Uni Melbourne in the hole for $100m

The university reports a $104m operating deficit for 2022 but it could have been worse, actually, the net deficit was

The result follows a 2021 net surplus of $584m – the university’s preferred measure, the underlying operating result, for ’21 was $147m, (CMM June 22 2022).

Uni Melbourne puts the ’22 loss down to increased pandemic assistance for students, “increased spending” incurred by the return to campus and the “cumulative effects of reduced student enrolments in previous years.”

A “smaller” deficit for ’23 is anticipated but the university remains “mindful” of “rising inflation and increases in the costs of non-discretionary items. Uni Melbourne is now negotiating a new enterprise agreement for staff.

The university statement also refers to a net deficit of $203m, which is the operating loss and “unrealised losses due to a downturn in financial markets.”

Vice Chancellor Duncan Maskell states “the most difficult days are behind us” and that the university, “will continue to invest in its core teaching, learning and research.”

At the start of the week Monash U reported a headline loss of $113m for 2022 (CMM March 27)