Monash posts ¡®robust¡¯ surplus thanks to investment earnings

A big surplus at Australia¡¯s largest university could undermine warnings that an election battle over international student numbers is jeopardising 바카라사이트 sector¡¯s financial health.

A near-tenfold increase in Monash University¡¯s surplus put 바카라사이트 institution in 바카라사이트 black by A$308 million (?150 million) last year, according to vice-chancellor Sharon Pickering.

Announcing 바카라사이트 result to staff ahead of 바카라사이트 publication of Monash¡¯s financial accounts in May, Pickering credited investment gains, increased research revenue, a ¡°steady recovery¡± in international student numbers and ¡°strong growth¡± in domestic enrolments, ¡°combined with diligent expenditure management¡±.

She said 바카라사이트 ¡°hard-fought¡± financial result was achieved amid growing costs, ¡°declining sector-wide government funding¡± and an ¡°uncertain policy environment¡± as 바카라사이트 federal government attempted to ¡°mandate¡± international student numbers.

¡°Monash navigated 바카라사이트se challenges through disciplined financial management and controls,¡± Pickering told staff. ¡°We prioritised 바카라사이트 removal of operational complexities so that we [could] remain focused on our core reason for being.¡±

Queensland¡¯s public universities likewise revealed strong financial results in annual reports published at 바카라사이트 end of March. The state¡¯s richest institution, 바카라사이트 University of Queensland (UQ), outshone Monash with a A$315 million surplus.

Such figures could dent universities¡¯ arguments for funding boosts to bankroll more student places, bridge gaps in research funding and offset 바카라사이트 financial losses from last year¡¯s government crackdown on international student numbers.

However, Monash was relatively unaffected by 바카라사이트 government¡¯s thwarted plan to cap foreign commencements. Its quota for new overseas enrolments this year was 바카라사이트 second biggest in 바카라사이트 sector, and ¨C uniquely among Australia¡¯s top research-intensive universities ¨C substantially higher than 바카라사이트 federal education department¡¯s estimate of its 2023 commencements.

While 바카라사이트 government failed to legislate 바카라사이트 caps, 바카라사이트ir influence lives on under ¡°ministerial direction 111¡±, which instructs immigration staff to slow down 바카라사이트 processing of visas for institutions whose commencing student numbers are within 20 per cent of 바카라사이트 quotas announced last year.

The financial result at Monash, like UQ, was heavily reliant on volatile investment returns. Pickering revealed that investment earnings had accounted for at least half of 바카라사이트 2024 surplus.

Monash¡¯s strategic investments grew from A$1.93 billion in 2023 to A$2.32 billion last year, according to 바카라사이트 university¡¯s website.

Pickering told staff that 바카라사이트 university was operating in a ¡°turbulent and often unpredictable¡± environment. ¡°While our financial outlook has improved, this is not a time to lose focus.

¡°We must tread carefully so that our operating model and expenditure remains below our revenue and aligns with our founding purpose. We are still rebuilding our margins to a position where we can afford to fund 바카라사이트 large strategic and capital investments required for our future education and research ambitions and long-term financial sustainability.¡±

But she lauded 바카라사이트 ¡°robust¡± financial result of Monash¡¯s Australian operations, which had transformed a A$9 million ¡°net deficit¡± in 2023 to a A$181 million surplus last year.

The National Tertiary Education Union said 바카라사이트 ¡°impressive¡± financial results had been ¡°achieved off 바카라사이트 back of increasing class sizes, declining student experience and eroding academic freedom¡±.

Branch president Ben Eltham said student experience surveys were a ¡°more important¡± metric. ¡°Monash¡¯s dismal score¡­is amongst 바카라사이트 worst in 바카라사이트 country. That¡¯s because Monash continues to prioritise financial gain over its core mission of education.¡±

Pickering told staff that Monash¡¯s 2024 financial performance would allow it to ¡°accelerate investment in 바카라사이트 student experience¡±.

john.ross@ws-2000.com