Annual reports of the state’s public universities have been tabled in State Parliament and they certainly deliver on being “not for profit.”
Deakin U: had an $18m loss on the consolidated account last year, on revenue of $1.48bn. There was a $54m loss in 2023 on $1.31bn income. The university states it expects a loss this year. Staff costs were $886m last year, up 10% on ’23.
Federation U: is working toward a sustainable base. Commonwealth funding drove a modest income increase which with savings generated a net loss of $29m, compared to $80m in 2023.
La Trobe U: Lost $50m on revenues of $912m last year, compared to a $3m surplus on $866m in 2023. Management attributes the income increase to student enrolments and the loss in significant part to a 17% increase in staff costs, notably from enterprise agreement pay rises.
Monash U: Group income was up 15% to $3.77bn, way ahead of the 6% increase in operating costs, to $3.46bn. The operating result ($308m) was ten times that of ‘23. But strip-out one-offs and income tied to specific purposes and the net result was $48m.
RMIT: had a 12% increase on operating income, to $1.572bn and an 8% lift in expenses, to $1,569bn. After a (tiny) income tax payment it had a $1.8m net result compared to a $59m loss in 2023.
Swinburne U: grew revenue (up $100m to $960m) faster than operating expenses ($50m higher than ’23), to $888m. The $71m net result was three times 2023.
University of Divinity: made a $500,000 operating loss on revenues of $13.6m. Income was 15% down on its recent best year, $15.9m in 2021.
University of Melbourne: management spent up, with expenses rising by $300m, nearly 10% on 2023. A big part of the increase appears to be staff costs, with FTE headcount up 500, to 11,000. Operating income was also up, by close to 10%, to $3.166bn. Overall, UoM nearly broke even, with an operating loss of $99m, in-line with last year.
Victoria U: did well. Income was up $78m on 2023, while operating expenses fell by $6m, to $550m, for an operating result of $66m, from an $18 loss in 2023. “Fees and charges,” HE speak for students paying for courses, ex the loan scheme, was up nearly 20%, to $195m.
