Value for Money Statement
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Introduction
AHUMI British University is committed to providing high-quality education that offers value for money to all our students. This statement outlines how we maximize the use of our financial resources to deliver outstanding education, enhance the student experience, and ensure the university's sustainability.
1. Sources of Income
AHUMI British University relies entirely on student fees as its sole source of funding. These fees are used to cover the day-to-day operational costs of delivering education and support services, as well as to develop our technological capabilities for online teaching.
2. Enhancing the Student Experience
Teaching and Learning: We use the latest technologies and teaching methods to deliver rich, interactive online content. We ensure that all our educational programs meet international quality standards.
Academic Support: We provide continuous academic support through a qualified team of professors and academic advisors who contribute to the development and enhancement of student skills.
Psychological and Social Support: We offer comprehensive psychological and social support services to help students overcome personal and academic challenges.
Student Success Initiatives: We invest in initiatives to enhance student success and widen participation, including enhanced tutorial support, welfare, coaching, library services, and redesign of course materials for a digitally-led future.
3. Financial Efficiency
Resource Management: We ensure efficient use of financial resources to maximize benefits for students. We follow strict financial policies to ensure transparency and accountability in all aspects of expenditure.
Investment in Technology: We continuously invest in technological infrastructure to provide innovative and effective educational services.
Operational Improvements: We continually improve administrative and educational processes to reduce costs and increase efficiency.
4. Transparency and Accountability
Information Disclosure: We publish annual financial reports that detail the use of financial resources and are verified by independent bodies.
Accountability: We undergo internal and external audits to ensure compliance with national and international financial and academic standards.
Student Feedback: We respond to student feedback through national surveys, student consultations, and Office for Students (OfS) Value for Money priorities regarding the quality of tuition.
5. Sustainability
Financial Sustainability: We strive for long-term financial sustainability by efficiently managing tuition fees to ensure continuous improvement of educational services and university development.
Social Responsibility: We are committed to our social responsibility by offering scholarships and financial support to students from diverse socio-economic backgrounds.
6. How We Govern Value for Money
Governance and Resource Management: The Board of Directors ensures there are sound arrangements for risk management, control, and governance, and for achieving economy, efficiency, and effectiveness. It regularly reviews the management of resources under its control.
Audit and Risk Committee: The committee receives assurances throughout the year that satisfactory arrangements are in place to promote economy, efficiency, and effectiveness. Its annual report includes its opinion on the arrangements for promoting economy, efficiency, and effectiveness.
Senior Management Team: Value for money is specifically part of their terms of reference.
Managers: They are responsible for reviewing and maintaining good practices in their areas of operation.
Internal Audit Function: Value for money is an integral part of its work, conducting specific reviews as required. The annual internal audit report includes an opinion on the university’s arrangements for securing value for money.
7. Where Does Our Money Go?
We prioritize our spending in the following areas to provide the best possible experience for our students:
Teaching and Learning: Enhancing and developing educational programs.
Student Support: Enhancing academic, psychological, and social support services.
Technological Infrastructure: Investing in technological capabilities to provide effective educational experiences.
For further information on AHUMI British University’s income and expenditure, please refer to our financial statements available on our website.
Conclusion
AHUMI British University is committed to providing value for money for its students by balancing the delivery of high-quality education with efficient resource management. We continually strive to improve our services and ensure the satisfaction of all stakeholders.
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