Batchelor Institute reduces operations deficit to $214,000 compared to $2.7m in 2019

The Batchelor Institute has reduced its deficit significantly, according to its latest annual report.

THE Batchelor Institute has recorded a net operating deficit of $214,000, compared to a net operating deficit of $2.7m reported in 2019.

The Institute’s annual report, published on Wednesday, showed revenue decreased by $3m in comparison to the previous year and expenses decreased by $5.5m.

The overall cash position of the Batchelor Institute decreased by $800,000 due to payments of 2019 related redundancies in 2020 and lower receipts from the Commonwealth Government.

Ghungalu and Yiman man and Batchelor Institute chief executive Mick Gooda, who was appointed to the role in early September, said the improvement in the Batchelor Institute’s financial performance amid the challenges of the Covid-19 pandemic were due to fiscal measures and strategic and sustainable decision making.

Batchelor Institute chief executive Mick Gooda.

“Batchelor Institute’s strong financial position is an excellent outcome, considering the overall revenue in 2020 was $3 million less than in 2019, mostly due to a reduction in Commonwealth Government funding as a result of the suspension of teaching from March 2020 to June 2020, as a precaution to reduce the risk of transmission of Covid-19,” he said.

“Batchelor Institute’s students mostly live in rural and remote areas, so suspension of face-to-face teaching to keep our families and communities safe, had a financial impact, yet we still delivered an improvement.

“Covid-19 has created unprecedented challenges for Batchelor Institute, so to record an improvement in our financial position is an outstanding effort by our staff.”

Originally published as Batchelor Institute reduces operations deficit to $214,000 compared to $2.7m in 2019