Results for all of Queensland’s public universities are in, bar QUT and Uni Southern Queensland.
Central Queensland University: Domestic HE numbers went down a bit, internationals increased somewhat, but enrolments in the dual sector provider’s VET division grew. It helped deliver a $41m revenue increase for the university’s consolidated account. But expenses also increased, driven by wage rises under the university’s enterprise agreement and increased teaching requirements, presumably in VET. Operational revenue was $545m, for a net $20m result, compared to a $7.6m loss last year. The highest paid staffer is unnamed but they were paid between $840,000 and $854,000 last year.
Griffith U: Domestic enrolments were down and internationals were up, both marginally. And management is not exactly enthused by the financials, while the $21.8m operating surplus is the first since 2021, “underlying performance remains below financial sustainability targets.” Revenue was $1.174bn and expenses $1.152bn. “Along with continuing lower domestic demand for higher education, government policy reduced the ability to attract international students,” the university states.
James Cook U: Starting as it meant to go on, the JCU states up front, “the university’s financial position remained challenging in 2024,” which seems harsh.
Total revenue for the “parent entity” was $579.9m, up 12% on ’23 due to more Commonwealth grants, including for a marginal increase in Commonwealth Supported Places. International students were up 8% to 2,800, around 25% of revenue. But the JCU consolidated account was in better shape, with $703m in revenue, $662m in costs and a net result of $37m. A big part of the difference is $269m in fee income booked to the consolidated account, which includes JCU Singapore.
Costs at the “parent group” increased by just 1.4%, predominantly due to wage rise under the new enterprise agreement and “changes to the University’s workforce plans,” – FC thinks this means retrenchments. The unnamed highest paid person in the university made between $840,000 and $859,000. It’s gotta be VC Simon Biggs.
Uni Queensland: Student numbers, including internationals have been stable-ish since 2020, including internationals, last year 17,800 EFTs, around 35% of the total student population. Staff numbers are up 5% or so. And yet revenue is up $500m – which is no mean feat. Investments are wot did it – after a $200m market-driven loss in 2022, income was $305m last year – nearly four times 2020. All up, the university group had a headline profit of $314m on $2.83bn revenue. VC Deborah Terry was paid $1.158m.
Uni Sunshine Coast: Continues a run of stable results. Income was up 9% as a result of student growth and Commonwealth grants with expenses increased the same, largely due to an enterprise agreement pay hike. There was a $20m plus operating surplus, same as in 2023, on $400m revenue. The modest annual increase in international student numbers continued, from 1,667 in 2021 to 2,291 last year. VC Helen Bartlett was paid $935,000; the university wants it known this was $5000 was less than in 2023.
