidated

Cost or valuation At 1 August 2015 Additions Reclassification Disposals At 31 July 2016 Depreciation At 1 August 2015 Charge for the year Disposals At 31 July 2016 Net book value At 31 July 2016 At 31 July 2015 University Cost and valuation At 1 August 2015 Additions Reclassification Transfer * Disposals At 31 July 2016 Depreciation At 1 August 2015 Charge for the year Disposals At 31 July 2016 Net book value At 31 July 2016 At 31 July 2015

Other Computer Equipment Motor Heritage Equipment & Fittings Vehicles Assets £’000 £’000 £’000 £’000

Freehold Land and Buildings £’000

Assets in the Course of Construction £’000

Investment Properties £’000

201,167 4,020 1,982 (1) 207,168

5,745 25,667 (2,422) 0 28,990

2,265 0 0 0 2,265

21,571 2,301 440 (382) 23,930

19,786 950 0 (70) 20,666

141 0 0 0 141

3,800 0 0 (2,500) 1,300

254,475 32,938 0 (2,953) 284,460

68,065 5,352 (3,968) 69,449

0 0 0 0

15,426 2,470 (694) 17,202

12,638 1,564 (90) 14,112

116 18 0 134

0 0 0 0

96,245 9,404 (4,752) 100,897

137,719

28,990

2,265

6,728

6,554

1,300

183,563

133,102

5,745

2,265

6,145

7,148

3,800

158,230

190,115 8,336 1,982 4,924 0 205,357

5,745 25,667 (2,422) 0 0 28,990

2,265 0 0 0 2,265

21,571 2,301 440 0 (382) 23,930

19,679 950 0 0 (70) 20,559

141 0 0 0 . 141

3,800 0 0 0 (2,500) 1,300

243,316 37,254 0 4,924 (2,952) 282,542

62,107 5,555 (1) 67,661

0 0 0 0

15,425 2,156 (379) 17,202

12,538 1,524 (57) 14,005

116 18 0 134

0 0 0 0

90,186 9,253 (437) 99,002

137,696

28,990

2,265

6,728

6,554

1,300

183,540

128,008

5,745

2,265

6,146

7,141

3,800

153,130

Total £’000

* The transfer within the fixed assets of the University relate to an acquisition of an asset by the University from the university’s subsidiary Friends of Staffordshire University Charitable Trust.

land was revalued on an open market, existing use basis at the same date. Computer equipment, other equipment and fittings belonging to the University were revalued at 31 July 1995.

Freehold buildings at the University’s Stoke campus, Blackheath Lane and Lichfield were re-valued on a depreciated replacement cost basis by GVA BiLFINGER, an independent Chartered Surveyor as at 1 August 2014. All Freehold land was re-valued on an open market, existing use basis at the same date. As a fist time adopter of FRS102 the University has used those fair values as its deemed cost at 1 August 2014 in accordance with GRS102 paragraph 35.10(c).

In December 1996 the University entered into an agreement with Tamworth and Lichfield College (now South Staffordshire College, see note 15, page 56) to provide a new campus facility at Lichfield. The cost of this project was £3.2 million. The project was partly funded by a grant from the European Regional Development Fund and by a loan taken out by the University. Responsibility for the loan is shared jointly by the University and the College and the value of the College ‘s commitment is shown as a long term debtor in the University’s Balance Sheet (see note 15). During 2002/03 the University and the South Staffordshire College entered into an agreement for the development of a second phase at the Lichfield campus. This phase was partly funded by a loan facility taken out by the College. Responsibility for the loan is shared jointly by the University and the College and the value of the of the University’s commitment is shown as a long-term creditor in the University’s Balance Sheet (see note 19).

At 31 July 2016, Freehold land and buildings included £19.5 million (2014/15: £19.5 million) in respect of Freehold land and is not depreciated. As a result of the Education Reform Act 1988, the freehold and leasehold interests in properties occupied by the Corporation, previously held by Staffordshire County Council, were formally transferred, under the direction of the Education Assets Board, to the Corporation itself with effect from 1 April 1989. Freehold buildings, to which the Corporation now has title, were professionally revalued at 1 August 2014 on the basis of replacement cost at that date. Freehold

Staffordshire University. Financial Statements and Governors’ Report 2015/16

FINANCIAL STATEMENTS AND GOVERNORS’ REPORT 2015/16

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2016 12. Heritage assets The Thornhill Bequest, a collection of medieval Chinese pottery owned by the University. The value is based on an auction sale estimate by Sotherby’s. Year Ended 31 July 2016

Year Ended 31 July 2015

Consolidated & University £’000

3,800 0 (2,500)

