Vic uni finances: they’re still standing

Monash U announced a $302m surplus on Monday (CMM yesterday)– it is way the best result for the state’s public universities, as revealed in annual reports tabled in state parliament yesterday

Deakin U had a $79.6m post tax consolidated result in 2021, up from $17m in 2020, largely based on a $50m increase in income and $20m in operational savings. Employee expenses were up $9m, presumably due in part to a 180 person (not FTE) reduction on the end 2020 figure. This appears a solid result given the university reports a year on year 2 per cent decline in international students.

 La Trobe U had a better 2021 than 2020:  Revenue last year was down nearly $50m, to $738m but an $80m saving reduced the operating loss from $51m in 2020 to $19.5m last year. Half the saving came from reduced employee expenses. The big hit was a $54m drop in fee and charge income, all up international student revenue was 17 per cent of underlying revenue last year, down from 24 per cent in 2020.

Total student numbers (in people not EFTS) were 35 200 last year, down from nearly 38 800 in 2019. And there will be no recovery for a couple of years. Commencing 2021 enrolments were 11 900 down from 13 400 in 2020 and 14 600 in 2019.

RMIT fee and charge income dropped $55m ($27m for the RMIT Group) from 2020. RMIT Group revenue from continuing operations was up $97m, ($70m for the university).

Swinburne U’s domestic student headcount in both HE and VET divisions were up on 2019, but not enough to offset a drop in income from international students – down from $180m that year to $130m in 2021.

Overall consolidated income was effectively stable, up $4m on 2020 to $751m. Expenses were down $90m, largely due to a $60m reduction in employee costs. Overall a 2020 deficit of $56m was replaced by a $40.9m surplus last year.

More tomorrow