Fed Uni records $81 million loss

FEDERATION University Australia’s annual report shows the institution recorded an eighty-one-million-dollar deficit last year.

The annual report was tabled at Victorian Parliament earlier this month and a downward trend in student enrolments and changes to international student visa arrangements were cited as reasons for the loss.

The deficit is nearly double last year’s ($41 million), and is $28 million higher than the budgeted deficit of $58 million.

“Our 2023 Annual Report highlights the challenges our university and the tertiary education sector face, which are particularly acute for regional universities,” said Federation University vice-chancellor and president, Professor Duncan Bentley.

“This underlines the importance of our Future Fed initiative which will transform the way we operate and ensure we can maintain a strong and sustainable university for future generations.”

The institution announced its Future Fed initiative in March which aims to bring Federation University back to an operating surplus by 2026.

Staff were invited to take part in a voluntary redundancy process but many have since rallied against the proposed cuts.

“The significant deficit recorded in 2023 does not impact on our robust plan to return to an operating surplus in 2026 which will allow

us to boost investment in the student experience, technology, high quality teaching and research, as well as the expansion of our Co-operative Education Model,” said Mr Bentley.