Sustainability Implementation Plan
28 February 2020
Aberystwyth University has achieved its planned underlying operating position for 2018/2019 and is now in a position to formally close its Sustainability Implementation Plan.
The Sustainability Implementation Plan (SIP), approved by the University’s Council in April 2017 was designed to ensure the University’s financial health for the future.
It outlined the need to make recurring savings of £11.4m over two years and since then, departments have taken steps to reduce spending in order to improve the efficiency, effectiveness and financial sustainability of the University.
While Aberystwyth University continues to face sector-wide challenges in an increasingly complex and competitive environment, it has met targets set out within SIP and has now formally closed that process.
Its focus remains on ensuring the financial sustainability and effective working of the University on an ongoing basis. However future restructuring will take place on a more occasional basis, as circumstances arise.
Aberystwyth University’s Vice Chancellor, Professor Elizabeth Treasure thanked staff, students and the whole community for its support as efforts continue to ensure financial stability.
“We fully appreciate the impact that has been on colleagues in order to achieve these savings and I would like to thank them for their professionalism, loyalty and dedication during what has been a difficult period.
“The higher education sector as a whole finds itself in a challenging environment but by delivering the SIP, the University has made great strides towards securing Aberystwyth’s long-term sustainability and made it more robust and resilient to face the future.”
The University’s Financial Statements for the Year Ending 31 July 2019 report, published in January 2020 demonstrates the financial progress the University has made to rebalance its cost base and it expects to move into a small surplus in the current financial year.