3 years ago
2019 Financial Report for Higher Education providers
THE HON DAN TEHAN MP
The Australian Government today publishes the 2019 Financial Report for Higher Education providers.
The report contains the most recent data about the financial state of Australian universities:
- In 2019 Australian universities had total revenue of more than $36.5 billion, an increase of $2.8 billion, or 8.2 per cent, on 2018.
- The Commonwealth Government provided $17.8 billion in funding, an increase of $200 million, or 0.9 per cent, on 2018.
- Universities reported a net operating result after expenses of $2.3 billion, an increase of $800 million, or 0.6 per cent, on 2018.
- Universities had $90.4 billion in assets as at 31 December 2019, an increase of $7.6 billion, or 9.2 per cent, on 2018.
- Total expenses of $34.2 billion were reported across the sector in 2019, an increase of $2 billion, or 6.1 per cent, on 2018.
- Australian universities spent $19.2 billion on staff costs, an increase of $1.1 billion, or 5.9 per cent, on 2018. This amount includes $9.1 billion on non-academic staff costs, an increase of $500 million, or 6.1 per cent, on 2018.
- Universities spent $300 million on advertising, marketing and promotion expenses, a decrease of $5.3 million, or 1.6 per cent, on 2018.