Trinity collected a record €503.4m in revenue during the 2022/2023 year, according to recently released financial statements seen by Trinity News.
The financial statements, which were published over the summer, show that College recorded a surplus of €3.9m for the year, recovering from the previous year’s deficit of €200,000. This, however, pales in comparison to 2020/21’s surplus of €20.7m, aided by pandemic cost-cutting.
The 12% boost in revenue marks a €52.7m increase on 2021/2022 and an increase just short of €100 million from 2020/2021.
This is the third consecutive year in which revenues rose and the first in which revenue topped €500 million.
Operating costs also increased for a third year in a row, totalling €475.9m, up €38.7m from the previous year, roughly a third of which were listed as staff costs.
College received €70.1 million in state grants for the year, an increase of €13 million from the previous academic year. This marked the most significant rise in revenue along with academic fees which increased by €12.9 million.
Donation and endowment revenue also rose by €5 million since last, however the total of €23.9 million marks a decrease of €7.4 million from the 2020/2021 academic year.
Chief Financial Officer Louise Ryan wrote in the report that while “post pandemic recovery and growth are clear”, major challenges remain in securing the funding “required for a globally competitive university”.
She added that “inflationary pressures and wider global events” represent new challenges which are expected to continue “through 2024 and beyond” and that college will continue to manage its resources “prudently” and “invest strategically” in infrastructure.
“We are committed to improving the financial position of the university while remaining completely focused on the university’s mission to deliver a quality student experience, quality teaching and quality research”, she concluded.
