The bill for Sunday's May Day madness in which 40 people were injured - and 12 needed hospital treatment - will be more than £40,000.

A bridge jumper emerges unscathed from the water on May Day

An investigation will seek to establish how a large security presence failed to deter more than 100 revellers from leaping off Magdalen Bridge.

Students who witnessed events have criticised security measures as "woefully inadequate".

But it has emerged that Oxford City Council paid £6,000 to employ 30 private security staff to "verbally warn members of the public and block their path if necessary".

More than 30 police officers, backed by support staff, were present along with a city council events team and 16 ambulance staff.

The John Radcliffe Hospital, in Oxford, put the cost of surgical treatment related to the event in excess of £37,000.

Student groups insisted that the role of council-paid stewards was central to unsuccessful attempts to retain control, as revellers continued to leap from the bridge into shallow water.

JR staff treated people for broken legs, cuts and bruises following the celebrations.

David Kyffin, the Oxfordshire County Council member for Oxford Central, called for the introduction of fines for jumpers. But Oxford University newspaper the Oxford Student criticised security company R&R Frontline, based in Cornmarket Street, claiming stewards should have done more.

A meeting - to be held within the next fortnight between the city and county councils, Oxford's two universities and emergency services - will seek to learn lessons from Sunday.

City council spokesman Nick Spence said discussion would centre on whether to close the bridge next year or introduce tighter controls.

The council stated that it was satisfied with the work of R&R Frontline. R&R Frontline received a detailed legal briefing stating that stewards were expected to "verbally warn and block the path of any persons attempting to get through and around the safety fencing." But it warned stewards not to go beyond that, by physically taking hold of any person.

Mark Blandford-Baker, home bursar for Magdalen College, said: "Those jumping in the Cherwell were fully aware how shallow it was. Some came determined to jump."

Insp Justin Archer, of Thames Valley Police, said measures were put in place to stop people hurting themselves, but ultimately it was the individual's responsibility.

Louise Slator, president of Oxford Brookes University Student Union, said: "Security provision this year was worse than last year and it is no surprise that people were incited by the crowd to jump when the efforts made to discourage them were woefully inadequate."