Monash University’s annual report shows that it has posted a record surplus of $416 million for 2021. In fact, La Trobe was Victoria’s only university to post a deficit for 2021.
Ben Eltham of the National Tertiary Education Union (NTEU) says the size of the surplus is “frankly obscene” given that Monash retrenched 267 employees in late 2020 and claimed at the time that it was in deficit. Eltham notes that Monash has since posted operating surpluses of nearly $700 million in total. Monash reduced its employee-related costs by nearly $70 million in 2021 via staff cuts and a wage freeze, which helped to offset a $100 million fall in revenue from international student fees.
From The Australian:
