The Age recently published some financial results for Australian universities
University financial results 2014
1.University of Melbourne: $183 million surplus
2. Monash University: $162 million surplus
3. University of Sydney: $161 million surplus
4. Central Queensland University: $150 million surplus
5. University of NSW: $125 million surplus
1. Victoria University: $16 million deficit
2. University of Canberra: $2 million deficit
3. University of Tasmania: $297,000 deficit
4. Griffith University: $876,000 surplus
5. Federation University: $2.8 million surplus
The newspaper did not say whether these results are cumulative or whether they are simply for 2014 but it does appear likely that this 2014.
So what’s the point of the top five universities running surpluses totalling $781m?
Surely, institutions that are reliant on public money should endeavour to balance her budgets each year. Spend the revenue they receive either on teaching or on research but not salted away in the bank.
Arguments that university students should be paying more in fees fall flat on the face of these figures.
What we have here is a case for lowering student fees not increasing them or pay their staff more.