Universities in NSW saw an unexpected turnaround in their financial fortunes in 2021. But it’s unlikely to repeat itself.
Professor Larkins’ analysis reveals total incomes for NSW universities increased by $1.65 billion over 2020 figures.“A collective 2020 deficit of $190 million was transformed to a 2021 surplus of $2.1 billion,” he wrote.
“The devastation could be significant,” said former vice-chancellor Glyn Davis, who is now head of Prime Minister and Cabinet. “This is going to be a slow burn. And slow burns are the most difficult because it’s really hard to get anyone’s attention.” “The university also reported a fair value of $211.7 million on IDP shares obtained through the wind-up of Education Australia,” Professor Larkins said.
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