WESTERN Australia’s four public universities, which all recorded improved financial positions for the 12 months after the global financial crisis, have revealed steady increases in student numbers and revenue that has outpaced rising staff costs
WESTERN Australia’s four public universities, which all recorded improved financial positions for the 12 months after the global financial crisis, have revealed steady increases in student numbers and revenue that has outpaced rising staff costs.
Annual reports released in the past week and obtained by WA Business News show profitability has been restored or increased in all cases in a year where global uncertainty hit investments but bolstered student interest.
The University of WA has turned itself around for the year ending December 31 to record a net operating result of $52.4 million on total income of $737.9 million, compared to a loss making position in 2008 when its bottom line was affected by losses on its more than $400 million investment portfolio. In 2008, it made a loss of $63.9 million on revenue of $672.6 million.
UWA’s total assets were $1.59 billion at the end of 2009, and net assets were $1.38 billion.
Curtin University of Technology, however, had the better net operating result for the year, recording $59.7 million, up 7 per cent on the previous year. Curtin’s total revenue jumped more than 5 per cent to $684.6 million.
Total assets at Curtin were up almost 11 per cent to nearly $1.11 billion. Net assets were $810.6 million.
Edith Cowan University’s operating result climbed 17 per cent to $26.1 million, while revenue gained 6 per cent to $314.8 million. ECU’s total assets edged closer to the $1 billion mark, climbing 2 per cent to $958.6 million.
Net assets were $805.2 million
Murdoch University’s operating result of $16.7 million was up almost 20 per cent on the previous year, while revenue was just 4 per cent higher at $286.7 million.
Assets at Murdoch grew to $838.8 million, up 1.4 per cent, while net assets moved to $636.6 million.
UWA had the highest employee costs for the year, amounting to $412 million, a rise of 8 per cent, according to its recently released annual report.
During the year, UWA cracked the 20,000 mark in terms of student numbers, hitting 20,693, a rise of 8 per cent for the year.
Curtin University of Technology employee benefits rose 11 per cent to $349.7 million for the same period. Student numbers gained 3.3 per cent to 47,029, or 4.5 per cent, to 44,471 if vocation and education training is not included.
Edith Cowan employee related expenses also jumped 11 per cent, to $165 million, while student numbers climbed 6 per cent to 22,274.
At Murdoch, employee-related expenses amounted to $149.2 million, almost 9 per cent up, while student numbers climbed 6 per cent to 17,807.
Murdoch vice-chancellor John Yovich maintained the highest remuneration among the state’s public universities, with a package amounting to $857,000, up from $798,000, although the calendar 2009 payments included a one-off item relating to the conversion of prior unclaimed entitlements.
UWA vice-chancellor Alan Robson’s remuneration jumped to about $685,000, up from $635,000, not enough to head of the local tertiary leadership pay scales.
Curtin’s vice-chancellor Jeanette Hacket also moved up significantly, paid about $625,000 in 2009, compared to $505,000 the previous year.
ECU vice-chancellor Kerry Cox was paid about $555,000, up from $485,000.
