Statement of Accounts 2020 / 21
Going Concern
Net cash generated from operating activities for 2020 / 21 was £ 14.1m , 8.2 % of turnover . Cash generation is an area that the University is continually looking to improve , and despite the issues that Covid-19 brought to the University this represented a significant increase in operational cash generation . This was facilitated by the Financial Sustainability Plan that the University has been implementing , together with a reduction of pay and non-pay expenditure to offset some of the lost oncampus income .
The amount of cash and cash equivalents on the balance sheet increased from £ 20.5m at 31 July 2020 to £ 26.1m at 31 July 2021 . This was generated through the improved operational cash generation , and control over net capital expenditure ( net of capital grant income ).
The University has fixed asset investments that are invested in liquid funds that could be available to the University at short notice if required . Additionally , the majority of the University ’ s external loan funding of £ 66.8m is long term in nature . Cash flow forecasts show that the University is still able to ensure it has sufficient liquidity over the short , medium and long term . At the date of signing these accounts , the University also has access to revolving credit facilities of £ 14m (£ 10m Nat West and £ 4m Barclays ) which can be used to support liquidity as and when required .
As with all other entities , the University has been financially and operationally impacted by Covid-19 . However , the plans that have already been implemented together with the Office for Student forecasts that were prepared earlier in the year and the updated 2021 / 22 budget provides the University Council with the confidence that the University has adequate resources to continue in operational existence for the foreseeable future and for at least 12 months from the date of signature of these financial statements .
Trade Union Representation time
The Trade Union ( Facility Time Publication Requirements ) Regulations 2017 came into force on 1 April 2017 . These regulations place a legislative requirement on relevant public sector employers to collate and publish , on an annual basis , a range of data on the amount and cost of facility time within their organisation . The regulations provide a framework for open and transparent monitoring and for demonstrating the effective use of taxpayer ’ s money . The data below covers the relevant period of 1 April 2020 to 31 March 2021 .
The development of our own renewable energy generation site , which includes both PV Panels and Wind Turbine energy generation
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