2022 ANU financial results

The University's 2022 financial results have been finalised through the auditing process and approved by ANU Council on 31 March 2023. 

Our full audited financial statements will be included in our annual report, which will be tabled in Parliament later this year and available on public record. These high-level figures are to give members of the ANU community more context about our situation. 

In 2022, we expected an operating deficit of $182.8 million.  

Our actual operating result for 2022 was a deficit of $117.4 million.  We performed better than expected predominantly with: 

  • $15.1 million in tuition fee revenues, higher than expected 
  • $65.8 million in grant revenues, higher than expected  
  • $1.5 million in other revenues, higher than expected 
  • $17 million in other expenses, higher than expected 

We are spending $2.25 million more per week than we are earning.

Our better-than-expected operating result does not mean the University has more money, it means we have less debt. 

In our complete financial statements included in our annual report, and submitted to Parliament, we include income sources that cannot all be used for our University operations.  

You will also see a reported net result of a deficit of $139.6 million, which is a larger deficit than our operating deficit. This includes income from investments and insurance proceeds, both of which we are unable to use for operating expenses. There is $43.9 million loss in investments revenue of which $52.6 million is an unrealised loss and a realised gain of $7.9 million (including investment returns, dividend and interest). There is also $37.3 million of insurance payments that will be used for remediation of buildings damaged by the hailstorm in 2020.

The insurance for the hailstorm repairs will continue to be paid out for several years as repairs progress. These will continue to be reported as proceeds in our income statement but can only be spent on the impacted building repairs.
 

We will continue to review our financial position with quarterly forecasting and continue updating our five-year financial plan to ensure University decisions are not based on short term focus.  

We are optimistic we can deliver on the 2023 budget however we are cautious about our research performance relative to the sector as we have had a year-on-year reduction in our Research Block Grant. This is an area of increased focus for us.  

We expected an operating deficit in 2022, and we anticipate another operating deficit in 2023.  

We are in a far stronger position currently due to the University’s response to COVID between 2020 – 2021 and its action to reduce operating costs. 
 

Terms: 
Unrealised loss is a recorded loss from holding an asset that has decreased in value which the University still retains in its asset portfolio.  

Unrealised gain is a recorded gain from holding an asset that has increased in value which the University still retains in its asset portfolio.