PEM Cambridge Colleges Benchmark Report 2025

Welcome to our fifth edition of PEM’s survey of the Operating and Financial Reviews (OFR) of the Cambridge Colleges.

The purpose of this report is to review the OFR of all 31 Cambridge Colleges for the year 2023/24 to provide insight as to where improvements to the reports can be made ahead of the 2024/25 reporting season.

In the report, we compare this year’s findings to the previous three years of reporting, to enable any trends to be identified across the Colleges.