The University of St Andrews is working through a recovery plan to improve a multi-million pound deficit.
However, its financial challenges are nowhere near the scale of crisis-hit Dundee University, which has confirmed 600 jobs are at risk.
St Andrews principal Dame Sally Mapstone told staff in October the ancient institution is not considering redundancies.
But recruitment for some posts will be frozen.
Dame Sally, who reportedly earns more than £400,000 per year, pointed to a drop in the number of international post-graduate students.
The university has also mentioned significant cost increases, with no inflationary support from either the UK or Scottish Governments.
In its latest available accounts (2023-24) St Andrews reported a modest 0.3% growth in income, but with an underlying deficit of £13 million.
Here is a closer look at where St Andrews University gets its money and a breakdown of its £321.6m turnover.
Tuition fees – 49.3%
Money from tuition fees made up almost half of St Andrews University’s overall income in 2023-24, bringing in £157.8m.
That is a 5% increase on the £150.6m received the previous year.
The university said applications from high-quality overseas students remain high.
However, competition to attract those students is also very high.
St Andrews has 10,234 students, 45% of whom are from overseas.
Scottish students do not pay tuition fees but those from overseas and elsewhere in the UK contribute.
The financial report said: “The university’s strategy is to maintain excellent standards and reputation for world-leading, research-led teaching, whilst looking to diversify and grow its market through digital means.”
Funding body – 13.5%
In its 2023-24 accounts, the university showed it received £43.3m from funding body grants.
The main recurring teaching grant from the Scottish Funding Council remained “relatively static”.
The SFC is the government body responsible for higher education.
And it awards grants to universities in Scotland using public cash to fund Scottish students who pay no tuition fees.
The university said: “This static grant settlement represents a major constraint of the existing Scottish Government funding model.”
Research grants and contracts – 12.5%
St Andrews University received £40.1m in research grants and contracts, amounting to 12.5% of its income.
This marks a 12.5% drop compared to the £46.5m the previous year.
The reduction is largely due to the completion of significant grants in 2022-23, as well as a temporary fall in income from the EU government.
“Despite the dip, research activity shows positive momentum,” the university said.
Donations and endowments – 2.3%
More than £7m of donations made up 2.3% of St Andrews University’s income.
This is a fall of £1.3m on the previous year’s figure.
These payments tend to come from graduates of the institution who wish to support their alma mater by giving back financially, or money is left to the university in someone’s will, following their death.
Investments – 1.8%
Financial investments make up a small proportion of the university’s income.
In 2023-24, they brought in £5.8m, much the same as the previous year.
High interest rates generated returns on cash deposits throughout the year.
Other income – 20.7%
St Andrews University raked in £66.5m in miscellaneous “other” income.
This represents just over a fifth of its turnover.
It includes payment from students for accommodation in university-owned rooms.
Lower student numbers meant the university brought in £1.4m less than forecast.
However, this was offset by increases in summer accommodation, largely due to the Women’s Open Golf Championship being held in St Andrews.
Conversation