THE University of New England will deliver a fourth consecutive structural surplus in 2014, while delivering a record $35 million in capital investment in on-campus facilities and infrastructure and continued growth in employment.
The University’s 2014-16 Budget and Business Plan, approved at Friday’s general meeting of UNE Council, projects a $19 million budget surplus for 2014.
UNE Chancellor John Watkins said the level of detail and planning contained in the 2014-16 budget and business plan, his first as Chancellor, was very satisfying.
“The budget projects student load to increase at a moderate rate over the next three years, allowing for greater employment opportunities and increasing investment on-campus at the same time as strengthening the university’s financial position,” Mr Watkins said.
“The business plan lays out a three-year plan for UNE to not only weather the global uncertainties in higher education but also set the university up to capitalise on opportunities in Asia and the global online education market.”
UNE Vice-Chancellor Professor Jim Barber said the improving budgetary position over the next three years is a direct result of the hard work and difficult decisions made by council over the past five.
“This budget is a vindication of the strategic approach of the university to focus on growing margin and volume online and means we are now in the enviable position to be able to reinvest back into our core business strengths – our facilities, our research, our staff and our students,” Prof Barber said.
“The 2014 budget allocates $2.4 million for new strategic initiatives and more than $20 million in capital investment spending, over and above any special grants fund applications, while the University also plans to increase the workforce through 2014 by an additional 108 full-time equivalent positions.
“All this at a time when most other universities are cutting spending and laying-off hundreds of staff.”
Prof Barber said the next three years would present many strategic challenges and opportunities.
“We are making every effort to remain competitive in the complex and competitive regulatory environment through innovation with, for example, open courseware, workforce planning, Asian & Pacific partnerships, and new learning models,” he said.
“It is clear the university will face significant challenges over the coming decade,” Prof Barber said.
“But the results of the past three years and the detailed planning contained in the new budget, mean we are in a far better position to face those challenges than we have been at any time in our past.”
