Media Release

Tuesday, 27 November 2001

Adelaide University Vice-Chancellor Professor Cliff Blake has today announced a series of initiatives aimed at strengthening the University's position as one of Australia's foremost research and education institutions.

The initiatives include:

• a comprehensive budget strategy to restore the University's capital base and secure its financial future
• a stronger marketing effort to build on an increase of nearly 30% in total student applications for 2002
• a staff renewal strategy, incorporating a recruitment drive and voluntary early retirement scheme to reinvigorate the academic staff profile
• a new Graduate School for postgraduate research students
• new budget control measures
• a $20 million capital works program providing facilities for the new Elder School of Music, the School of Petroleum Engineering and Management, and a new Plant Biotechnology Centre
• a new University Planning Office with responsibility for strategic planning, resource allocation and capital management
• more partnership arrangements with overseas institutions to build on the University's position as the largest onshore provider of international education in South Australia.

Professor Blake said the measures were designed to strengthen the University's performance in key strategic areas and to ensure that it was positioned to meet new and emerging challenges.

"The budget strategy agreed today provides a comprehensive resolution of the financial issues faced by the University," he said. "The major issue was the emergence of a deficit of an estimated $3.2 million which will need to be carried over from the 2001 calendar year.

"Adelaide University's financial position is fundamentally sound. It has a strong balance sheet, but the issue of the declining surplus has been recognised for some time and reconfirmed and remphasised by Council and senior management. The 2002 Budget is the next step in addressing this challenge.

"The new financial management systems which we have put in place will ensure that the University achieves a balanced budget in 2002 and significant surpluses in subsequent years. This will enable us to rebuild our cash reserves and look to the future with confidence."

The budget strategy aims to boost revenue by attracting more fee- paying international students and reduce costs through tighter internal controls, an early voluntary retirement scheme, and amalgamation of some small schools/departments.

"Adelaide University is recognised nationally and internationally as one of Australia's great universities," Professor Blake. "The initiatives announced today ensure that the University will be better able to meet the challenges of the 21st century and continue to make a significant contribution to South Australia and the nation."