The University’s total funding package for 2009/10 is £62.6 million, a rise of nearly 9% (the national average rise is 4%). This comprises £18.4 million for research and £44.2 million for teaching.
World class research earns major funding boost
The University of Exeter has seen one of the biggest rises in the country in its annual government grant for research and teaching.
The University’s total funding package for 2009/10 is £62.6 million, a rise of nearly 9% (the national average rise is 4%). This comprises £18.4 million for research and £44.2 million for teaching.
The most significant element of the grant rise is in research funding, which has increased by 26% - the third largest increase amongst leading UK universities. The increase is the reward for improvements in research quality and quantity: every subject area at the University now includes world class research.
The Vice-Chancellor, Professor Steve Smith, said: ‘This is a stunning result and reflects the huge amount of hard work put in by the University’s 2,900 staff. We now have real strength in depth in research. Over the last few years Exeter has moved from being a small university with some areas of strength into a major player in national and international research. We are continuing to build on this position and are currently advertising for 29 new research and teaching posts in sciences and 180 PhD studentships and bursaries.’
The research funding element of the grant award is determined by universities’ performance in the Research Assessment Exercise, the results of which were announced just before Christmas. Research outputs are given a grade ranging from 1* to 4*. Funding is apportioned according to how much research falls into each grade (4* being the highest). At Exeter 90% of research was rated in the top three grades and 95% of staff were submitted (one of the highest returns in the sector). It is this combination of quality and quantity which resulted in Exeter’s success.
The University is also achieving success in a number of other areas. It is fourth in the country for student satisfaction, according to the National Student Survey, and has recorded one of the largest increases in applications (up 18% this year). The University has also embarked on an investment programme worth over £250 million over the next 3-4 years and £450 million by the end of the next decade.
The University is both publicly and privately funded. The £62.6 million grant is awarded by the Higher Education Funding Council for England and is an important part of the University’s predicted turnover next year of £217 million. Other funding comes from tuition fees, accommodation and conference income, research grants and contracts and philanthropic donations.
Notes for News Editors: For further information contact Stuart Franklin on 01392 263146 / 077899 42505.
Date: 5 March 2009
