UL warns over challenges despite €7m surplus

The University of Limerick warns that it is facing a challenge over the sustainability of its finances, despite recording a surplus of almost €7m in the year to the end of Sept 2017.

New accounts filed by the college show it recorded a surplus of €6.89m in the 12-month period — an annual increase of 5.3%. In a financial report, UL’s chief operating officer and registrar Gerry O’Brien said the university should be reporting an annual surplus of at least 3% of income to ensure its overall financial sustainability. Mr O’Brien said the surplus for the 2017 financial year was 2.7% of income.