Finance and funding

The key financial objectives of the University are to provide the long-term resources to strengthen and further its pre-eminent position – nationally and internationally – as a place of outstanding learning, teaching, and research; and to enable it to provide additional support to its three core priorities of students, academic posts, and buildings.

Download the Financial Statements 2022-23 (PDF) - the Financial Review 2022/23 can be found on pages 28-34.

Education

	% change 2021/22 to 2022/23		% change 2021/22 to 2022/23
13,320 Postgraduate students	-0.9%	Gold rating in Teaching Excellence Framework	-
12,685 Undergraduate students	0.8%	21.2% of undergraduates admitted during 2023 UCAS cycle are from the most disadvantaged backgrounds¹	-1.7%
1 ACORN categories 4 and 5, POLAR4 quintile 1 and Free School Meals.

Research

	% change 2021/22 to 2022/23		% change 2021/22 to 2022/23
£789.0m Research income	10.9%	1st in the Times Higher Education World University Rankings (8th time running)	-
£147.2m Research income from industry	25.5%	7,307 Research-related agreements executed	15.6%

Educational Publishing (undertaken by the Press)

	% change 2021/22 to 2022/23		% change 2021/22 to 2022/23
£753.0m Educational publishing income	1.3%	£87.5m Operating profit	-25%
230 million visits to journal articles published by OUP	3.1%	84 Major publishing awards won	-

Engagement and Partnership

	% change 2021/22 to 2022/23		% change 2021/22 to 2022/23
More than 1,486 participants in the 8-month UNIQ 2023 programme	n/a	1,568 Students from low-income backgrounds supported by Crankstart scholarships	17.2%
171 participants in our Opportunity Oxford bridging programme	-9.5%	180 Active spinout companies	5.3%

Financial Measures

Income
£2,924.7m

Adjusted surplus

before other gains and one-off exceptional items

£117.3m*

Adjusted surplus chart showing £117.3m for 2022/23

* a detailed calculation of the Adjusted surplus before gains and other one-off exceptional items is shown on page 28 of the printed report

Net Assets
£5,385.0m

Capital Expenditure on Property, plant and equipment
£153.2m

Colleges

The colleges of Oxford University (apart from Kellogg, St Cross and Reuben) are financially autonomous. In 2021–22, the aggregate annual incoming resources (including donations for capital projects or endowment) of these 36 colleges amounted to £587m. The three main sources of income are teaching, research and residential (39% of the aggregate income), legacies and donations (20%), and investment income (31%).

Other income derives mostly from trading activity such as vacation conferences.

Total resources expended amounted to about £630m in 2021/22; 81% of this expenditure was directly attributed to core activities, including teaching, research and residential services. The balance is split between the costs of fundraising, running trading activities such as conferences and tourism, and investment management costs.

Endowments

The University has endowment assets of £1.7bn. Individual colleges have their own endowment assets, which amount to £6.4 bn.

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