Oxford Brookes accounts show £12m deficit in 2017-18

Oxford Brookes University is the latest institution to post a loss, with an operating deficit of £12 million for the 2017-18 financial year, according to recently published accounts.

The institution’s financial statement for the year ended 31 July 2018 shows that total income for the year was just less than £200m, while expenditure was £211m. A loss of £623,000 on “disposal of fixed assets” took the university’s total deficit for the year to £12m, which equates to 6 per cent of its income.

The accounts show that “excluding one-off items, voluntary severance scheme and impairments”, the deficit reduces to £2.8m.