Sydney University records surplus as staff demand a share

The University of Sydney’s revenue grew by almost AU$1 billion (US$706 million) last year despite the pandemic, driven by increases in enrolments and property sales, while the University of New South Wales’s financial position also improved after heavy losses the year before, writes Jordan Baker for WA Today.

Sydney’s academic union, which is in pay negotiations with management, said the result showed the university could afford a pay rise for all staff, but the university said it was a one-off.

New South Wales universities’ annual reports were tabled in the state’s parliament on Monday 23 May. Sydney showed its operating revenue grew from AU$2.6 billion to AU$3.5 billion from 2020 to 2021, and an operating surplus of more than AU$1 billion. Its underlying surplus was AU$454 million.
Full report on the WA Today site