Strong financial result for University of Adelaide

Wednesday, 30 May 2007

The University of Adelaide has recorded a strong financial result for 2006, with an operating surplus of $35.4 million.

"The strong result for 2006 contributes to our goal of achieving sustainable financial growth and has enabled the University to reinvest in its students, staff and facilities," said University Vice-Chancellor and President Professor James McWha.

"Through this, we are able to build on the quality of our learning, teaching and research.

"More scholarships for students, salary increases for staff, and improved facilities and working conditions are just some of the wide range of initiatives funded in 2006.

"Our North Terrace Development Strategy - an ambitious $150 million capital works program to upgrade and replace ageing infrastructure across the North Terrace Campus - is well underway, with significant results already achieved for the benefit of our staff, students, and members of the wider community."

The University spent $27.3 million on its capital works program in 2006. Major items included:

• $13.9m on improvements to teaching and research areas, such as:
  
  • $3.7m on the North Terrace Development Strategy (representing the first stage of the $150m project);
    
  • $3.3m to complete the co-location of Reproductive Health on Frome Road, Adelaide;
    
  • $1.1m (part of an overall $30m commitment) towards the development of the Wine Innovation Cluster building, a new centre for wine innovation, research and development;
    
  • $1.1m on the refurbishment of teaching areas in the Napier Building (an $8m upgrade in total);
    
  • $835,000 on general teaching area upgrades
• $3.3m on core infrastructure, including $426,000 on improvements to disabled access and $334,000 on upgrades to parks and grounds irrigation equipment;
  
• $1.2m on student services, including $713,000 on upgrades to student amenities and $550,000 on audio visual and IT infrastructure;
  
• $545,000 on conservation of historic Urrbrae House, Waite Campus;
  
• $426,000 on conservation management plans for other heritage-listed buildings.
  

Other key figures from 2006 include:
total student numbers rising to nearly 20,000, including an increase of 11% in the total number of international students;
an increase of research income of 11% from 2005 to $114 million; and
an increase in net assets of 5%.

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