Staff say that revenue shortfalls were exaggerated, leading to unnecessary cuts.
April 25, 2021
The University of Sydney’s financial and census results show that it is performing “far better” than management had expected.
In an all-staff email sent on Thursday, Interim Vice-Chancellor Stephen Garton confirmed that the University experienced a net loss of $2.2 million in 2020 a much stronger result than the $470 million loss forecasted in the beginning of the pandemic, and the $184 million shortfall still expected after a September reassessment.
Additionally, the University forecasts a $202.4 million revenue increase in 2021. This is due to census results showing that international and domestic enrolments were 20% and 4% higher than expected respectively.