3,800 0 0

1,300

3,800

Valuation Additions Disposals

13. Non-Current Investments Consolidated Subsidiary companies £’000

Subsidiary investment in spinouts £’000

Other fixed assets investments £’000

Total £’000

At 1 August 2015

Additions Disposals Impairment

0 0 0

At 31 July 2016

0 0 0 0 74

£’000

At 1 August 2015

Additions Disposals Impairment

0 0 0

At 31 July 2016

0 0 0 0 74

University

Other non-current investments consist of :

Consolidated & University £’000

CVCP Properties Limited Mercia Technologies PLC

33 41 0 74

Non-Current investments represent £33k investment (0.78% of the issued share The group has chosen not to attribute any value to these investments within capital) in CVCP Properties Limited, which is a Company registered in Great Britain the financial statements and will review as they become further established. and incorporated in England and Wales and £41k investment (0.0003% of the issued Staffordshire University Unitemps Ltd, was established to act as an employment share capital) in Mercia Technologies PLC. The group holds shares in a number agency primarily employing students and providing services both internal and of spin out companies and companies which have been set up through Research external to the University. Other subsidiaries are detailed below. Business and Employability Services. Staffordshire University Enterprises Ltd, a company incorporated in and operating The group shareholding is as follows: in Great Britain and registered in England and Wales. The main areas of activity of AVA Technologies Ltd 37% Staffordshire University Enterprises Limited, are the undertaking of consultancy work Echo Breaker Research and Analysis Ltd 15% and the operation of recreational activities. Eris Technology Ltd 30% Grand Independent Ltd 30% Friends of Staffordshire University Charitable Trust is regarded as a High House Collections Ltd 100% quasi-subsidiary of the University under the definition provided in Financial Reporting Standard 102. Under the provisions of this standard, the accounts of the Trust have been consolidated in the group accounts of the University for the year ended 31 July 2016.

staffs.ac.uk

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2016 14 Stock

Year Ended 31 July 2016

Year Ended 31 July 2015

Consolidated £’000

University £’000

Consolidated £’000

University £’000

0 0

131 131

Consolidated £’000

University £’000

Consolidated £’000

University £’000

148

Consolidated £’000

University £’000

Consolidated £’000

University £’000

7,371 271 3,786 0 11,428

7,155 264 3,786 13,020 24,225

4,586 390 4,859 0 9,835

4,774 125 4,859 10,975 20,733

Consolidated £’000

University £’000

Consolidated £’000

University £’000

2,501 2,501

2,485 2,485

5,840 5,840

5,737 5,737

Finished goods

15 Trade and other receivables Amounts falling due after more than one year: Amounts owed under joint arrangement with South Staffordshire College Phase 1

16 Trade and other receivables Amounts falling due within one year: Other trade receivables Other receivables Prepayments and accrued income Amounts due from subsidiary companies 17 Cash and Cash Equivalents Cash and cash equivalents

Deposits are held with banks and building societies operating in the London market and licensed by the Financial Services Authority with less than three months maturity at the balance sheet date. The interest rates for these deposits are fixed for the duration of the deposit at time of placement. 18 Creditors: amounts falling due within one year Consolidated £’000

University £’000

Consolidated £’000

University £’000

1,508 3,416 2,940 28,900 906 0

1,508 3,411 2,906 28,741 905 11,315

1,457 5,311 2,706 17,080 619 0

1,457 5,409 2,665 16,950 619 8,679

37,670

48,786

27,173

35,779

Unsecured loans Trade payables Social Security and other taxation payable Accruals and deferred income Other Creditors Amounts owed to subsidiary companies

Staffordshire University. Financial Statements and Governors’ Report 2015/16

FINANCIAL STATEMENTS AND GOVERNORS’ REPORT 2015/16

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2016 19 Creditors: amounts falling due after more than one year Deferred income Secured loans

Analysis of secured and unsecured loans: Due within one year or on demand (Note 19) Due between one and two years Due between two and five years Due in five years or more Due after more than one year Total secured and unsecured loans

Year Ended 31 July 2016

Year Ended 31 July 2015

Consolidated University £’000 £’000

Consolidated £’000

University £’000

19,277 43,273

25,627 44,771

62,550

70,398

1,508 1,548 4,886 36,839 43,273 44,781

1,457 1,508 4,734 38,529 44,771 46,228

Deferred income represents deferred capital government grants which are now required under FRS102 to be reported as a long term creditor. A term loan facility of £34 million was drawn down on the 2 September 2013. The interest basis of the loan is 25 years fixed at 3.2% A loan facility of £54k was drawn down on the 20 March 2014 from Salix Finance Ltd as part of their Energy Efficiency Programme. The loan is interest free, repayable over four years. A new loan facility of £121k was drawn down on 17 September 2014 from HEFCE as part of their Revolving Green fund. The loan is interest free payable over four years. South Staffordshire College was formed as a merger of the Colleges of Rodbaston, Cannock and Tamworth & Lichfield on 1 August 2008. During 2002/2003 a development of a second phase at the Lichfield campus which was partly funded by a loan facility taken out by the College. The responsibility of the loan is shared jointly by the University and the College and is shown as a long-term creditor. 20 Provisions for liabilities Consolidated

