Income and expenditure budgets for financial year 2021-22
As part of the Office for Students’ (OfS’s) commitment to openness regarding its operations, this is a summary of the budget for our income and expenditure for the current financial year.
The income budget to fund the OfS’s running costs for the financial year 2021-22 is £30.9 million. This is primarily funded by registration fees from providers (see Figure 1 below). Government grants are received to fund fee discounts and the administration costs of discrete areas such as the Teaching Excellence and Student Outcomes Framework (TEF) and monitoring of the Prevent duty.
Figure 1: OfS income budget 2021-22
The OfS’s budgeted running costs for financial year 2021-22 are £30.9 million. Most of the OfS’s running costs relate to staff. Other significant spending areas include IT and premises (see Figure 2 below).
Figure 2: OfS running costs budget 2021-22
Programme funding and expenditure
The DfE provides the OfS with grant funding for programmes to support the higher education sector. Find out how we allocate funding to specific activities and providers.
The OfS expects to distribute £1,453 million in the financial year 2021-22. Most of this is in the form of recurrent teaching grants paid directly to providers (see Figure 3 below).
Figure 3: Programme spend budget 2021-22