ANU releases 2020 financial figures

The Australian National University (ANU) recorded a $162.4 million operating deficit in 2020, Vice-Chancellor Professor Brian Schmidt has told staff and students today. ANU has released key financial results for 2020 ahead of the formal tabling of its annual report later in the year as part of its commitment to full transparency about its financial position. The $162.4 million operating deficit is a better return than the previous forecast of $219 million under the University's Recovery Plan. This is mostly due to better-than-expected tuition income from student retention ($22.7 million) and income from research grants ($27 million). The reported accounting loss in 2020 was $17.7 million, which includes insurance proceeds of $91 million for 2018 flood and 2020 hail damage that can only be spent on related repairs; investment returns of $61 million, which can only be used for superannuation and endowments; accounting adjustments of $3.8 million and deferred superannuation expense of $11.5 million. The University does not anticipate any more job losses than the 467 modelled in its Recovery Plan. ANU Vice-Chancellor Professor Brian Schmidt said: "I thank each and every one of you for your unrelenting focus on our core work, in what have been unthinkably challenging circumstances.  "The difference between our forecast and the actual 2020 deficits is mostly due to tuition income and income from research grants.