The University's financial result for 2013 reflects modest growth in operating revenue and expenditures, with support from non-recurring capital grants. The University's strong financial position provides a solid platform for the achievement of future strategic directions.
In 2013 revenue grew by 3.3 per cent (2012: 13.9 percent) after removing the one-off impact of the Commonwealth Government's capital expenditure grants.
Student-related revenue growth was offset by a decline in research revenue and investment earnings. The decline in investment earnings is largely attributable to a 2012 $15.8m dividend received on the disestablishment of a controlled entity.
Total expenditure increased in 2013 by 4.7 per cent (2012: 6.5 per cent). The increase is driven primarily by additional costs associated with growth in student numbers and additional property-related costs. The University achieved and operating surplus in 2013 of $63.3m (2012: $59.8m). After removing the distortion arising from the $28.1m (2012: $18.4m) in non-recurring Commonwealth Government grants for capital expenditure, the result was a surplus of $35.2m (2012: $41.4m).