b'Financial Services Division2022 2023There was a demonstrable recovery in commercial and other revenues this year,with significant growth and a surplus achieved, however inflationary pressurescombined with global events and ongoing funding challenges impacted theUniversitys overall financial performance. In this context, with strong levels ofdemand from both domestic and international students, an extensive capitalprogramme already underway, along with a significant requirement for strategicinfrastructural investment to ensure compliance with emergent sustainability requirements, the Universitys overarching objective of achievingfinancial sustainability remains challenging. It is clear that in addition to theUniversitys own strategies to increase revenues and carefully manage itsfinances, State funding will be critical in supporting the Universitys academicmission and its current and future strategic objectives. The GovernmentsFunding the Future Initiative provides positive news in this regard and FSD willwork closely across the Sector to ensure Trinity maximises its access to this andother potential sources of funding over the coming year.While we undergo a period of leadership change, FSDs overarching objectivesremain, and the strengthening of our role as a strategic partner in Trinitysplanning and decision-making processes will continue to be a core focus. In thiscontext, our key targets, and actions for 2023/24 (as set out on page 23 of thisreport) provide a clear roadmap for the year ahead as we continue to work inpartnership with senior College Oicers and our colleagues across the Universityin developing the Universitys new Strategic Plan (2025-30) to ensure Trinity iswell placed to meet the opportunities and challenges arising.03 04'