Plans & Prospects 2023

Financial report
“This has been an incredible
and challenging programme
of work for the College”
Credit: John Cairns
having fallen by around 4% over the
last 12 months, the College’s buying
power has been reduced, especially
when set against inflation of 10%,
but with very careful budget and cost
management we achieved a small
surplus at the end of the last year: that
small surplus was committed to the
extensive decarbonisation programme
as per Wolfson’s five-year plan. The
decarbonisation programme is almost
complete, with the whole of the main
site now zero carbon emitting, with
no fossil fuel heating. Our houses in
Garford, Linton and Chadlington Roads
are also almost fossil fuel heating free,
with the last few properties being
insulated and having heat pumps installed
this summer. This has been an incredible
and challenging programme of work for
the College, and so many people have
told me how proud they are to be a
member of a college so committed to
being truly zero carbon at a time when it
is most needed.
Having reached net zero this year
and having completed the current
programme of decarbonisation works,
we are now looking for funding for the
next stage, which will be to increase the
number of photovoltaic panels on our
flat roofs, so we can generate more of
our own electricity locally. We also need
to put more insulation in place in the
remaining uninsulated parts of Wolfson’s
estate and want to buy a large storage
battery so that we can draw down
electricity from when it is available in its
greenest form and store it for later use.
There is also work underway in College
amongst staff, fellows and students
to reduce our own individual carbon
footprints wherever we can.
We are currently offsetting those
residual individual carbon footprints,
as well as the carbon footprints of
our operations, by reinvesting in green
initiatives at the College.
Other, smaller projects completed
across College include the refurbishment
of the Private Dining Room through
the kindness of a donor (now renamed
the Levett Room), and the purchase
of an electric minibus (again through
the kindness of a donor), which is due
to arrive in September and will ensure
carbon free travel for our members
between the College and town.
So, despite all of the challenges, there is
much to be pleased about in terms of
the progress being made. The day-today
running of the College continues
to be blessed by an amazing team of
managers and staff who look after us all
so very well. Our Head Chef, Michael
Godfrey, an award winning international
executive chef, and his team, including
Sofia Miron Sardiello, recently promoted
to be the new College Steward,
continue to produce the most dazzling
catering experience, and an environment
in which the academic magic continues
to happen.
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