CDU records $62m surplus, promises investment in campuses, facilities

Charles Darwin University has recorded a $62m surplus for 2021, up almost $20m from the previous year.

CHARLES Darwin University has recorded a $62m surplus for 2021, up almost $20m from the previous year.

Once capital grants relating to the development of the Education and Community Precinct in the Darwin CBD were accounted for, the university’s operational surplus was $16m.

CDU Vice-Chancellor Scott Bowman said the cash would allow CDU to invest in upgrading campuses, new facilities and expanded course delivery as well as students and staff.

“We’re focused on investing the surplus generated in the past two years into our people, infrastructure and corporate systems,” he said.

Charles Darwin University vice-chancellor Scott Bowman with Chief Minister Natasha Fyles .. ‘the surplus would allow CDU to invest in upgrading campuses, new facilities and expanded course delivery’. Picture: Floss Adams.

However, Prof Bowman said while the surplus from continuing operations was an excellent result, CDU’s core operating revenue had declined by 2.5 per cent due to lower international student numbers and reductions in vocational education and training.

Prof Bowman said CDU’s new five year strategic plan would have a strong focus on financial investment in initiatives and projects of strategic importance such as international student growth.

“The pandemic impacted the number of international students being able to enter Australia, which hit the university sector hard, that’s why we’re focused on a massive student recruitment exercise this year to fill our city campus by 2024.”

Despite a 1.4 per cent drop in total student enrolments, there was an increase in First Nations students at CDU, with 594 more Indigenous students studying across higher education and VET.