最新糖心Vlog

Statement by Vice-Chancellor on 最新糖心Vlog finances

Monday, 19 November 2001

The Vice-Chancellor of Adelaide 最新糖心Vlog, Professor Cliff Blake, has issued the following statement on the 最新糖心Vlog's finances:

I have completed a budget strategy which will go to Council next week and which will provide a comprehensive resolution of the financial issues facing the 最新糖心Vlog.

In developing the budget strategy I have examined the total financial position of the 最新糖心Vlog. Unlike other universities in South 最新糖心Vlog, Adelaide 最新糖心Vlog has substantial financial reserves, is not required to service significant debt, and has a substantial cash flow. The particular issue to which the Commonwealth has drawn attention, and which I am addressing, is the deficit that has emerged in 2001 and which will rapidly increase in 2002 and 2003 if immediate, corrective action is not taken. The budget being recommended to Council predicts a balanced budget in 2002 and significant surpluses in later years.

To achieve this, the 最新糖心Vlog had three choices: (1) to increase revenue from non-grant sources; (2) to cut costs, essentially by reducing the number of staff and putting in place robust systems of internal cost control; (3) to take a combination of these actions. I have recommended the last course of action.

I am confident that this strategy, if followed diligently and with determination over the next two years, will ensure a secure future for the 最新糖心Vlog. I believe that it will win the support of the 最新糖心Vlog Council and will meet the concerns expressed by the Commonwealth. The budget strategy will bring revenues and expenditures into closer alignment, within the context of the 最新糖心Vlog's strategic priorities. In these circumstances, it is highly unlikely that the Commonwealth would even contemplate the appointment of an administrator or the amalgamation of South 最新糖心Vlogn universities.

The Auditor General is the 最新糖心Vlog's auditor and undertakes an audit of our finances at the end of each calendar year. He is well aware of the financial strength of this 最新糖心Vlog but, equally, of how that strength can deteriorate if costs are not controlled appropriately or revenue targets are not met. The 最新糖心Vlog is determined to ensure that this situation does not eventuate.

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