16.2.7 Publish financial data
Srinakharinwirot University (SWU) publishes its audited financial statements each year as part of its commitment to transparency, accountability, and sound financial governance. As a public university, SWU prepares its financial statements in accordance with the Government Accounting Standards and the government accounting policies prescribed by Thailand's Ministry of Finance. The statements are audited by an independent licensed auditor and reported to the University Council. This public disclosure enables students, staff, government, and the wider public to assess the university's financial probity and long-term financial viability.
Audited Financial Statements for FY2025
SWU’s Financial Report for the year ended September 30, 2025 (FY2025) comprises the statement of financial position, the statement of financial performance, the statement of changes in net assets/equity, and the notes to the financial statements, including a summary of significant accounting policies. The statements were audited by Thirty-Four Audit Office Co., Ltd., whose licensed auditor (Registration No. 6356) issued the independent auditor's report to the Srinakharinwirot University Council on January 20, 2026.
The auditor expressed an unqualified opinion, concluding that the financial statements present fairly, in all material respects, the financial position of the university as of September 30, 2025, and its financial performance for the year then ended, in accordance with the Government Accounting Standards and the government accounting policies prescribed by the Ministry of Finance. The comparative FY2024 statements were audited by another auditor, who also issued an unqualified opinion in a report dated May 6, 2025. The FY2025 statements are signed by the President of the University and the Director of the Finance Division.
Independent auditor's report to the Srinakharinwirot University Council, FY2025 (unqualified opinion; in Thai)
Table shows Summary Statement of Financial Position as of September 30 (THB million)
Item | FY2025 | FY2024 (restated) |
|---|
Current assets | 9,106.70 | 8,475.17 |
Non-current assets | 16,101.04 | 15,410.77 |
Total assets | 25,207.74 | 23,885.94 |
Current liabilities | 2,087.38 | 2,184.89 |
Non-current liabilities | 4,969.02 | 4,203.27 |
Total liabilities | 7,056.40 | 6,388.16 |
Net assets/equity | 18,151.34 | 17,497.78 |
Total liabilities and net assets/equity | 25,207.74 | 23,885.94 |
Source: SWU Financial Report for the year ended September 30, 2025 (audited). FY2024 figures are restated as presented in the audited report.
Table shows Summary Statement of Financial Performance for the Year Ended September 30 (THB million)
Item | FY2025 | FY2024 (restated) |
|---|
Revenue |
|
|
Revenue from budget appropriations | 846.62 | 862.65 |
Revenue from the sale of goods and services | 6,360.10 | 5,558.85 |
Subsidies from government agencies | 4,196.71 | 4,033.06 |
Other subsidies and donations | 235.94 | 333.29 |
Other revenue | 190.69 | 198.84 |
Total revenue | 11,830.06 | 10,986.68 |
Expenses |
|
|
Personnel expenses | 3,121.26 | 3,015.51 |
Pensions and gratuities | 1,044.78 | 972.93 |
Remuneration | 923.17 | 873.83 |
Operating expenses | 2,301.80 | 1,867.46 |
Materials | 519.40 | 487.51 |
Utilities | 326.96 | 343.41 |
Cost of goods and services sold | 1,298.40 | 1,232.01 |
Depreciation and amortization | 1,290.84 | 1,238.98 |
Other expenses | 16.40 | (63.18) |
Total expenses | 10,843.01 | 9,968.46 |
Surplus of revenue over expenses | 987.05 | 1,018.22 |
Source: SWU Financial Report for the year ended September 30, 2025 (audited). FY2024 figures are restated as presented in the audited report.
Financial Probity and Viability
These figures point to a financially sound and viable institution. In FY2025, total revenue rose by 7.7% to THB 11,830.06 million, and the university recorded a surplus of THB 987.05 million, or 8.3% of revenue. Total assets reached THB 25,207.74 million, while liabilities accounted for only 28.0% of total assets. With current assets of THB 9,106.70 million against current liabilities of THB 2,087.38 million, the university's current ratio stood at 4.4, indicating strong liquidity. Net assets grew by 3.7% to THB 18,151.34 million.
SWU's revenue base is also diversified. Revenue from the sale of goods and services accounted for 53.8% of total revenue, while government budget appropriations and subsidies from government agencies together accounted for 42.6%, with the remainder coming from donations, other subsidies, and other revenue.
Audited statement of financial position as of September 30, 2025 (in Thai)
Audited statement of financial performance for the year ended September 30, 2025 (in Thai)
The full audited Financial Report is published on the university website. Budget information is also disclosed in the SWU Annual Report, which presents the university's budget allocation by funding source and program. Together, these publications provide open and comparable information on how the university obtains and uses its resources.
Evidence: SWU Financial Report for the year ended September 30, 2025 (audited)
Evidence: SWU Annual Report 2025 (budget FY2025)