×îÐÂÌÇÐÄVlog

The ×îÐÂÌÇÐÄVlog reports a 2022 operating surplus of $12 million, compared with a surplus of $198 million in 2021, representing a decline of $186 million.

Student revenue experienced a slight decline, and salary and non-salary expenditure increased as the ×îÐÂÌÇÐÄVlog returned to pre-COVID-19 levels of operation.

The operating surplus in 2022 was impacted by several one-off funding items received in 2021, which were not repeated in 2022, including:

• $60 million of research funding from the Commonwealth Government to support the establishment of the South ×îÐÂÌÇÐÄVlogn ImmunoGENomics Cancer Institute (SAiGENCI); and
• $42 million of once-off research support program funding from the Commonwealth Government to assist with mitigating the impact of COVID-19.

The decline in global financial markets in 2022 resulted in a $64 million net reduction in the return on the ×îÐÂÌÇÐÄVlog Endowment Fund (a net loss of $17 million was recognised in 2022 compared to a net gain recognised in 2021 of $47 million).

The ×îÐÂÌÇÐÄVlog reports a 2022 underlying surplus of $14 million, compared to $68 million in 2021.

The underlying surplus represents revenues received by the ×îÐÂÌÇÐÄVlog that are not required to be directed to specific purposes, including student revenue, research training program and research support program funding and royalty income.

Future Outlook

While the ×îÐÂÌÇÐÄVlog reports an operating surplus for 2022, forecasts indicate that 2023 and future years will be challenging – as they appear to be for many universities having reported deficits for 2022.

The financial impact of reduced commencing student enrolments during the pandemic is still being felt in the ×îÐÂÌÇÐÄVlog’s financial results.  The ×îÐÂÌÇÐÄVlog is, however, beginning to see a recovery in commencing enrolments in 2023, with new initiatives recently being implemented to attract future students.

The ×îÐÂÌÇÐÄVlog will remain prudent in balancing the need for financial sustainability and managing the impact of student enrolments and inflationary cost pressures.  The savings measures implemented by the ×îÐÂÌÇÐÄVlog in recent years have assisted in achieving the modest 2022 financial result and will contribute to financial sustainability in the coming years.

The ×îÐÂÌÇÐÄVlog’s 2022 Annual Report and Financial Statements are available on the ×îÐÂÌÇÐÄVlog Website.