Operating surplus for 2007
La Trobe University records operating surplus for financial year 2007: AA rating affirmed.
La Trobe University and its consolidated entities have recorded an operating surplus of $1.46 million for the year ended 31 December 2007. This result compares with an operating loss of $7.4 million for 2006 and is due to improved revenue streams and effective management of costs.
“The university has been able to achieve a significant financial turnaround during the course of 2007,” said La Trobe Chief Financial Officer, Peter Gould.
“Our original budget estimate for 2007 included major write downs and we planned for a modest deficit, but improved revenue from a number of sources has brought La Trobe back into the black” said Mr Gould.
Combined operating revenue for the university was $440 million, up from $395 million, and increase of 11 per cent.
Income from Australian Government Grants in 2007 was $166.8 million up 9.8 per cent on 2006, consulting and contracts was $34.8 million up 33.7 per cent and overseas full fee-paying student income and domestic student course income was $78.3 million, up 9.5 per cent.
In December, Standard and Poors rating service affirmed its AA ratings on La Trobe University. The assessment reflected the university’s solid reputation for teaching and quality research in areas of excellence such as social sciences, humanities and science.
Vice Chancellor Paul Johnson said he was pleased with the financial progress the University had made in the last year.
“Sound management of the university’s finances is a crucial part of the Strategic Plan I launched for the next 5 years, and I would like to thank our staff and students for contributing to this solid result,” he said.
La Trobe University’s main campus is located in Bundoora in Melbourne’s north. It is a multi-campus institution with major educational facilities in regional Victoria at Bendigo, Albury-Wodonga, Mildura, Shepparton and Beechworth plus a Melbourne city campus. In 2007, there were over 28,000 students and 2500 staff.
La Trobe’s Financial Statements for 2007 were presented to the Victorian Parliament on 17 April 2008.
Media inquiries: Mark Pearce, Media and Communication Manager, La Trobe University
T: 03 9479 5246 M: 0423 783 756