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Australian Catholic University annual review 2008

Finance


2008 increase in revenue

Principal activities

The principal activities of ACU during the course of the financial year were those of a university operating at both an undergraduate and a postgraduate level on six campuses across four states:

  • Queensland
  • New South Wales
  • Victoria 
  • Australian Capital Territory.

The University also undertook formal entrepreneurial activities through the conduct of special non-award and fee-paying courses including offshore programs in Hong Kong. The University has links in a number of other countries including:

  • the United States
  • Indonesia
  • Pakistan
  • East Timor.

Review and result of operations

There was a positive result for the year ended 31 December 2008 of $8.838m (2007 $18.03m). Significant increases in revenue include:

  • Commonwealth Grants Scheme $6.45m
  • HECS HELP $6.06m
  • Fees and Charges $1.57m.

Significant increases in expenditure include:

  • employee benefits of $15.65m
  • other expenses of $6.22m.

There was a positive result for the year in relation to Operating activities of $3.01m and Capital activities of $5.83m.

There was an improvement in the cash and investments position of $4.40m partly due to revenue exceeding expenditure but also as a result of the receipt of the federal government’s Better Universities Renewal Fund (BURF) Grant in advance of expenditure on approved capital projects.

Financial highlights

2008
$’000

2007
$’000

Commonwealth Government Grants

121,330

108,716

Deferred Superannuation Contribution

354

(1,184)

Other Operating Revenue

53,314

52,139

Finance Income

1,806

2,817

Salary (excluding transfer to Provisions)

(108,784)

(94,212)

Non-Salary Cash Expenses

(48,146)

(40,785)

Non-Cash Expenses (Depreciation, Amortisation and Provisions)

(11,036)

(9,458)

Net Operating Profit

8,838

18,033

Working Capital Surplus

36,978

33,763

Also view

Significant changes in the state of affairs

A major capital expansion program is currently in place with significant capital expenditure expected during 2009 and 2010. The program is the result of a major review of both the short-term and long-term capital planning needs of the University and is designed to address a critical shortage of teaching and administrative space identified in relation to campuses in Sydney, Melbourne and Brisbane. Funding of the expenditure will be from University cash reserves, augmented from external loan finance if required.

 

Download our financial reports for 2008 (PDF, 263kb)