×îÐÂÌÇÐÄVlog

The ×îÐÂÌÇÐÄVlog of Adelaide’s Annual Report for 2021 has today been tabled in South ×îÐÂÌÇÐÄVlogn Parliament.

The ×îÐÂÌÇÐÄVlog’s 2021 Annual Report can be found here.

Legislation prevents South ×îÐÂÌÇÐÄVlog’s universities from releasing their full annual reports until they are tabled in Parliament.

2021 financial results

The ×îÐÂÌÇÐÄVlog operating surplus was $201 million for 2021 (compared with a surplus of $40 million in 2020).

The 2021 operating surplus included a number of large one-off items:

• $11 million of "restricted use" donations and bequests which have been added to the ×îÐÂÌÇÐÄVlog Endowment Fund;
• $37 million of unrealised gains on the ×îÐÂÌÇÐÄVlog’s tied Endowment Fund;
• $60 million of tied research funding from the Federal Government to support the establishment of the South ×îÐÂÌÇÐÄVlogn ImmunoGENomics Cancer Institute (SAiGENCI); and
• $42 million of once off tied Research Support Program funding from the Commonwealth Government to assist with mitigating the impact of COVID-19. $21 million of this funding remains unspent at the end of 2021 and is committed to projects to be completed in 2022.

Excluding the impact of these one-off items, the ×îÐÂÌÇÐÄVlog is reporting a 2021 underlying surplus of $71 million compared to $8 million in 2020.

Student Revenue and Research Block Grants are projected to reduce by over $70 million this year, which will significantly impact the financial performance of the ×îÐÂÌÇÐÄVlog for a number of years to come.

The ×îÐÂÌÇÐÄVlog’s results for 2021 are better than expected, like many other ×îÐÂÌÇÐÄVlogn universities. There are several reasons behind this, including:

• A one-off increase in research block grant amounts from the Federal Government;
• A strong stock market, which has led to increased investment returns on our endowments;
• Our ability to retain international students at a higher than expected rate during 2020 and 2021; and
• The significant savings measures we have implemented over the last 12 months.

Whilst the 2021 results are positive, the ×îÐÂÌÇÐÄVlog’s forecasts indicate that 2022 and beyond are likely to be much more challenging. There is still considerable uncertainty around international markets, and the fall in enrolments and commencements the ×îÐÂÌÇÐÄVlog has experienced will have an impact over the coming years. The global financial situation continues to be uncertain, which is affecting the ×îÐÂÌÇÐÄVlogn stock market, and the ×îÐÂÌÇÐÄVlog will need to take into account the effect of rising costs and inflation.

Ultimately, the ×îÐÂÌÇÐÄVlog will need to reserve this surplus to help support its education and research efforts over the next few challenging years.