University finances on track for 2002

Monday, 11 November 2002

The University of Adelaide is on track to achieve an operating surplus in 2002 and repay its debt.

After incurring a $6.36 million loss for 2001, the University has turned its finances around through restructuring and amalgamations.

"Although we have faced some difficulties on the expenditure side, the University's balance sheet is strong with more than $500 million of net assets," says Paul Duldig, Executive Director Finance and Infrastructure.

"I would like to reassure the University community, particularly students considering enrolling next year, that the University's finances are under control. We have been here for 128 years and intend to be here for a lot longer," Duldig said.

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