The 2020 annual reports from (nearly all) NSW universities were tabled in state parliament Friday
Macquarie U: Consolidated group income was down 2.43 per cent, to $1.152bn “mainly driven by lower international teaching revenue.” Expenses were up 1.2 per cent to $1204m, “driven by employment expenses due to payments for voluntary redundancy schemes” (and depreciation and amortisation). Net result was a $50m loss up $42m in 2019.
Southern Cross U: Operating income fell from $316m in 2019 to $299m last year. Employment expenses were stable – $167m in 2020 up $1m the year prior. The overall result from consolidated continuing operations was a loss of $2.6m, compared to a $15m profit in 2019.
University of Newcastle: Operating income fell $16m to $794m and employee costs increased from $457m in 2019 to $472m in 2020. Overall the university’s consolidated result was a $7.5m surplus, compared to $25.6m in 2019.
UNE: 2020 income was up $7m, to $368m however outlays increased from $366m in 2019 to $385m in 2020. This appears to be largely driven by staff costs, presumably departures as part of a restructure. Employee expenses were $225m in 2019 and $239m last year.
UNSW: Revenue was $2.265bn, down from $2.456bn in ’19. Operating result was a $19m loss compared to a $38m profit in 2108. Staff costs increased from $1.326bn in ’19 to $1.340bn in 2020 – likely to have been driven by redundancies.
Uni Sydney: University management clearly acted on its early 2020 assumptions that it needed to make big savings fast. Employee costs for the year grew by $40m, driven in large part by funding staff departures, to $1.13bn. Overall operating revenue was down 3.5 per cent to $2.644bn.
UTS: Took a hit. Revenue was down ($39m) to $1.30bn and costs were up, $1.153bn in 2019 and $1.180bn last year. The net result was a $65m decline, from a $15m surplus in 2019 to a $50m loss in 2020. Most of this was due to employee costs – up from $674m in 2019 to $715, in ’20. And UTS is not optimistic. “The university has assessed its ability to continue operations due to decreased revenue from international students and has taken measures to limit the financial impact. Those measures include the obtaining of an additional $100m revolving debt facility and successfully implementing a voluntary separation program for staff which will reduce future employee benefit costs for the university.” There are more cuts to come, as recently announced in the Faculty of Arts and Social Sciences, (CMM April 30).
Uni Wollongong: Consolidated operating revenue was way down, from $854m in 2019 to $785m last year. Expenses were up $8m, to $829m – this appears largely due to staff costs increasing $17m. The report states $16m went to fund an early retirement scheme. The overall net result was a $48.8m loss, compared to a just under $27m profit in 2019
Western Sydney U: Word at WSU mid last year was that it would make it through ok-ish. And lo! it did. Income was down $13m, to $887m more than matched by savings, expenses were $887m in 2019 and $865m in 2020. But staff do not appear to have paid the price, with no sign of exit payments for wholesale departures – spending was $460 061m in 2019 and $460 703m last year. The net result last year was even a bit better, $21m up from $19m (correct) in 2019.
Charles Sturt U’s 2020 annual report was not tabled on Friday, nor is it on the university policy/annualreports website. Maybe the Bathurst mail coach is delayed.