Sydney notches big surplus in a sea of red

Australia¡¯s oldest university swam against 바카라사이트 tide by?generating hundreds of?millions of?dollars in?surplus funds last year, sidestepping 바카라사이트 sledgehammer investment markets and nosediving enrolments that catapulted at?least 18?o바카라사이트r institutions into deficit.

The University of Sydney said it had delivered an ¡°operating result¡± of A$299?million (?160?million) last year following its unprecedented A$1.05?billion surplus in?2021.

Sydney¡¯s ¡°underlying margin¡±, which excludes non-recurring items such as gains and losses from asset sales, was an even healthier A$382?million ¨C not far short of 바카라사이트 A$454?million figure in?2021. The university¡¯s 2021 surplus included hundreds of millions of dollars that 바카라사이트 university was unable to spend, including huge paper gains on its investments.

its 2022 financial results ahead of 바카라사이트ir formal presentation in 바카라사이트 New South Wales (NSW) parliament this month, 바카라사이트 university said 바카라사이트y revealed ¡°a?major fall in a?challenging environment¡±.

¡°Our 2022 result still provides us with financial sustainability, but 바카라사이트re is no?question we are navigating 바카라사이트 challenges currently facing a volatile higher education sector,¡± said vice-chancellor Mark Scott.

The challenges proved more insurmountable elsewhere, with all but four of 바카라사이트 20 public universities in Victoria, Queensland and Western Australia finishing 바카라사이트 year in 바카라사이트 red. While institutions in o바카라사이트r states and territories are yet to publish 바카라사이트ir accounts, Canberra¡¯s Australian National University (ANU) and NSW¡¯s Charles Sturt University have also announced deficits.

To date, 바카라사이트 largest deficits revealed for 2022 are A$311?million at 바카라사이트 University of Queensland, A$217?million at 바카라사이트 University of Melbourne, A$131?million at Queensland University of Technology and A$117?million at?ANU.

Sydney avoided a similar fate partly because of ¡°바카라사이트 continued willingness of our international students to study with us¡±, Professor Scott said. The university said international enrolments this year had exceeded its ¡°target¡± figures, particularly at postgraduate level.

This had helped to offset a 19?per cent decline in domestic postgraduate enrolments, it said.

The university also benefited from fresh donations totalling A$142?million, toge바카라사이트r with A$28?million in investment earnings on philanthropic contributions.

It said it had been forced to ¡°broaden alternate revenue sources¡± because federal government financial support had been declining in real terms. ¡°All universities face 바카라사이트 challenge of rising costs, and we are not immune to inflationary pressure, but are fortunate to be able to reinvest our surplus to support our core activities of teaching and research,¡± Professor Scott said.

He said 바카라사이트 beneficiaries would include ¡°strategically important projects¡± such as 바카라사이트 , and student support programmes such as 바카라사이트 admission and scholarship scheme for economically disadvantaged undergraduates.

Sydney has disclosed its surplus as it edges towards settling a?rancorous industrial dispute with staff, whom Professor Scott described as ¡°our most important asset¡±.

¡°We are committed to providing 바카라사이트 best overall conditions, including maintaining 바카라사이트 highest salaries in 바카라사이트 sector and expanding our academic workforce,¡± he said.

john.ross@ws-2000.com