At 1 August 2015 Utilised in year Additions in 2015/16 Unused amounts reversed in 2015/16 At 31 July 2016 University At 1 August 2015 Utilised in year Additions in 2015/16 Unused amounts reversed in 2015/16 At 31 July 2016

Pension enhancements on termination £’000

Onerous Lease/ Dilapidations

Restructuring

Total

£’000

1,003 (122) 313 0

1,130 (46) 0 0

818 (818) 315 0

2,951 (986) 628 0

1,194

1,084

315

2,593

Pension enhancements on termination £’000

Onerous Lease/ Dilapidations

Restructuring

Total

£’000

1,003 (122) 313 0

1,130 (46) 0 0

818 (818) 315 0

2,951 (986) 628 0

1,194

1,084

315

2,593 staffs.ac.uk

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2016 21 Endowment Reserves Consolidated & University Restricted net assets relating to endowments are as follows: Balances at 1 August 2015 Capital Accumulated income New endowments Investment income Expenditure (Decrease)/increase in market value of investments Total endowment comprehensive income for the year At 31 July 2016 Represented by: Capital Accumulated income Analysis by type of purpose: Prize funds

Restricted permanent endowments £’000

Year Ended 2016 Total £’000

Year Ended 2015 Total £’000

22 4 26

0 0 0

22 4 26

Staffordshire University. Financial Statements and Governors’ Report 2015/16

FINANCIAL STATEMENTS AND GOVERNORS’ REPORT 2015/16

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2016 22 Restricted Reserves - Consolidated & University Reserves with restrictions are as follows:

Year Ended 2016 Total £’000

2015 Total £’000

3,800

New grants New donations Investment income Capital grants utilised Gain on disposal (Decrease)/increase in market value of investments

0 0 0 0 788 0

0 0 0 0 0 0

Total restricted comprehensive income for the year

788

At 31 July 2016

4,588

3,800

Analysis of other restricted funds/donations by type of purpose: Lectureships Scholarships and bursaries Research support Prize funds General

2016 Total £’000 0 0 0 0 4,588

2015 Total £’000 0 0 0 0 3,800

4,588

3,800

Balances at 1 August 2015

23 Cash & Short-Term Investments Consolidated Cash & short-term investments Bank overdraft

At 31st July 2016 £’000

Cash Flows £’000

At 1st August 2015 £’000

42,046 0 42,046

(15,039) 0 (15,039)

57,085 0 57,085

Cash and short-term investments are held with banks and building societies operating in the London market and licensed by the Financial Services Authority with more than three months maturity at the balance sheet date.

staffs.ac.uk

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2016 24 Capital and other commitments Provision has not been made for the following capital commitments at 31 July 2016: Year Ended 31 July 2016

Commitments contracted for Approved not contracted for

Year Ended 31 July 2015

Consolidated University £’000 £’000

Consolidated £’000

University £’000

14,797 2,850 17,647

49,590 501 50,091

14,797 2,850 17,647

25 Lease obligations Total rentals payable under operating leases: Year Ended 31 July 2016 Consolidated & University

Year Ended 31 July 2015

Land and Buildings £’000

Other leases £’000

Total £’000

31 July 2015 £’000

197

247

264

1,049 1,433 264 2,746

1 0 0 1

1,050 1,433 264 2,747

174 302 330 806

Payable during the year Future minimum lease payments due: Not later than 1 year Later than 1 year and not later than 5 years Later than 5 years Total lease payments due

26 Contingent Liabilities The University is a member of U.M Association Limited, a company limited by guarantee, formed to provide a mutual association for terrorism risk. Under the terms of its membership, each member acts as insurer and insured. If the Association as a whole suffers a shortfall in any underwriting year, the members are liable for their prorated share, spread using a bank facility over 7 years. The University is a guarantor, on a joint and several basis with a bank facility. No liability has yet arisen under this guarantee.

