This finding forms part of a report on the financial performance of the HEFCE-funded sector published today by HEFCE [Note 1]. Other findings include:
- Overall, the sector reported growth in income, from £29.1 billion in 2015-16 to £29.9 billion in 2016-17. However, cost increases caused surpluses to fall from £1.5 billion in 2015-16 to £1.1 billion in 2016-17 [Note 2].
- Cash flow from the sector’s operating activities amounted to 10 per cent of total income in 2016-17, a similar level to the previous year.
- At the end of 2016-17 the sectorhad net liquidity of £10.4 billion (equivalent to 140…