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Early morning sun over Merton College
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Financial Statements of the Oxford Colleges (2014-15)

The financial statements of the 36 colleges of Oxford University for the year ending 31 July 2015 are available as pdfs, together with an aggregated statement of financial activity (SOFA) and aggregated consolidated balance sheet.

The colleges are independent, self-governing and financially autonomous and their accounts are published under the accounting convention developed by the Charity Commissions for use by charities in the UK (the Charity SORP).

Kellogg College and St Cross College do not have Royal Charters and, for accounting purposes, are departments of the University. As such, their financial results are consolidated into the University’s financial statements.


Incoming resources for the colleges amounted in aggregate to £432m, up 4.1% on the previous year. Resources expended amounted to £360m, an increase of 3.0%.

The colleges, through the tutorial system, undertake a substantial proportion of Oxford’s undergraduate teaching, as well as supporting graduate studies and research. The colleges also provide accommodation for about three-quarters of Oxford’s 19,700 full-time students, and catering services for all of them.

Teaching, research and residential income, which accounted for 43% of aggregate income in 2014/15, rose by 2.0% to £184m. However, teaching, research and residential expenditure rose by 3.0% to £301m indicating a subsidy by the colleges of £117m for the cost of these core activities.

Legacies and donations, towards both annual expenditure and endowment, (£111m) together with investment income (£100m) accounted for almost half of aggregate incoming resources.

Net income from trading, representing the colleges’ commercial activity with third parties, rose by 11% to £10.7m demonstrating the continuing effort made by colleges to diversify their sources of income. Net incoming resources after transfers from endowments, but before other gains and losses totalled £74m.

A year of strong investment performance saw the value of college endowments grow by 9% during the year to £3.87bn.

 All files are PDFs[pdf]

Aggregated statement and balance sheet.pdf
All Souls.pdfBalliol.pdfBrasenose.pdf
Christ Church.pdfCorpus Christi.pdfExeter.pdf
Green Templeton.pdfHarris Manchester.pdfHertford.pdf
Jesus.pdfKeble.pdfLady Margaret Hall.pdf
The Queen's College.pdfSt Anne's.pdfSt Antony's.pdf
St Catherine's.pdfSt Edmund Hall.pdfSt Hilda's.pdf
St Hugh's.pdfSt John's.pdfSt Peter's.pdf
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