Staffordshire University. Financial Statements and Governors’ Report 2015/16

FINANCIAL STATEMENTS AND GOVERNORS’ REPORT 2015/16

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2016 27 Pension Costs Retirement benefits for employees of the University are provided by defined benefit schemes, which are funded by contributions from the University and employees. Payments are made to the Teachers’ Pension Scheme for academic staff and to the Staffordshire County Council Superannuation Scheme (LGPS) for non-academic staff. These are both independently administered schemes. Total employees and employers contributions to the Teachers’ Superannuation Scheme for 2015/16 were £5,762k (2014/15 £5,791k) and for the Staffordshire County Council Superannuation Scheme £5,467k (2014/15 £5,533k. Funded liabilities comprise of approximately £203m in respect of employee members, deferred pensioners and pensioners. For unfunded liabilities it is assumed that all unfunded pensions are payable for the remainder of the member’s life. It is further assumed that 90% of pensioners are married (or cohabiting) at death and that their spouse (cohabitee) will receive a pension of 50% of the member’s pension as at the date of the member’s death. Teachers’ Pension Scheme The Teachers’ Pension Scheme (TPS) is a statutory, contributory, defined benefit scheme, governed by the Teachers’ Pensions Regulations 2010, and, from 1 April 2014, by the Teachers’ Pension Scheme Regulations 2014. These regulations apply to teachers in schools and other educational establishments, including academies, in England and Wales that are maintained by Local Authorities. In addition, teachers in many independent and voluntary-aided schools and teachers and lecturers in some establishments of Further and Higher Education may be eligible for membership. Membership is automatic for full-time teachers and lecturers and, from 1 January 2007, automatic too for teachers and lecturers in part-time employment following appointment or a change of contract. Teachers and lecturers are able to opt out of the TPS. The Teachers’ Pension Budgeting and Valuation Account Although members may be employed by various bodies, their retirement and other pension benefits are set out in regulations made under the Superannuation Act 1972 and are paid by public funds provided by Parliament. The TPS is an unfunded scheme and members contribute on a ’pay as you go‘ basis – these contributions, along with those made by employers, are credited to the Exchequer under arrangements governed by the above Act. The Teachers’ Pensions Regulations 2010 require an annual account, the Teachers’ Pension Budgeting and Valuation Account, to be kept of receipts and expenditure (including the cost of pension increases). From 1 April 2001, the Account has been credited with a real rate of return, which is equivalent to assuming that the balance in the Account is invested in notional investments that produce that real rate of return. Valuation of The Teachers’ Pension Scheme The latest actuarial review of the TPS was carried out as at 31 March 2016 and in accordance with The Public Service Pensions (Valuations and Employer Cost Cap) Directions 2014. The valuation report was published by the Department for Education (the Department) on 9 June 2014. The key results of the valuation are: • Employer contribution rates were set at 16.4% of pensionable pay • Total scheme liabilities for service to the effective date of £191.5 billion, and notional assets of £176.6 billion, giving a notional past service deficit of £14.9 billion • an employer cost cap of 10.9% of pensionable pay. The new employer contribution rate for the TPS will be implemented in September 2015. A full copy of the valuation report and supporting documentation can be found on the Teachers’ Pension Scheme website at the following location: https://www.teacherspensions.co.uk/news/employers/2014/06/publication-of-the-valuation-report.aspx

staffs.ac.uk

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2016 27 Pension Costs (Continued) Scheme Changes Following the Hutton Report in March 2011 and the subsequent consultations with trade unions and other representative bodies on reform of the TPS, the Department published a Proposed Final Agreement, setting out the design for a reformed TPS to be implemented from 1 April 2015. The key provisions of the reformed scheme include: a pension based on career average earnings; an accrual rate of 1/57th; and a Normal Pension Age equal to State Pension Age, but with options to enable members to retire earlier or later than their Normal Pension Age. Importantly, pension benefits built up before 1 April 2015 will be fully protected. In addition, the Proposed Final Agreement includes a Government commitment that those within 10 years of Normal Pension Age on 1 April 2012, will see no change to the age at which they can retire, and no decrease in the amount of pension they receive when they retire. There will also be further transitional protection, tapered over a three and a half year period, for people who would fall up to three and a half years outside of the 10 year protection. Regulations giving effect to a reformed Teachers’ Pension Scheme came into force on 1 April 2014 and the reformed scheme will commence on 1 April 2015. Local Government Pension Scheme The LPGS is a defined benefit statutory scheme, administered in accordance with the Local Government Pension Scheme (Benefits, Membership and Contributions) Regulations 2007, the Local Government Pension Scheme (Administration) Regulations 2008 and the Local Government Pension Scheme (Transitional Provisions) Regulations 2008. It is contracted out of the State Second Pension. The agreed contribution rates for future years are 16.6% plus an increasing annual sum for the employer and between 5.5% and 12.5% for employees. The latest formal valuation of the Fund for the purpose of setting employers’ actual contributions was as at 31 March 2016, with the next formal valuation due as at 31 March 2019. A valuation of the Fund’s liabilities as at 31 July 2016 has been undertaken by the Fund’s actuary for the purpose of FRS 102 “Retirement Benefits”. The following valuation data has been used for the purposes of this disclosure. The individual membership data submitted as at the 31 March 2016 for the purpose of the funding valuation at that date (or for employers which have joined the Fund after 31 March 2016, membership data as at the date of joining); The individual pensioner data in respect of LGPS unfunded pensions and teachers’ pensions where appropriate; The latest numbers of employees, deferred pensioners and pensioners; Actual payroll data information up to the latest available date; Employer and employee contributions up to the latest available date (in order to estimate contribution income and pensionable payroll for the accounting period this year); The actual split of the fund assets as at the latest available date; The actual Fund returns provided up to the latest available date;

