Charles Darwin U in deficit

The Northern Territory Auditor reports CDU incurred a $21.4m deficit last year on $258m revenue

The loss was up $7m on 2017, due in part to reduced revenue and expense increases. While three university-owned colleges in Cairns and one in Adelaide also made losses, the overall CDU group loss was marginally less than the university, ($19.1m, down from $19.6m).

Commonwealth grants and student fee income were down marginally as were staff expenses, but the university continued to rely on “financial assistance” from the territory government, $59m last year, ($60m) in 2017, largely for VET.

The NTG announced Friday a one-off $7m additional contribution to the university to support vocational education.


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