2022 reports tabled in state parliament were set in circumstances similar to those of other states – revenue down after 2021’s not to be repeated COVID-emergency funding from the Feds, strong investments and one-off gains from the previously unis-owned IDP sale
Charles Sturt U: recorded a 2022 net deficit from continuing operations of $60m in calendar ’22 – compared to a net surplus of $143m in ’21. It attributes the ’22 result to factors ranging from the war in the Ukraine, through higher interest rates to, “the lack of a significant international cohort and a static domestic student cohort
Macquarie U: consolidated income was down $40m on ’21, to $1.46bn, while expenses increased $60m, for an overall loss of $36m.
Southern Cross U: consolidated income was all but unchanged year on year, at $281m, while expenses were up $25m, for a net loss of $6.7m; marginally better on ’21. The financial statements “tell(s) a story of the on-going after-effects of the Covid-19 pandemic and the impact of a changed and not wholly felicitous funding environment, Chancellor Sandra McPhee and VC Tyrone Carlin state.
Uni Newcastle: university (ex subsidiaries) income was nearly $100m down on ’21 – with expenses up, the net result was a $38m loss, compared to a $182m surplus the previous year. Chancellor Paul Jeans and VC Alex Zelinsky point to, “high inflation, rising interest rates and low unemployment. “ “The impact of these economic factors, volatile share market conditions, recovery from the COVID pandemic and rising costs placed stress on the university business model,” they write.
Uni New England: the consolidated net result for ’22 was an $18m loss, compared to $102m positive in 2021.
UNSW: revenue was down nearly $200m for a consolidated net loss after tax of $168m – a thumping $470m deterioration on the previous year (21: a $305m positive). However the result is better on the university’s preferred underlying results measure – a $118m loss in 2022 compared to a $61m surplus in ’21.
Uni Sydney: Presumably not wanting to appear boastful, Uni Sydney announced its headline financials weeks ago – a headline operating surplus of $298m (CMM May 12). Although Chancellor Belinda Hutchinson, does state in yesterday’s report, “despite ongoing headwinds, the university again finished the year in a remarkably good position.”
UTS: reports a ’22 operating loss of $53m, compared to a $121m surplus in ’21 – excluding the university IDP share sale the surplus for that year was $29m.
The university states it is “now experiencing a high inflation and supply-constrained environment, putting significant pressure on salary and operating costs,” plus there are still aftershocks of Covid. It anticipates operating losses this years and next, before a return to surplus in 2025.
Uni Wollongong: 2022 income was $767m, down 6 per cent on ’21 with a headline operating loss of $28m, compared to $8m. The 2022 actual result was worse than budget, due to increased leave liability, growth in recruitment and marketing, software and computer related expenses and “additional cost for early repayment of borrowings.”
Western Sydney U: took a hit on income from continuing operations (down $44m on ’21 to $871m) but contained expenses, which were largely unchanged, at $882m. The result was a $10m loss (down from a positive $143m in ‘21)