Staffordshire University. Financial Statements and Governors’ Report 2015/16

FINANCIAL STATEMENTS AND GOVERNORSâ&#x20AC;&#x2122; REPORT 2015/16

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2016 27 Pension Costs (Continued) Local Government Pension Scheme (Continued) Any new early retirements from 1 August 2016 to the latest available date on unreduced pensions which are not anticipated in the normal employer service cost (e.g. non ill-health retirements before the memberâ&#x20AC;&#x2122;s benefits can be taken unreduced), as set out in Section 1 of the Results Schedule. The following information is based upon a full actuarial valuation of the Fund at 31 March 2016. Salary increases are 1% pa nominal until 31 March 2015, reverting to the long-term rate shown thereafter. Changes to the Local Government Pension Scheme (LGPS under regulation 3 of the LGPS (Amendment) Regulations 2006 (statutory Instrument 2006/966) permits employees retiring on or after 6 April 2006 to take an extra increase in their lump sum payment on retirement in exchange for a reduction in their future annual pension. Commutation An allowance is included for future retirements to elect to take 50% of the maximum additional tax-free cash up to HMRC limits for the pre-April 2008 and 75% of the maximum tax-free cash for post-April 2008 service. At 31 July 2016 At 31 July 2015 Rate of increase in salaries 3.90% 4.5% Rate of increase for pensions 1.90% 2.6% Discount rate for liabilities 2.40% 3.6%

staffs.ac.uk

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2016 27 Pension Costs (Continued) Mortality Assumptions Life expectancy is based on the fund’s VitaCurves with improvements from 2007 in line with the medium cohort and a 1.25% pa underpin. Based on these assumptions, the average future life expectancies at age 65 are summarised below: Males Females Current Pensioners 22.1 years 24.3 years Future Pensioners 24.3 years 26.6 years Historic Mortality Life expectancy for the prior year end is based on the fund’s VitaCurves. The allowance for the future life expectancies are shown below: Year Ended Prospective Pensioners Pensioners 31 July 2016 CMI 2010 model assuming CMI 2010 model assuming the current rate of the current rate of improvement has reached improvement has reached a peak and will converge to a peak and will converge to a long-term rate of 1.25% a long-term rate of 1.25%

The assets in the scheme and the expected rates of return were:

Proportion of each asset type at 31 July 2016

Value at 31 July 2016 £’000

Proportion of each asset type at 31 July 2015

Value at 31 July 2015 £’000

Equities

77%

113,373

74%

95,391

Bonds

10%

14,724

11%

14,180

Property

11,779

11,602

Cash

7,362

7,734

Total Market Value of Assets

128,907

147,238

Year ended 31 July 2016 £’000

Year ended 31 July 2015 £’000

128,907 147,238 Group’s estimated asset share (216,357) (249,637) Present value of scheme liabilities (87,450) (102,399) Deficit in the scheme Under the arrangements of FRS102, a provision has been made by the Group for the Institution’s share of the deficit of the scheme.

Staffordshire University. Financial Statements and Governors’ Report 2015/16

FINANCIAL STATEMENTS AND GOVERNORS’ REPORT 2015/16

27 PENSION COSTS (CONTINUED) ANALYSIS OF THE AMOUNT CHARGED TO THE INCOME AND EXPENDITURE ACCOUNT Employer service cost (net of employee contributions) Past service cost Curtailment and Settlements Total operating cost Analysis of pension finance income/costs

Expected return on pension scheme assets Interest on pension scheme liabilities Pension finance costs

Year ended 31July 2016 £’000 5,377 163 0 5,540

Year ended 31July 2015 £’000 5,264 180 131 5,575

Year ended 31July 2016 £’000 4,667 (7,825) (3,158)

Year ended 31July 2015 £’000 4,762 (7,703) (2,941)

Amounts recognised in the Statement of Total Recognised Gains and Losses (STRGL) Actuarial loss recognised in STRGL Reconciliation of defined benefit obligation

Opening Defined Benefit Obligation Current service cost Interest Cost Contributions by Members Actuarial losses Past Service Costs (including Curtailments) Unfunded Benefits Paid Benefits Paid Closing Defined Benefit Obligation Reconciliation of fair value of employer assets

