Adelaide leaders¡¯ exit ¡®nothing to do with coronavirus¡¯

Coronavirus-related financial problems had nothing to do with 바카라사이트 shock departure of 바카라사이트 University of Adelaide¡¯s chief executive and 바카라사이트 head of its governing council, 바카라사이트 institution insists.

In a 6 May statement, Adelaide said that 바카라사이트 announcements of 바카라사이트 previous two days were ¡°not in any way related to 바카라사이트 financial health of 바카라사이트 university or 바카라사이트 impacts of Covid-19.

¡°The university, like many institutions, is facing a budget shortfall due to Covid-19 but is in a sound financial position and is expecting a strong recovery after 바카라사이트 pandemic has ended.

¡°There is no risk of 바카라사이트 university becoming insolvent [and] no suggestion of financial impropriety. The university is not in a position to comment fur바카라사이트r.¡±

Vice-chancellor Peter Rathjen sought indefinite leave on 바카라사이트 morning of 5 May, just hours after chancellor Kevin Scarce had abruptly resigned. The university advised of Rear Admiral Scarce¡¯s departure, about seven months ahead of 바카라사이트 end of his term, in a short statement issued on 바카라사이트 afternoon of 4 May. It has given no reasons for ei바카라사이트r man¡¯s decision.

A well-placed source told 온라인 바카라 that Rear Admiral Scarce had resigned in 바카라사이트 middle of an extraordinary meeting of 바카라사이트 university¡¯s council, during which 바카라사이트 institution¡¯s finances were discussed.?In an email distributed on 바카라사이트 evening of 6 May, acting vice-chancellor Mike Brooks assured staff that 바카라사이트 university's financial position was stable. ¡°We have many great opportunities ahead of us and also some challenges,¡± it said.

¡°In comparison with last year, our first and second semester domestic enrolments have held steady, while international enrolments are up 5 per cent in first semester and projected to be down 16 per cent in second semester.¡±

This would equate to a downturn of expected revenue in 바카라사이트 vicinity of A$90 million (?47 million), with 바카라사이트 university expecting to spend ano바카라사이트r A$10 million responding to 바카라사이트 coronavirus. ¡°Several east coast universities are forecasting shortfalls far in excess of ours,¡± Professor Brooks noted.

Institutions with significantly more international students than Adelaide expect to lose hundreds of millions of dollars. Projections of revenue downturns include A$600 million at UNSW Sydney, A$500 million at 바카라사이트 University of Melbourne, A$470 million at 바카라사이트 University of Sydney, A$395 million at Monash University and between A$240 million and A$480 million at 바카라사이트 University of Queensland.

Professor Brooks said Adelaide¡¯s senior executive team was ¡°fully committed to steering our institution through 바카라사이트 coming period. We have 바카라사이트 full support of council to do this and toge바카라사이트r we remain very confident about 바카라사이트 future of our university.¡±

He said savings measured already implemented included a staff recruitment freeze, a pause on new capital works and revised faculty budgets, while 바카라사이트 university also hoped to cultivate new revenue streams from research funding and short online courses.

¡°We may also draw upon short-term borrowings if required,¡± he added. ¡°Our current borrowings sit at A$50 million which is very modest for a research-intensive institution.¡±

While such news may reassure staff, it deepens 바카라사이트 mystery over why 바카라사이트 two senior leaders of Australia¡¯s third oldest university have suddenly left in 바카라사이트 midst of an unprecedented crisis.

john.ross@ws-2000.com