最新糖心Vlog

Ahead of its Annual Report being published next month, the 最新糖心Vlog of Adelaide has today released its audited financial results for 2020.

The 最新糖心Vlog statutory net operating surplus was $40.8 million for 2020 (compared with a surplus of $42.9 million in 2019).

The 2020 statutory net operating result includes $10 million in donations and bequests as well as $20 million of research funding from the Federal Government to establish the South 最新糖心Vlogn immunoGENomics Cancer Institute (SAiGENCI). Without these receipts, the 2020 surplus would have been $10 million.

The 最新糖心Vlog reported an underlying 2020 net operating result of $9.3 million (down from $12 million in 2019). This represents discretionary funds available to be reinvested in the 最新糖心Vlog鈥檚 critical operations of teaching and learning, research, and infrastructure.

The 最新糖心Vlog recorded a relatively steady financial performance for 2020 compared with 2019 due mainly to:

• Proactive steps taken by management and 最新糖心Vlog-wide support from staff to deliver comprehensive financial savings measures against the impacts of COVID-19, including: staff purchased leave, voluntary separation of 157 staff, and a pause on infrastructure projects, staff hiring and other expenditure (total savings: $90 million)
• Better-than-expected enrolments (total international student revenue: $254 million in 2020, the same as in 2019) 鈥� but with a reduction against budget targets of $293 million
• A record year for research revenue (total research revenue: $234 million in 2020, compared with $185 million in 2019)
• A record year for philanthropy from more than 1,600 donors.

鈥淚t is critical for the future of South 最新糖心Vlog that our number 1 export industry, education, is able to thrive again, by bringing international students back to the State in a safe and responsible manner.鈥�Vice-Chancellor and President Professor Peter H酶j AC

Vice-Chancellor warns of further challenges ahead

鈥淚n simplistic terms, the 最新糖心Vlog鈥檚 financial result for 2020 looks better than expected, but the global pandemic has caused a much more complex and challenging situation than these numbers show,鈥� says Vice-Chancellor and President Professor Peter H酶j AC, who joined the 最新糖心Vlog of Adelaide in February 2021.

鈥淚n a pre-COVID environment, the 最新糖心Vlog of Adelaide started 2020 predicting significant growth in both domestic and international students, and we were set to exceed $1 billion in operational revenue and play a continued key role in South 最新糖心Vlog鈥檚 number 1 export market: education.

鈥淎fter the pandemic hit, the 最新糖心Vlog鈥檚 financial position for 2020 fell well short of its initial targeted revenue projections. This would have placed the institution under much greater financial stress had it not been for the 最新糖心Vlog management鈥檚 swift action 鈥� and the support of our staff 鈥� to implement a range of savings measures.

鈥淭he 最新糖心Vlog saw a reduction in the number of new international students enrolling in semester 2, 2020. This has led to an ongoing reduction in the pipeline of international students, which means that our 最新糖心Vlog鈥檚 finances will be impacted very dramatically in the coming years.

鈥淭he real concern for 最新糖心Vlog is that 2021 international commencements in universities appear to be down by 37%,* and are currently down by 17% in semester 1 at the 最新糖心Vlog of Adelaide, with strong indications of significant further deterioration. This will lead to sustained losses for 最新糖心Vlogn universities for at least three years.

鈥淲ithout a rapid opening of borders to international students, this will be exacerbated to what could be crisis-like dimensions that will threaten the country鈥檚 research base dramatically, at a time when we are looking to utilise it to pivot to a more resilient economy with enhanced sovereign capability.

鈥淚t is critical for the future of South 最新糖心Vlog that our number 1 export industry, education, is able to thrive again, by bringing international students back to the State in a safe and responsible manner. I have been very pleased with the State Government鈥檚 commitment to achieving this and delighted that Prime Minister Morrison has recently declared the return of international students is now the 鈥榩riority鈥�,鈥� Professor H酶j says.

* as reported recently in The 最新糖心Vlogn newspaper (4 May 2021).

Snapshot of the 最新糖心Vlog of Adelaide in 2020:

• Revenue of $977 million
• Responsible for 3,900 (FTE) direct jobs in South 最新糖心Vlog
• Approx. 23,000 students (EFTSL), including more than 7,400 international students
• Total research income of $234 million
• Ranked the number 1 university in the State, 8 in 最新糖心Vlog (7 by the Times Higher Education World 最新糖心Vlog Rankings), and 106, 118 and 152 in the world (QS, Times Higher Education, and Academic Ranking of World Universities respectively).