Opening Fair Value of Employer Assets Expected Return on Assets Contribution by Members Contributions by the Employer Contributions in respected of Unfunded Benefits Actuarial Gains/(Losses) Estimated Unfunded Benefits paid Estimated Benefits Paid Closing Fair Value of Employer Assets Movement in deficit during the year

Deficit in scheme as 31 July 2015 Movement in year: Current service charge Contributions Contributions in respected of Unfunded Benefits Past service costs Net interest on assets Actuarial loss Deficit in scheme as 31 July 2016

(11,237)

(10,672)

Year ended 31July 2016 £’000 216,357 5,377 7,825 1,295 23,408 163 (657) (4,131) 249,637

Year ended 31July 2015 £’000 191,662 5,264 7,703 1,422 14,874 311 (711) (4,168) 216,357

Year ended 31July 2016 £’000 128,907 4,667 1,295 4,329 657 12,171 (657) (4,131) 147,238

Year ended 31July 2015 £’000 118,362 4,762 1,422 4,327 711 4,202 (711) (4,168) 128,907

Year ended 31July 2016 £’000 (87,450) (5,377) 4,329 657 (163) (3,158) (11,237) (102,399)

Year ended 31July 2015 £’000 (73,300) (5,264) 4,327 711 (311) (2,941) (10,672) (87,450) staffs.ac.uk

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2016 28 National College for Teaching and Leadership (NCTL) Year Ended 31 July 2016

Year Ended 31 July 2015

(a) Student Bursaries

£’000

Opening fund balance Net NCTL grants received in year Disbursed to students

60 411 (450)

36 588 (564)

Balance Unspent at 31 July owing to the NCTL

29 Connected Charitable Institutions & Related Party Transactions

Friends of Staffordshire University Charitable Trust

Opening balance £’000

Income £’000

Expenditure £’000

Closing balance £’000

4,435

(4,435)

The principle activity of Friends of Staffordshire University Charitable Trust, was to act as a property manager for properties leased from Staffordshire University. Related Party Transactions Due to the nature of the University’s operations and the composition of the Board of Governors (being drawn from local public and private sector organisations) it is inevitable that transactions will take place with organisations in which a member of the Board of Governors may have an interest. All such transactions are conducted at arm’s length and in accordance with the University’s Financial Regulations and Standing Orders Relating to Contracts and normal procurement procedures. Included with the accounts for the period are transactions between: Staffordshire University Academy Trust and Staffordshire University. Purchases by the University amounted to £5k (2014/15: £3k) and sales £109k (2014/15: £68k). Staffordshire University Academy Trust and Staffordshire University Unitemps Ltd. Purchases by Unitemps £nil (2014/15: £nil) and sales £7k (2014/15: £6k) 30 Events after the End of the Reporting Period Non adjusting events - On 16 November 2016 the University completed the sale of its Beaconside campus for an undisclosed amount. 31 Transition to FRS102 and the 2015 SORP

As explained in the accounting policies, these are the University’s first financial statements prepared in accordance with FRS 102 and the SORP. The accounting policies set out on pages 46 to 49, have been applied in preparing the financial statements for the year ended 2016, the comparative information presented in these financial statements for the year ended 2015 and in the preparation of an opening FRS 102 Statement of Financial Position at 1 August 2014. In preparing its FRS 102, SORP-based Statement of Financial Position, the University has adjusted amounts reported previously in financial statements prepared in accordance with its old basis of accounting (2007 SORP). An explanation of how the transition to FRS 102 and the SORP has affected the University’s financial position, financial performance and cash flows is set out in the following tables on pages 67-70.

Staffordshire University. Financial Statements and Governors’ Report 2015/16

FINANCIAL STATEMENTS AND GOVERNORS’ REPORT 2015/16

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2016 1 August 2014 31 Transition to FRS102 and the 2015 SORP CONSOLIDATED Effect of transition to 2007 SORP Notes 2015 SORP £’000 £’000 Non-current assets Fixed assets 126,747 a 30,295 Heritage assets 0 b 3,800 Investments 33 0 126,780 34,095 Endowment assets 26 (26) Current assets Stock 140 0 Assets held for resale 1,318 0 Trade and other receivables 8,395 0 Cash and cash equivalents 0 2,473 Investments 58,847 (2,447) 68,700 26 Less: Creditors: Amounts falling due within one year (29,400) c 2,415 Net current (liabilities)/assets 39,300 (2,389) Total assets less current liabilities 166,106 31,680 Recorded within other Comprehensive Income. Creditors: amounts falling due after more than one year (46,452) c (22,481) Provisions Provisions for liabilities Other pension liability (2,147) 0 Other provision (73,300) 0 Total net assets Deferred capital grants Restricted Reserves Income and expenditure reserve endowment reserve Income and expenditure reserve restricted reserve Unrestricted Reserves Income and expenditure reserve unrestricted Revaluation reserve Non-controlling interest Total Reserves

