There were rumours last year Charles Sturt U was in financial strife – it wasn’t
CSU states income of $651.6m for 2021, up on $575m in 2020. Expenses were down, $560.8m in 2020 and $507.9 in 2021.
All up the ‘21 net result was a thumping $130m better, (’20: $14.87m, ’21: $143.7m).
Staff cuts accounted for $24m in savings, with FTE down a little over 10 per cent from 2019, to 1893.
The result is largely due to a $100m lift in investment income, to $122m, $83m of which is a one-off resulting from the university, as with many others, selling out of international education services company IDP.
Southern Cross U declares its $10.6m operating profit on $274.3m in revenue for 2021, “an excellent result,” “in the context of the health, economic, and organisational risk posed”
Income was down by $18m, driven by a decline in international education earnings, “fees and charges” to $64m. Staff costs were $24m lower, presumably due to 2020 cuts.
Uni New England had a strong ’21
Income was up, 2020: $368.8m, 2021: $459.6m and expenses were down, 2020: $385m, 2021: $356.9m. The $102m net result was way better than the $16m loss in 2020. Lower staff costs $196m, down from $239m and a $78m rise in investment income helped. As with many other universities, this appears due to Uni New England selling a share of the IDP education business.
Other NSW uni results were in CMM for Monday and yesterday