We remain in a sound financial position, with a consolidated underlying budget result of $22 million (or 2.9% margin) before DEEWR capital grants are added.
The University aims to maintain or strengthen commitment to three priority areas: the student experience; world class research and teaching; and commercial activities that provide an income stream.
Key statistics
We expect expenses will increase, for example:
- employee related expenses to grow by 3.7%
- repairs and essential maintenance to engineering plant and Uni buildings to grow by 3.7%.
While income from students will decrease:
- total student load is budgeted to decrease by 1.4%
- international student load is budgeted to decrease by 9.9%
- total Commonwealth Supported Places are budgeted to grow by 4.0%.
Funds allocated to Faculties and Offices will increase:
- overall the Faculty allocations increase by 5.5% over the 2011 forecast result
- overall the Offices allocations increase by 2.6% over the 2011 forecast result.
The University’s overall budgeted position is:
- consolidated revenue of $771.06 million
- consolidated expenses of $748.98 million.
The 2012 budget includes capital investment of $157.34 million, including:
- $92.24 million invested in the Australian Hearing Hub
- IT projects, including Moodle, receive $12.94 million.
We have been investing in health and medicine. Medical research receives the most Commonwealth Government funding of all research fields (~$500 million p.a. and ~34% of total research grants for universities). We have historically ranked 7-9th domestically without a school of medicine to attract medical research funds. Now that MUH and ASAM are established, our focus will be on increasing their research activity. Already, between 2011 and 2012 NHMRC grants have increased from $2.3 million to $4.5 million.
The Hospital is forecast to operate at a small deficit next year and move to a surplus thereafter, well ahead of our projections
Information supplied by John Gorman, Chief Financial Officer
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