31 July 2015

2015 SORP £’000

Effect of transition to 2015 SORP £’000

157,042 3,800 33 160,875

124,135 0 74 124,209

30,295 3,800 0 34,095

154,430 3,800 74 158,304

(26)

140 1,318 8,395 2,473 56,400 68,726

131 0 9,735 0 62,901 72,767

0 0 248 5,840 (5,816) 272

131 0 9,983 5,840 57,085 73,039

(26,985)

(25,456)

(1,717)

(27,173)

36,911

47,311

(1,445)

45,866

197,786

171,546

32,624

204,170

(68,933)

(44,862)

(25,536)

(70,398)

(2,951) (87,450) 0

0 0 0

(2,951) (87,450) 0

2015 SORP £’000

(2,147) (73,300) 0

44,207

9,199

53,406

36,283

7,088

43,371

25,040

(25,040)

28,228

(28,228)

3,800

c a,c

(17,469) 36,610 19,167 0 44,207

333 30,106 34,239 0 9,199

(17,136) 66,716 53,406 0 53,406

(26,388) 34,417 8,055 0 36,283

1,834 29,682 35,316 0 7,088

(24,554) 64,099 43,371 0 43,371

Notes to the reconciliation of reserves Reconciliation of surplus/(deficit) for 2015 a) Revaluation of land and selected buildings b) Thornhill collection c) Deferred capital grants. d) Endowments e) Debtors f) Cash/investments Further details are shown on page 8 within the Operating and Financial Review

staffs.ac.uk

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2016 31 Transition to FRS102 and the 2015 SORP UNIVERSITY Non-current assets Intangible assets and goodwill Fixed Assets Heritage assets Investments Investment in joint venture Investments in associate Endowment assets Current assets Stock Assets held for resale Trade and other receivables Cash and cash equivalents Investments Less: Creditors: Amounts falling due within one year Service concession liabilities due within one year Share of net liabilities in associate Net current (liabilities)/ assets Total assets less current liabilities recorded within other Comprehensive Income. Creditors: amounts falling due after more than one year Provisions Provisions for liabilities Other pension liability Other provision Total net assets Deferred capital grants Restricted Reserves Income and expenditure reserve endowment reserve Income and expenditure reserve - restricted reserve Unrestricted Reserves Income and expenditure reserve - unrestricted Revaluation reserve Non-controlling interest Total Reserves

Notes

1 August 2014 Effect of transition to 2007 SORP 2015 SORP £’000 £’000

2015 SORP £’000

£’000

31 July 2015 Effect of transition to 2015 SORP £’000

0 120,192 0 49 0 0 120,241

0 30,295 3,800 0 0 0 34,095

0 150,487 3,800 49 0 0 154,336

0 117,918 0 74 0 0 117,992

0 31,412 3,800 0 0 0 35,212

0 149,330 3,800 74 0 0 153,204

(26)

0 1,318

0 0

0 1,318

131 0

0 0

131 0

17,748 0 58,756 77,822

0 2,473 (2,447) 26

17,748 2,473 56,309 77,848

20,888 0 62,819 83,838

(7) 5,737 (5,711) 19

20,881 5,737 57,108 83,857

(36,097)

2,415

(33,682)

(34,063)

(1,716)

(35,779)

41,725

(2,389)

39,336

49,775

(1,697)

48,078

161,992

31,680

193,672

167,793

33,489

201,282

(46,320)

(22,813)

(69,133)

(44,862)

(25,536)

(70,398)

(2,147) (73,300) 0 40,225

0 0 0 8,867

(2,147) (73,300) 0 49,092

(2,951) (87,450) 0 32,530

0 0 0 7,953

(2,951) (87,450) 0 40,483

25,040

(25,040)

28,228

(28,228)

3,800

c a,c

(21,451) 36,610 15,185 0 40,225

1 30,106 33,907 0 8,867

(21,450) 66,716 49,092 0 49,092

(30,141) 34,417 4,302 0 32,530

2,699 29,682 36,181 0 7,953

(27,442) 64,099 40,483 0 40,483

a b

Notes to the reconciliation of reserves Reconciliation of surplus/(deficit) for 2015 a) Revaluation of land and selected buildings b) Thornhill collection c) Deferred capital grants d) Endowments e) Debtors f) Cash/investments. Further details are shown on page 8 within the Operating and Financial Review

2015 SORP £’000

Staffordshire University. Financial Statements and Governors’ Report 2015/16

FINANCIAL STATEMENTS AND GOVERNORS’ REPORT 2015/16

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2016 31 Transition to FRS102 and the 2015 SORP CONSOLIDATED

