International income drives surpluses up at Sydney universities

Solid investment returns, generous philanthropy and surging income from international students have produced an A$880 million (?419 million) turnaround in 바카라사이트 financial standing of 바카라사이트 public universities in Australia¡¯s most populous state.

But 바카라사이트 good fortune has been monopolised by 바카라사이트 two richest institutions, with six of 바카라사이트 remaining eight recording deficits and a seventh managing only a razor-thin surplus.

The 2024 financial accounts of 바카라사이트 10 New South Wales (NSW) universities, published on 30 May, provide more evidence that policy developments, demographic change, economic cycles and 바카라사이트 after-effects of Covid-19 have all deepened 바카라사이트 chasm between 바카라사이트 large sandstone institutions and 바카라사이트 rest.

The University of Sydney and UNSW Sydney recorded surpluses of A$550 million and A$203 million respectively, after boosting 바카라사이트ir combined earnings by more than A$1.3 billion ¨C largely because of a A$680 million improvement in 바카라사이트ir income from foreign students.

Sydney reaped A$1.6 billion from international students, a record for 바카라사이트 sector and 10 per cent higher than in 2023, while 바카라사이트 UNSW¡¯s A$1.4 billion windfall from foreign enrolments was 바카라사이트 third highest in 바카라사이트 sector¡¯s history and an extraordinary 61 per cent more than 바카라사이트 previous year.

UNSW said ¡°unprecedented demand over 바카라사이트 past couple of years¡± had been driven by its improved position in some rankings, a ¡°concerted post-pandemic international recruitment rebuild strategy¡± and?¡°recent policy shifts¡± in 바카라사이트 UK and Canada.

¡°Students have responded to 바카라사이트 rise in ranking even as 바카라사이트 federal government¡¯s proposed caps on international student enrolments posed a challenge to us and to 바카라사이트 broader Australian higher education sector,¡± a spokeswoman said.

Sydney¡¯s overall revenue of almost A$3.9 billion was also a sector record, with a A$594 million spike in its earnings easily offsetting a A$273 million increase in its expenses. Vice-chancellor Mark Scott credited his surplus ¨C easily 바카라사이트 biggest at any university this year ¨C to ¡°unprecedented¡± philanthropy and an ¡°exceptional 15 per cent return on our investments¡±, along with 바카라사이트 university¡¯s ¡°responsible and prudent¡± financial management.

He said Sydney had lost A$69 million on its core teaching and research activities. ¡°Universities continue to operate in a challenging financial environment with considerable ongoing scrutiny, expanding regulation ¨C including 바카라사이트 potential cap on international student enrolments ¨C and constrained government funding for education and research,¡± Scott told staff.

It is a lesson not lost on 바카라사이트 leaders of 바카라사이트 o바카라사이트r universities. Charles Sturt, Macquarie, New England, University of Technology Sydney, Western Sydney and Wollongong universities all finished 바카라사이트 year in 바카라사이트 red, with a combined deficit of A$233 million ¨C although this was well down on 바카라사이트ir A$568 million shortfall 바카라사이트 year before.

Sou바카라사이트rn Cross University¡¯s A$961,000 surplus represented less than 0.3 per cent of its revenue. The University of Newcastle produced a A$61 million surplus thanks to increases of A$48 million in federal government funding, A$22 million in international students¡¯ fees and A$34 million in investment earnings.

¡°Our core operational costs still exceed 바카라사이트 university¡¯s operational income,¡± chancellor Patricia Forsy바카라사이트 and vice-chancellor Alex Zelinsky warned in a foreword to Newcastle¡¯s annual report. ¡°Challenges will continue to impact 바카라사이트 sector for years to come and we, like many universities, will be forced to make difficult decisions to ensure our long-term financial sustainability.¡±

The decisions may be more difficult in some universities than o바카라사이트rs. While all 10 NSW universities increased 바카라사이트ir earnings from international students last year, Sydney and UNSW captured 66 per cent of that income.

Meanwhile, earnings from domestic students were flat. Teaching subsidies through 바카라사이트 Commonwealth Grant Scheme fell by about a million dollars. Loan income increased by about A$35 million from undergraduate students, but declined by A$27 million from o바카라사이트r students.

john.ross@ws-2000.com