Western Australian Universities 2022 Financial Outcomes Meet Expectations but are Less than 2021 Outcomes
By Frank Larkins
The financial information provided in the 2022 annual reports for the Western Australian Universities broadly confirm expectations based on previous analyses of 2021 reports. They provide an insight into expected outcomes for most other Australian universities. Without the 2021 one-off additional one-billion dollars Australian Government research assistance and the IDP Education investment income 2022 comprehensive incomes were expected to be lower for most universities with deficits rather than surpluses reported.
The Western Australian financial results for 2022 are analysed in this paper. Incomes are indeed lower for all four universities in 2022 in comparison to 2021. Three universities reported higher expenditures with the net outcome that Curtin and Murdoch had deficits from current operations compared with surpluses for all four universities the previous year. All the universities received lower financial assistance from the Australian government in 2022 than in 2021 and overseas student fee incomes were lower, except for Edith Cowan. Notwithstanding the on-going pandemic challenges, three universities increased their total assets in 2022 when compared with 2021. Improved financial outcomes are expected for 2023.
Professor Emeritus Frank Larkins is an Honorary Professorial Fellow from the Melbourne Centre for the Study of Higher Education and School of Chemistry, at The University of Melbourne.