QUT had a headline deficit of $134m in 2022, Vice Chancellor Margaret Sheil tells staff

The “underlying deficit” was $73.1 million.

Professor Sheil attributes the deficit to “continuing challenges … arising from a range of global and domestic economic factors.” She also points to “ongoing”  learning and teaching priorities and salary and allowance increases in the new enterprise agreements.

The new agreements includes close to a sector-best 14 per cent pay rise through to 2025 (CMM December 8 2022).

The VC warns financial projections for this year “are similarly challenging” and the university aims to increase revenue, and reduce expenditure, “where practical.”