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Financial statements

London South Bank University (LSBU) considers financial sustainability, particularly in the current climate of uncertainty and change, as absolutely fundamental to delivering its mission of supporting students to achieve professional success.

For this reason, we are implementing an ongoing efficiency programme which has already delivered substantial savings in excess of £6m. We have also developed plans to deliver a prudent sustainable annual operating surplus, which will enable us to manage uncertainty as we invest for the future and continue to strengthen the quality of support given to students.

Key examples of current investment include completion of a new Student Centre and associated enhancement of services, which will be ready in September 2012. Our Enterprise Centre, completing in 2013, will further strengthen links with business and the community and create additional opportunities for students to develop their own careers.

Our 2009/10Financial Accounts demonstrate our strong position in terms of annual financial performance (with an annual operating surplus of £6.3m), balance sheet, reserves and liquidity. This, together with our plans for the future gives us confidence that we will be able to continue to deliver quality education (rated in the highest category by the independent quality Assurance Agency in 2010) through the coming years of change in Higher Education.

Financial Accounts

Fully complying with HEFCE requirements, below are copies of the University's annual Financial Statements, dating back to the 2009/10 academic period. The document is a review of our financial year and includes:

Balance Sheets
Consolidated income and expenditure account
Independent Auditor's report

Download - Report and accounts for the year end 31 July 2012 (PDF 7.53MB - opens in new window)
Download - Report and accounts for the year end 31 July 2011 (PDF 20.2MB - opens in new window)
Download - Report and accounts for the year end 31 July 2010 (PDF 4.10MB - opens in new window)

Executive expenses

LSBU reimburses the travel and subsistence expenses incurred by the Vice Chancellor on LSBU business.

LSBU's Financial Regulations set out the guidelines for expenses claims.

The Vice Chancellor's expense reports will be published periodically.

Further information

Decision making structure