Seven of Victoria’s eight universities reported a surplus in 2012, with the sector generating a total surplus of $454.6 million, compared to a $478.5 million surplus in 2011. Student fee revenue grew by $107.4 million, mainly due to higher domestic student fee income.
Victoria University, which had a deficit of $6.5 million, was assessed as having medium financial sustainability risk due to its poor self-financing indicator. Monash University’s financial sustainability risk was assessed as high due to low liquidity, however it had financial assets classified as ‘available for sale’ which can be converted to cash if required. The remaining six universities had a low financial sustainability risk in 2012.
Universities that have established overseas campuses have experienced mixed financial success. Monash University’s campus in South Africa is reliant on its parent to meet its ongoing expenditure commitments, requiring $34.0 million in loan funding over the past five years. Conversely, RMIT International University Vietnam has generated surpluses over the past five years totalling $30.5 million, and has no outstanding loans.