Annual Report 2008 - Central Queensland University

A healthy liquidity
helps us develop
and serve our many
communities and
stakeholders.
Financial
Viability &
Summary
Strategic Plan 2007-2011
Aim: CQU will redefine and refine partnerships between
international, global, domestic and regional ventures.
Summary of Financial Performance 2008
CQUniversity recorded a surplus for the year of $6.5 million compared to a
$5.5 million loss reported in 2007. This was brought about by a number of factors,
many of which were one-off.
There were increases made to some Commonwealth grants and funding arrangements
including one-off contributions such as the Better Universities Renewal Fund as
well as a change in the way universities are funded with the introduction of the 95%
safety net on the Commonwealth Grant funding. The University received additional
revenue for sub-leases of University premises and benefitted from some increased
investment income on invested cash and management fees received by the University
from C Management Services Pty Ltd (its wholly-owned international education
management subsidiary; see the New CMS, below).
Reporting against the
Strategic Plan
2007-2011:
Organisational Academic
Focus, Sustainability,
Capacity and
Competitiveness
The University recorded a drop in full fee paying student revenue of $24.67
million. This is due to the further decline in International Students being taught by
CQUniversity in Australia and the winding down of all the overseas campuses.
A reduction in expenditure of more than $18million was also attained, including
savings achieved as the result of University-wide restructuring and reduced
Employee Benefits of $13.1 million (staffing went from 1366 FTE in May 2007 to
1045 FTE by the end of 2008) a reduction in Management Fees paid in relation to
full fee paying international students of $12.3 million and an increase of $8.2 million
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