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<div class="journal-content-article" data-analytics-asset-id="8866690" data-analytics-asset-title="UEA Financial Sustainability" data-analytics-asset-type="web-content">
<p>Work is under way to secure UEA&rsquo;s future financial stability.</p>
<p>UEA announced earlier this year that it is facing a budget deficit of &pound;30m for 2023/24, rising to &pound;45m in three years&rsquo; time.</p>
<p>There are a number of reasons for this current situation:&nbsp;</p>
<ul>
<li>Lower-than-expected student numbers. Numbers for this academic year (2022/2023) are significantly lower than we had planned. This is on top of a cumulative reduction throughout the Covid years against our approved targets.</li>
<li>As a result we have set revised student targets for future years &ndash; which in turn means less fee income in our plan.&nbsp;</li>
<li>The number of students not completing is higher than previous years (in common with others in the sector) which also affects ongoing fee income.</li>
<li>Our energy costs have risen by circa &pound;5m in the last year and are anticipated to remain at this level for three years, while energy markets stabilise.</li>
</ul>
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Work is under way to secure UEA’s future financial stability. UEA announced earlier this year that it is facing a budget deficit of £30m for 2023/24, rising to £45m in three years’ time.

UEA financial sustainability