Trinity College records €50.2m surplus as investment re-evaluation boosts bottom line
(TCD) has recorded a surplus of €50.2 million, its largest since the Covid pandemic, driven by gain of €36.7 million on its balance sheet after a re-evaluation of its investment portfolio.
Ireland's oldest university recorded a net operating surplus of €15.4 million, before accounting for its unrealised investment valuation change.
'The total surplus recorded this year, though positive, is largely a paper gain,' said Dr Linda Doyle, the provost. 'It relates to the once-off valuation of investment assets and such valuations can go down as well as up.'
Trinity's chief financial officer, Louise Ryan said the university's finances are 'finely balanced' and that 'the absence of a long-term sustainable funding model for the higher education sector needs to be resolved'.
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The university's consolidated income rose by €40.1 million to €543.3 million in the year to September 30th last, which was attributed to a 3.5 per cent increase in student numbers to 22,120, increased State funding, and donation and investment income. Research grants and contracts dropped slightly, from €125.9 million to €123.7 million.
Academic fees received by the university topped €200 million for the first time, jumping from €198.7 million to €209.5 million.
Broken down, 48 per cent of all academic fees came from non-EU students, despite that group accounting for only 21.2 per cent of the student population. Those students drove much of the increase in fee revenue.
Visitor income increased to €33 million from €28 million, despite a high-profile five-day blockade of the Book of Kells by Trinity College Dublin Students' Union and TCD BDS [Boycott Divestment Sanctions].
Income from its rental student accommodation also increased by €1 million to €22 million last year.
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The 9 per cent increase in the university's total income was largely balanced by a 7 per cent increase in total operating expenses, to €610.7 million. The increase was largely accounted for by a nearly €25 million increase in staff costs.
The university spent €61 million in capital investment on and off campus, its highest since 2020 when it spent €67 million, bringing its cumulative spend in that period to €258 million.
Despite a strong financial year, Trinity warned that 'inflationary pressures and wider global events continue to bring challenges' in the current year.
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