The Architectural Association made a loss in excess of £800,000 last year, its annual report has revealed. The cash-strapped school – which made nine redundancies this winter – posted net expenditure of £819,732 for the year ending 31 July 2017, according to accounts due to be filed at Companies House. This compared with a net income of £244,551 in the previous year. — architectsjournal.co.uk
The AA's annual report stated the "Expenditure increased in the year due to one-off costs in governance reform as part of preparation for the TDAP application, together with increased costs of compliance monitoring and property rentals at Bedford Square."
The report also states an income issue with student numbers not meeting their target resulting in a tuition fee income of around $22M for last year.
On a positive note the AA's gender pay gap report showed the school's median female staff salary way equal to its median male salary.
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