Improvement for SCU's bottom line

SOUTHERN Cross University's bottom line has improved considerably.

The university has welcomed the Auditor General's Report, tabled in NSW Parliament yesterday (May 28).

The Report highlights the improvement in the University's financial sustainability.

The University's operating margin, which excludes capital grants, improved from negative 8.8% in 2013 to negative 4.4% in 2014. A surplus of $13.1 million was recorded, after the inclusion of capital grants. 

Vice Chancellor Professor Peter Lee said there had a been a significant amount of work done across the University to grow new markets and provide new course offerings, to improve efficiency across the University and to reduce expenses.

"The University's current trajectory is one of continued financial improvement, thanks to the work of all staff, as we continue our sustainable recovery," Professor Lee said.

"We have introduced a number of measures to reduce our administrative costs and to ensure that our focus remains on our core mission of teaching and research activities," Professor Lee said.

The report is available at: http://www.audit.nsw.gov.au/news/volume-two-2015-focusing-on-universities



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