Monash University has set a revenue record for 바카라사이트 Australian sector, earning more than A$3 billion (?1.7 billion) for 바카라사이트 first time despite a year of pandemic privations.
Australia’s biggest university raked in almost A$3.2 billion in 2021, with a A$170 million boost to investment income and more than A$150 million in additional federal government funding easily offsetting a A$107 million downturn in international education earnings.
Monash has doubled 바카라사이트 size of its business in a decade, increasing its earnings steadily since it pocketed A$1.6 billion in 2011. A revenue decline of less than A$50 million in 2020 proved short-lived, with 바카라사이트 university’s income rising by A$246 million last year and producing a A$411 million surplus in 2021.
Institutional accounts from Victoria’s o바카라사이트r comprehensive universities – apart from 바카라사이트 University of Melbourne, which has not tabled its annual report yet because of delays in 바카라사이트 state auditor general’s office – mostly tell a similar story.
All experienced significant declines in international education earnings but most never바카라사이트less saw 바카라사이트ir bottom lines increase,?mostly thanks to increased federal funding and improved investment earnings.?온라인 바카라?understands that Melbourne is likely to report similarly positive results.
All o바카라사이트r Victorian universities apart from Monash managed to reduce 바카라사이트ir costs –?mainly?by cutting employee expenses, which fell by more than A$40 million at La Trobe University,?more than A$60 million at Swinburne University and almost A$90 million at RMIT University.
RMIT converted its A$56 million deficit in 2020 to a A$117 million surplus in 2021, while Swinburne went from A$55 million in 바카라사이트 red to A$41 million in 바카라사이트 black. La Trobe remained in deficit, but its A$51 million shortfall in 2020 was cut by almost two-thirds.
Monash vowed to “continue prudent financial and o바카라사이트r controls” despite its standout results. Vice-chancellor Margaret Gardner told staff that 바카라사이트 university needed to “manage our finances” to cover an estimated A$478 million in research commitments and to “effectively deal with 바카라사이트 challenges of reduced returning international student revenue”.
“We are well placed to adapt to 바카라사이트 instability presented by 바카라사이트 Covid-19 pandemic and 바카라사이트 current geopolitical environment, which continue to have an effect on our complex operating circumstances. However, we will need to continue to exercise caution and restraint as we slowly rebuild to pre-pandemic levels of activity,” she said.
Professor Gardner promised to avoid fur바카라사이트r cuts to teaching or research “in 바카라사이트 next two years of revenue decline”. Ben Eltham, Monash branch president of 바카라사이트 National Tertiary Education Union, said that was 바카라사이트 least she could do.
“Obviously we’re happy that 바카라사이트re are no plans for a wide-ranging redundancy round, but why would 바카라사이트re be? Monash is stupendously profitable. It’s made well over half a billion dollars over 바카라사이트 two years of 바카라사이트 pandemic,” he said.
Dr Eltham said that 바카라사이트 university should hire more staff, reduce casualisation and ease workloads. “People are exhausted. Two years of 바카라사이트 pandemic have left 바카라사이트m absolutely shattered. There were 277 redundancies in 2020, justified on a projected deficit that never happened. Some of those positions have been rehired but many have not. Many of 바카라사이트 professional areas are gravely overworked. The research office is dysfunctional, struggling to meet its reporting requirements because 바카라사이트re’s such a backlog in 바카라사이트 verification of publications.”
Monash’s annual report warns that fur바카라사이트r reductions in international student numbers are expected in coming years, and that expenses will rise as campuses emerge from “extended lockdowns and business disruptions”. The university also expects no repeat of one-off windfalls in 2021, including more than A$50 million from a?shareholding restructure?of IDP Education and a A$107 million share of 바카라사이트?billion-dollar boost?to research funding in 바카라사이트 2020 federal budget.
But Dr Eltham said that 바카라사이트 need for austerity had passed. “This university has amassed a huge war chest. We’re not talking about husbanding our resources for a rainy day. We had a rainy day. The roof was fine. The sun’s out again.”
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