Worlds of pain in Queensland uni finances

Annual reports tabled in state parliament reveal deficits (nearly) everywhere

Central Queensland U: operating deficit of $24.3m was up on the $21.7m deficit in 2021. Total revenue was up $6m to $410m and expenses increased $8m to nearly $435m.

International student fee income recovered on ’21 by nearly 30 per cent to $80m (although retention rates remain, “sub-optimal”). However government funded student load was down 14 per cent on 2021. CQU attributes this “anecdotally … to the low unemployment rates in the community.”

Griffith U: revenue was $934m, down from $1.044bn in 2021 while expenses were $83m up to $1.04bn The university attributes the revenue decline to factors including the not-repeated ’21 Commonwealth research support, and “negative investment returns.” The increase in expenditure was due to a range of factors including a 6.5 per cent rise in staff costs, “along with the well-documented impacts of higher inflationary pressures.”

“Despite the net operating loss of $69.7 million, the University remains financially sustainable,” GU adds.

James Cook U: reports a headline loss of $48.9m – down from an $18.6m, surplus in ’21 However it’s preferred underlying operating result (ex one offs) was an increased deficit, $35m in ’22, $12.6m in ’21).

A 9 per cent revenue decline to $447m was due in part to a fall in CSP students, $15m less in Commonwealth research funding (largely due to the one-off ’21 Covid-emergency payment)

“We continued to deal with the ongoing impacts of the pandemic from 2020 and 2021, while also addressing underlying financial sustainability challenges,” JCU states.

QUT: scroll up for VC Margaret Sheil’s message to staff. The university’s annual report was not with Parliament in time for release Friday – perhaps delayed by the December cyber-attack on university systems

Uni Southern Queensland: Total income was just short of $327m, down nearly $95m This is attributed to the 2021 one-off dividend from USQ’s share of the IDP international student recruitment sale. International students fees were down $5m, close to half the 2021 loss. Total expenses were stable, but there was a 5 per cent drop in employee related expenses, “driven by a challenging talent recruitment market.” Overall the university reported a $15,5 deficit.

Uni Queensland: recorded a consolidated loss of $310.8m compared to a comparable surplus of $341.9m in 2021 The university attributes this in large part to a $430m “movement in investment revenue,” to a $209m loss “due to the change in market conditions.” Plus, there was a $143m timing difference in receipt of Commonwealth pandemic support for research and expenditure. VC Deborah Terry previously explained to staff why the headline loss is different to how it looks (CMM Friday).

Uni Sunshine Coast: despite a decline in international student income overall revenue was up 3 per cent to $346.1m. Operating expenses were 7 per cent higher ($311m) for a $34m operating result, down from $45m in 2022. Down, but still a surplus.

USC reported a marginal decline EFT student load, pointing to “increases in labour market opportunities “on the one hand and “harsh economic conditions including cost of living and rental affordability,” on the other.