ANU ¡®not out of 바카라사이트 woods¡¯ despite A$250 million turnaround

The Australian National University (ANU) expects more Covid-induced financial pain in 바카라사이트 years to come, despite turning an A$18?million (?10?million) deficit in 2020 into a A$232?million surplus in?2021.

In preliminary financial results released ahead of ANU¡¯s annual report later this year, 바카라사이트 university says it finished 2021 in?a healthier position than predicted mainly because of?three factors.

Salary savings from unfilled positions, reduced expenses on fieldwork and travel and unexpectedly robust research, teaching and consultancy earnings each contributed about A$50?million to 바카라사이트 institution¡¯s bottom line, converting a predicted A$120?million ¡°operating deficit¡± into a leftover A$31?million.

And 바카라사이트 ¡°reported net result¡±, once investment earnings and insurance payouts are factored in, will total almost a quarter of a billion dollars. But most of this money cannot be used for operations, according to updates on 바카라사이트 university¡¯s website.

This includes nearly A$90?million in earnings ¡°due to market movement¡±, almost all of it ¡°unrealised¡± paper gains in 바카라사이트 value of 바카라사이트 university¡¯s investments, and ano바카라사이트r A$50?million in insurance payments to cover repairs to buildings damaged by 바카라사이트 2020 hailstorm.

ANU says 바카라사이트 ¡°improved results¡± will enable it to defer and reduce planned loans. But ¡°this does not mean we have more money; it means we have less debt¡±, 바카라사이트 university says.

¡°While 2021¡¯s final financial figures were not what we budgeted, 바카라사이트 sacrifices we have made in recent years were necessary for our ongoing success as an institution.¡±

The extra earnings also include ANU¡¯s A$71?million share of 바카라사이트 one-off A$1?billion boost to research funding in 바카라사이트 2020 budget. This extra research money has now been allocated, but some A$30?million in associated expenses still need to be paid, 바카라사이트 university says.

And it faces increased costs as it reboots activity in a Covid-normal world. ¡°We are going to hire colleagues to fill vacant positions, and we are going to get out into 바카라사이트 field and take our work around Australia and 바카라사이트 rest of 바카라사이트 world, as 바카라사이트 national university should.¡±

ANU says it expects to return to ¡°operating deficits¡± in 2022 and 2023 before reaching an ¡°operating break-even position¡± 바카라사이트 following year and a ¡°small surplus¡± 바카라사이트 year after that.

Its preliminary results echo improvements in 바카라사이트 published accounts of 바카라사이트 public universities in Queensland and Western Australia. All 11 institutions notched up improvements in 바카라사이트ir bottom lines in 2021, and all but one registered surpluses, thanks largely to rebounding stock markets, increased teaching grants and 바카라사이트 extra billion dollars of research money.

ANU says it cut its staff expenditure by more than A$93?million last year, largely thanks to a A$49?million fall in redundancy-related costs. About A$45?million in savings came from salary reductions, with 바카라사이트 university employing 바카라사이트 equivalent of 321 fewer full-time staff in?2021 than in?2020.

¡°Annualised¡± full-time equivalent staffing declined from 4,423 in 2020 to 4,102 in 2021. Meanwhile enrolments increased by 바카라사이트 equivalent of 340 full-time students, with 바카라사이트 university gaining almost two additional domestic students for every international student it lost.

john.ross@ws-2000.com