Buckets of money at big Sydney unis

The 2021 annual reports for three NSW public universities reveal big earnings

The University of Sydney had an operating surplus of $1.04bn last year. However the university states this figure includes “quarantined items that cannot be spent on day-to-day items.”

The “underlying margin” was $453m, up by $400m on 2020.

Operating revenue was $3.53bn up 35 per cent, expenses were 2 per cent down, to $2.48bn.

A major source in income growth was international student income, up $249m to $1.354bn.

UNSW reports total earnings of $2.52bn and expenses of $2.21bn. Reduced staff costs, down $143m, to $1.19bn, made a significant contribution to an after tax net result of $305m, up from a 2020 loss of $19.2m However after restricted earnings and “non-core” operating losses, the university’s underlying result was $61m, compared to a nearly $64m loss in 2020.

Total UTS income last year was $1.19bn, up from $1.13bn in 2020. Expenses were down nearly $100m, from $1.18bn to $1.08bn, including a near $80m drop in staff costs, to $634m.

The overall operating result was $122m, up from $43 in 2020. However UTS adds that the underlying surplus was $29m, with $93million related to the university’s investment in international student business Education Australia.

More uni results to tomorrow