The college received income totalling £20.4m during the 2013/14 academic year. Of these funds, approximately 60% was spent on wages & salaries, with a further 7% spent on outsourced teaching provision. Depreciation of assets accounted for around 9% of income. Administrative costs and premises running costs were each more than £1m for the year and together amounted to 12%. The remaining expenditure, mainly teaching consumables, catering and exam fees, totalled 9% of income. In addition to these figures, the college received £7.4m in capital grants and invested £13.3m in buildings and equipment in the year. Note: Overseas subsidiary company activity is excluded from these figures.