AN ANNUAL report at Aberystwyth University is “cause for optimism” as student number rise and the institution breaks even on its budget for the first time in almost a decade.

As the university celebrates its 150th anniversary, the financial accounts for 2021/22 released on Tuesday, 31 January, paint a rosier picture for the institution than in past years.

Excluding pension changes, the university reported a £0.2m surplus for the year - the first year where a deficit was not reported since 2013/14.

The university, which recorded a £3.2m deficit last year, said the surplus was an “important milestone” for the university’s plans as it recovers from the Covid-19 pandemic.

While student numbers at the university rose from the past year, the new cohorts joining the institution remain below historic levels, and the university’s annual report outlines that they also “fell short of targets.”

The university said that “further cost savings will be required in order to achieve an operational surplus” next year.

While tuition fee income rose with the uptick in students, staff salaries rose by just over £4m, the report shows.

The biggest jump in numbers came from international students, where income rose from £6.3m the previous year to more than £9m for 2021/22.

Pro Vice-Chancellor Elizabeth Treasure, who took on the role at Aberystwyth University five years ago, said “it is particularly rewarding to see the great strides that have been made to ensure that the university is financially sustainable.”

“I’m pleased that we have delivered the first operating surplus, excluding the

movement in pension schemes, since 2013/14,” Professor Treasure said.

“While the United Kingdom is facing some of the toughest economic headwinds since the 1970s, the budgets for forthcoming years are showing an improving position with growth in student numbers across our entire portfolio.”

The university said the results for the year “is giving the institution cause for optimism, while recognising the challenges posed by the wider economic outlook.”

In the report, the Chair of Aberystwyth University’s Council, Dr Emyr Roberts described the academic year as a time of great progress and said the 2022/23 academic year will be one of “renewed vigour and confidence”.

“While the past two years have presented unprecedented challenges, primarily because of Covid-19, in 2021/22 the university continued to respond admirably to the testing circumstances and at the same time make progress towards its strategic aims and strengthening its underlying financial position,” he said.