Funding to run the OU comes from several sources—the largest of which is tuition fees from UK and international students.
In common with all UK Universities, The Open University financial year runs from 1 August to the following 31 July. A summary of income appears below along with a brief narrative to explain each line. For more detailed information please refer to the annual Financial Statements, published in December every year and available at the Freedom of Information website.
Funding Body Grants
This line comprises grants received from all funding bodies. The Open University is unique amongst UK universities in operating across the whole of the UK and so is funded for its teaching activities by all the national higher education funding bodies. In respect of its research activities, it is funded by the Higher Education Funding Council for England (HEFCE) and not by any of the other national funding bodies.
This line includes tuition fees received in respect of OU modules and programmes, directly from students or sponsors, and from the Student Loans Company and Open University Student Budget Accounts Limited (OUSBA). OUSBA provides credit facilities to OU students to allow them to pay tuition fees in instalments.
Research Grants and Contracts
These arise from competitive bids for funding from a range of public and private funders.
This comes from a wide variety of sources, including grants from the European Union and charitable bodies.
All income in respect of interest received from bank deposits and other investments are included here.
Donations and Endowments
This includes all donations and endowments receivable in the year.
|Funding body grants||123.1||25.9%|
|Research grants and contracts||15.3||3.2%|
|Donations and Endowments||2.7||0.6%|
The figures listed in this table reflect the income receieved within year ended 31 July 2016.