Page 159 - UniZulu Annual Report 2020

University income is significantly made up of State appropriations as well as tuition and other fees as these two items make up 88% (2019: 90%) of income.
REVENUE
There was a positive trend in recurrent income growth over the three years, with 2020 recurrent income decreasing by only 2%. Table 64 provides a breakdown of the R1 275 million recurrent income by income type.
Table 64: Recurrent Income
TOTAL RECURRENT INCOME (R’000)
2018
% MOVEMENT
2019
% MOVEMENT
2020
State appropriations – subsidies and grants
535 779
26%
673 175
2%
689 024
Tuition and other fee income
435 760
14%
495 306
-11%
438 739
Private gifts, grants and donations
24 872
-8%
22 773
11%
25 336
Other income
20 535
-25%
15 391
151%
38 585
Sale of goods and services
7 632
11%
8 451
125%
19 037
Investment income
60 481
37%
82 795
-22%
64 573
Total
1 085 059
20%
1 297 891
-2%
1 275 294
University income is significantly made up of State appropriations as well as tuition and other fee income as these two items make up 88% (2019: 90%) of income. The balance of the University’s current income comprises State appropriations 54% (2019: 52%); tuition and other fees 34% (2019: 38%); sales of goods and services 2% (2019: 2%); private gifts and donations 3% (2019: 1%); other income 1% (2019: 1%); and investment income 5% (2019: 6%). The slight decline in total income of the University is due to deferral of income due to the extended academic year. Tuition fees that would ordinarily be recognised in line with the financial year, has been deferred, to be in line with the academic year that was extended beyond the 2020 financial year.
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UNIVERSITY OF ZULULAND ANNUAL REPORT 2020