Despite the pandemic and international uncertainties the vice chancellor is “optimistic about our longer-term finances”

Last year’s “painful but essential” staff cuts and reductions in other spending, “have ensured financial stability for 2021” UNSW VC Ian Jacobs told staff yesterday.

“The proactive steps we all took in 2020 enable me to give you reassurance and confidence about our current circumstances. …I am confident that we will not need to make any additional major changes to expenditure or staffing levels this year, he added.

The vice chancellor reported a 2020 deficit of $19m, ahead of the planned $32m. Last year UNSW reported it had covered 80 per cent of the then expected $370m 2021 shortfall by making $180m in savings and using $115m in reserves. A voluntary redundancy programme cut a further $36m and 256 FTE positions were abolished (CMM September 16). Standard and Poors reports UNSW also raised $250m last year “to shore up liquidity (CMM April 28)

Professor Jacobs, message expands on a previous reassurance (CMM April 28) but his state of the university approach appears intended as a circuit breaker from last year’s pain. “Despite pandemic uncertainty and international uncertainties,” the vice chancellor is “optimistic about our longer term finances” and he points to positives including,

* term one enrolments above “load plan” with “strong local commencements” and international students off-shore, “staying with us on-line”

* research wins and strong fundraising

* expanding on-line PG courses

* a “flexible working strategy”

* plans for businesses and “staff and student spin-outs” on campus.

Professor Jacobs also said he is “hopeful of an announcement in the very near future” on “steps to allow our international students to travel to Australia as soon as possible.”