Oxford colleges braced for the cuts

University 22 Feb 11 The provision by colleges of subsidised housing and meals to such a high proportion of their members means that the cost of living for an Oxford student is among the lowest in the country. Oxford University's 36 independent colleges have published their financial statements for the year ended 31 July 2010. Overall, the colleges report a small surplus at the operating level and recorded an 11.5% growth in the value of their endowments. Total college income was £289m and costs amounted to £286.5m, resulting in an operating surplus of £2.5m. Of the income, £74m came from tuition fees and government grants to fund teaching and research, and £56m from board and lodging charges to students. Income from core activities (£130m) covered less than half of the colleges' costs. More than half of the income (£159m) came from sources that the colleges have developed to support their core activities: in particular, endowment income (£94m), conference and other trading revenues (£27m) and donations (£20m).