Notes Income Tuition fees and education contracts Funding body grants Research grants and contracts Other income (adjusted to exclude income from joint ventures) Investment income

Total income before donations and endowments Donations and endowments

Total income Less: Share of income from joint ventures Net income

2007 SORP £’000

STRGL Items* £’000

Effect of transition to 2015 SORP £’000

84,570 17,293 1,266 13,413 453

0 0 0 0 0

0 0 0 1,339 0

84,570 17,293 1,266 14,752 453

116,995

1,339

118,334

116,995

1,397

118,392

116,995

1,397

118,392

64,499 0 35,730 3,008 9,548 2,413

0 0 0 0 0 0

429 0 (144) 0 (189) 2,317

64,928 0 35,586 3,008 9,359 4,730

115,198

2,413

117,611

0 0 0 0

(144) 0 0 0

1,797

(1,160)

637

2,334

(1,160)

637

2,334

(1,160)

637

0 (12,989)

0 0

0 2,317

0 (10,672)

(11,192)

1,157

(10,035)

2015 SORP £’000

Expenditure Staff costs Fundamental restructuring costs Other operating expenses Beaconside impairment Depreciation Interest and other finance costs

b f c d

Total expenditure Gain/(loss) on disposal of fixed assets Gain/(loss) on investments Share of operating surplus/(deficit) in joint venture Share of operating surplus/(deficit) in associate

Surplus before tax Taxation Surplus after tax Non controlling interest Surplus for the year Unrealised surplus on revaluation of land and buildings Actuarial (loss)/gain in respect of pension schemes Change in fair value of hedging financial instruments

Total comprehensive income for the year

* This column represents items that were previously recorded within the Statement of Total Recognised Gains and Losses (STRGL) and are now recorded within the statement of Comprehensive Income (SoCI). This column should not include recognition of valuation changes arising from the adoption of the 2015 SORP. These are included within the effect of transition to 2015 SORP column.

Notes to the reconciliation of surplus/(deficit) a) Non-Government Grant deferred capital release b) Holiday accrual c) Depreciation d) Pension adjustment e) Donations and endowments reported separately f) Loss on disposal of assets reported separately Further details are shown on page 8 within the Operating and Financial Review

staffs.ac.uk

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2016 31 Transition to FRS102 and the 2015 SORP UNIVERSITY

Notes Income Tuition fees and education contracts Funding body grants Research grants and contracts Other income (adjusted to exclude income from joint ventures) Investment income

Total income before donations and endowments Donations and endowments

2007 SORP £’000

STRGL Items* £’000

Effect of transition to 2015 SORP £’000

84,570 17,293 1,266

0 0 0

84,570 17,293 1,266

13,131 453

0 0

1,339 0

14,470 453

116,713

1,339

118,052

116,713

1,397

118,110

116,713

1,397

118,110

64,125 0 35,854 3,008 8,090 2,413

0 0 0 0 0 0

429 0 (144) 0 (189) 2,317

64,554 0 35,710 3,008 7,901 4,730

113,490

2,413

115,903

0 0 0 0

(144) 0 0 0

3,223

(1,160)

2,063

3,223

(1,160)

2,063

3,223

(1,160)

2,063

0 (12,989) 0

0 0 0

0 2,317 0

0 (10,672) 0

(9,766)

1,157

(8,609)

Total income Less: Share of income from joint ventures Net income

2015 SORP £’000

Expenditure Staff costs Fundamental restructuring costs Other operating expenses Beaconside impairment Depreciation Interest and other finance costs

b f c d

Total expenditure Gain/(loss) on disposal of fixed assets Gain/(loss) on investments Share of operating surplus/(deficit) in joint venture Share of operating surplus/(deficit) in associate

Total comprehensive income for the year * This column represents items that were previously recorded within the Statement of Total Recognised Gains and Losses (STRGL) and are now recorded within the statement of Comprehensive Income (SoCI). This column should not include recognition of valuation changes arising from the adoption of the 2015 SORP. These are included within the effect of transition to 2015 SORP column.

Notes to the reconciliation of surplus/(deficit) a) Non-Government Grant deferred capital release b) Holiday accrual c) Depreciation d) Pension adjustment e) Donations and endowments reported seperately f) Loss on disposal of assets reported seperately Further details are shown on page 8 within the Operating and Financial Review

Staffordshire University. Financial Statements and Governors’ Report 2015/16

FINANCIAL STATEMENTS AND GOVERNORSâ&#x20AC;&#x2122; REPORT 2015/16

staffs.ac.uk

Staffordshire University College Road University Quarter Stoke-on-Trent ST4 2DE M7604 9.16