The University of Central Lancashire awarded its former chief executive Malcolm McVicar ?40,000 in salary and ?23,000 in performance-related pay in his final month in post, and lost another ?1.2 million on its Cyprus campus last year.

Dr McVicar¡¯s ?63,000 package is listed under August 2014 in the university¡¯s 2014-15 accounts.

A Uclan spokesman said the performance-related pay was ¡°based on the effectiveness of his performance in the year 2013-14¡±. The spokesman said the ?40,000 stated as salary ¡°comprises one month¡¯s salary at just under ?21,000 and an additional ?19,075 paid for consultancy services across the other 11 months of the financial year¡±.

Uclan¡¯s annual report and financial statements also reveal that its latest annual loss on its Cyprus campus built in the island¡¯s UN buffer zone, one of the overseas projects championed by Dr McVicar, came to ?1.2 million in 2014-15.

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That followed losses of ?1.4 million and ?1.7 million in the previous two years.

Additionally for 2014-15, there was an ¡°exceptional charge¡± of ?1.5 million relating to the overseas campuses. Uclan¡¯s spokesman said this was a ¡°prudent approach¡­relating primarily to the write-down of the value of land held in Cyprus¡±.

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The post of chief executive, beneath which was a vice-chancellor, ¡°is likely to be disestablished and the key elements of the role will be undertaken by the vice-chancellor¡±, the annual report says.

And Uclan¡¯s international strategy has ¡°changed away from the development of comprehensive overseas campuses¡±, the report says.

Plans for a Thailand campus were abandoned before building started, but the university wrote down ?3.2 million in previous separate accounts after a dispute with the joint venture partner, a Thai businessman.

Dr McVicar was vice-chancellor of Uclan between 1998 and 2013, before becoming chief executive as the institution adopted a new ¡°group structure¡±.

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After Dr McVicar¡¯s retirement, Richard Hext took over as chief executive on 1 September 2014, arriving from a career in shipping, and was paid a salary of ?229,000 in 2014-15. He stepped down on 30 September 2015.

Gerry Kelleher, who had served as vice-chancellor under the chief executive, stepped down in March 2015.

Mike Thomas, an ex-submariner and pro vice-chancellor at the University of Chester, is now leading Uclan as vice-chancellor.

Uclan¡¯s spokesman said its accounts ¡°show an institution in a very strong financial position, having successfully increased its operating surplus for the year to ?11 million, and with cash balances increased to ?109 million¡±.

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He continued on the Cyprus loss: ¡°Whilst this performance is slightly disappointing, it is broadly in line with projected financial performance that would see the campus become operationally profitable in 2018-19.¡±

He added: ¡°Dr McVicar is no longer an employee or consultant to the university.¡±

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john.morgan@tesglobal.com