As a charity established by royal charter, the university submits its financial statements to OSCR rather than Companies House. The deadline for the accounts relating to the financial year ending 31 July 2023 was 30 April 2024. OSCR has confirmed the submission is now officially overdue, and this status is publicly visible on the regulator’s register, The Courier reports.

OSCR stated that while it has the power to ultimately remove an organisation’s charitable status for significant failures, it is currently engaging with the university regarding the delay. However, the regulator warned that missing submission deadlines can negatively impact a charity’s reputation and operations. This marks a departure for the university, which had filed its accounts on time for the previous five years.

A spokesperson for the University of Dundee confirmed it is continuing to work with auditors to finalise the 2023-24 accounts for publication.

This development occurs amidst significant financial challenges at the university. A previously leaked financial statement for 2023-24 indicated a £12 million deficit, and the former principal resigned last year after revealing a £30m budget shortfall and impending job losses.

The university presented a revised recovery plan this week aiming to reduce potential redundancies from 700 to 300 through a voluntary scheme.