ANU Revises Budget Deficit, Raising Staff Concerns

Australian National University has reduced its projected 2024 budget deficit from $200 million to $140 million, but staff remain skeptical. The unexpected $60 million adjustment has intensified concerns that financial issues are being exaggerated to justify a major restructure and cost-cutting initiative.

The university has been facing financial struggles for several years, with budget deficits ranging from $117 million to $162 million in recent times. The current vice chancellor took charge in January 2024, inheriting a cumulative budget deficit exceeding $400 million, largely due to challenges that intensified during the pandemic.

The cost-cutting plan includes reducing $250 million in expenses, with $100 million in staff-related costs and $150 million in other expenditures. However, despite five change management initiatives, only $13 million in ongoing salary savings have been made, alongside $43.1 million in reduced non-staff costs.

While management sees the revised deficit as a sign of progress from cost-saving measures, some staff believe the figures are being manipulated to push through structural changes. A union-led vote of no confidence in the leadership will conclude soon, highlighting growing dissatisfaction within the university community.

Source: Australian Financial Review, PSNews