This report analyses The University of Cambridge’s finances, including its revenue, expenditure and gains/losses. While Cambridge’s revenues generally show an upwards trend, it is important to note that the costs related to its operations and staffing have also risen.

• As of the 2021/22 academic year, The University of Cambridge generated £2.22 billion in revenue.
• This made up 4.74% of university and higher education revenues in the UK as a whole.
• Total revenue at The University of Cambridge has increased by 1.92% since the £2.18 billion generated in 2020/21.
• £860.10 million was generated through examination, assessment and publishing services (38.76% of the total revenue).
• £551.80 million was generated through research grants and contracts (24.87% of the total revenue).
• In total, The University of Cambridge had expenses of £2.30 billion.
• This made up 4.52% of university and higher education expenses in the UK as a whole.
• £1.31 billion was spent on staff costs (56.72% of the overall spend).
• £1.04 billion was spent on other operating expenses (45.18% of the overall spend).
• From the given data, The University of Cambridge suffered a net operating asset loss of £82.30 million for the year.

Total University of Cambridge revenue

The primary sources of revenue for The University of Cambridge stem from examination, assessment and publishing services. Additionally, significant contributions to the university’s overall revenue are made through grants, tuition fees and research/education contracts.

• As of the 2021/22 academic year, The University of Cambridge generated £2.22 billion in revenue.
• Total revenue has increased by 1.92% since the £2.18 billion generated in 2020/21.
• £860.10 million was generated through examination, assessment and publishing services.
• Examination, assessment and publishing services made up 38.76% of the total revenue.
• £551.80 million was generated through research grants and contracts.
• Research grants and contracts made up 24.87% of the total revenue.
• £376.20 million was generated through tuition fees and education contracts.
• Tuition fees and contracts made up 16.96% of the total revenue.

Revenue type	2017/18	2018/19	2019/20	2020/21	2021/22	Change vs 2020/21
Tuition fees and education contracts	£295.10million	£320.20 million	£334.50 million	£339.50 million	£376.20 million	+10.81%
Funding body grants	£173.60 million	£181.90 million	£204.70 million	£212.90 million	£197.30 million	-7.33%
Research grants and contracts	£524.90 million	£592.40 million	£579.40 million	£588.60 million	£551.80 million	-6.25%
Examination, assessment and publishing services	£745.50 million	£812.50 million	£695.10 million	£759.30 million	£860.10 million	+13.28%
Donations and endowments	£63.80 million	£111.40million	£85.40 million	£112.60 million	£52.80 million	-53.11%
Other income	£142.10 million	£133.4 million	£154.20 million	£161.80 million	£167.00 million	+3.21%
Investment income	£19.80 million	£40.20 million	£21.60 million	£2.20 million	£13.60 million	+518.18%
Total	£1.96 billion	£2.19 billion	£2.07 billion	£2.18 billion	£2.22 billion	+1.92%

A graph is given below to show The University of Cambridge’s revenue by year:

Total University of Cambridge expenditure

As with trends observed across UK universities and higher education, Cambridge experienced significant increases in staff costs during 2018/19 and 2021/22. These escalating expenses had a notable impact on the university’s overall expenditure for these years.

• As of the 2021/22 academic year, The University of Cambridge had expenses of £2.30 billion.
• Total expenses have increased by 10.99% since the £2.07 billion spent in 2020/21.
• £1.31 billion was spent on staff costs.
• Staff costs amounted to 56.72% of the overall spend.
• £1.04 billion was spent on other operating expenses.
• Other operating expenses amounted to 45.18% of the overall spend.

Expense type	2017/18	2018/19	2019/20	2020/21	2021/22	Change vs 2020/21
Staff costs	£0.85 billion	£1.14 billion	£0.79 billion	£0.99 billion	£1.31 billion	+31.76%
Other operating expenses	£0.93 billion	£0.97 billion	£0.93 billion	£0.92 billion	£1.04 billion	+12.69%
Depreciation	£0.09 billion	£0.11 billion	£0.11 billion	£0.10 billion	£0.10 billion	-3.45%
Interest and other financial costs	£0.03 billion	£0.09 billion	£0.14 billion	£0.06 billion	-£0.14 billion*	-360.07%
Total	£1.91 billion	£2.31 billion	£1.97 billion	£2.07 billion	£2.30 billion	+10.99%

A graph is given below to show The University of Cambridge’s expenditure by year:

Total University of Cambridge net operating assets

• As of the 2021/22 academic year, The University of Cambridge suffered a net operating asset loss of £82.30 million.
• Increases in staff costs contributed greatly to annual losses during the academic years of 2018/19 and 2021/22.
• Highest net operating asset increases were made over the period during the 2019/20 academic year (£105.10 million).
• The University of Cambridge averaged annual net operating asset increases of £12.94 million during the period.

Academic year	Total net operating assets
2017/18	+£53.70 million
2018/19	-£115.50 million
2019/20	+£105.10 million
2020/21	+£103.70 million
2021/22	-£82.30 million

A graph is given below to show The University of Cambridge’s net operating assets by year:

Cambridge University revenue FAQ

Which Cambridge college is the richest?

• Recent data shows that Trinity College has the highest-valued total assets of all Cambridge colleges.
• In addition Trinity College has the highest valued financial endowment of Cambridge colleges.

Who funds Cambridge university?

• Funds for The University of Cambridge predominantly come from:
  • Examination, assessment and publishing services.
  • Research grants and contracts.
  • Tuition fees and education contracts.

Is Cambridge University government funded?

• As a public university, Cambridge receives public funding from the government.
• Despite this, The University of Cambridge’s colleges are entirely self-governing, which is commonplace within private institutions.
• Cambridge University would be considered a private institution if it took the decision to reject public funding.