Uni's finances back on track
Wednesday, 21 May 2003
The University of 亚洲色吧 ended the 2002 financial year on a sound footing showing an operating surplus of $12.4 million, according to audited figures released today. This significant surplus more than recovers the $6.4 million operating deficit of 2001 and demonstrates the successful efforts of the management team and all staff.
In announcing the university's 2002 financial performance, Vice- Chancellor Professor James McWha said the university's net assets grew by $58 million to $618 million, a 10.4 per cent growth.
"In addition we significantly reduced our current liabilities last year by paying out a $20 million loan, leaving us debt free," Professor McWha said.
He added that, "as with all universities, part of the surplus relates to pre-committed funds, such as capital funds. However, this is still a sound result."
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