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ANU releases its 2020 deficit .
Australia ’ s top-ranked university has joined the list of institutions hit hard by plunging revenue , with The Australian National University recording a $ 162.4 million operating deficit for 2020 .
Vice-chancellor Professor Brian Schmidt released the 2020 financial results in April , with the formal tabling of its annual report expected later this year . Although the deficit is substantial , it is an improvement on the $ 219 million deficit that was forecast under the University ’ s Recovery Plan .
Income from research grants ($ 27 million ) as well as tuition income from student
Photo : Ray Strange
‘ Hardest period in 75 years ’
retention ($ 22.7 million ) have resulted in better-than-expected financial results .
Despite the challenging situation ANU finds itself in , it does not “ anticipate any more job losses than the 467 modelled in its Recovery Plan ”.
“ I thank each and every one of you for your unrelenting focus on our core work , in what have been unthinkably challenging circumstances ,” Schmidt said .
“ The sacrifices you have all made in the past year have gone a long way towards reducing our deficit and future-proofing the university from further financial shocks .
“ This has been the hardest 12-month period in our 75-year history and I know you are all working extremely hard to steer the university towards a brighter future ,” he said . In 2019 ANU reported a surplus of $ 317 million , with 19,700 domestic and international students studying a full-time load . In contrast , 2020 saw 2000 fewer international and domestic students studying a full-time load at the university .
More than 400 full-time staff have been shed between February 2020 and February 2021 .
ANU ’ s bottom line was significantly affected by a 21 per cent decrease in international student tuition , as well as a $ 172 million reduction in investment returns due to poor market conditions .
Increases and reductions in expenditure between 2019 and 2020 include : ∞ $ 43 million increase in salary expenditure ∞ $ 66 million in separation payments ∞ $ 9 million reduction in casual salaries ∞ $ 20 million boost to student accommodation to assist students not able to take up residence
∞ $ 8 million increase in student travel bursaries and scholarships , primarily related to the pandemic and student hardship relief
∞ $ 29 million reduction in other non-salary expenditure . ■
Top five
Five Aussie online MBA programs make QS list .
An Australian institution has maintained its top 5 spot on a list of the world ’ s best Online MBA programs .
The Australian Graduate School of Management ( AGSM ) at UNSW Business
School was the world ’ s fourth best provider in the 2021 edition of the QS Quacquarelli Symonds ranking .
All up , five Aussie Online MBA programs were named among the 57 ranked offerings .
QS put AGSM ’ s national dominance in part down to its employability outcomes – it received a score of 87.3 / 100 for those metrics , the third highest of all ranked programs . Its next highest score was for class experience ( 77.8 ), followed by class profile ( 74.9 ) and faculty and teaching ( 71.4 ). A debutant in the rankings , Macquarie Business School started strong at number 19 . It received a perfect score for class experience .
Australia ’ s next best performer , Deakin Business School ( 29 overall ) also performed well on those metrics , posting a score of 92.7 / 100 .
The nation ’ s other ranked programs included La Trobe University ( 31 overall ) and Curtin Graduate School of Business ( 45 ).
Spain ’ s IE Business School was again named the world ’ s best Online MBA program , a title it has held for the past four years . It was trailed by UK providers Imperial College Business School and Warwick Business School .
QS chief executive Nunzio Quacquarelli said online MBA programs across the world were increasingly reporting higher learner demand prior to the pandemic .
“ As ever-more business schools seek to place their offerings in front of ever-more potential students , our results will continue to help prospective students differentiate between the myriad options now available to them ,” Quacquarelli said . ■
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