New analysis by The Australia Institute reveals there is no financial crisis at the Australian National University.
Audited accounts show that the ANU generated a $90 million surplus in 2024 and increased the value of its net assets.
However, the ANU's leadership declared an 'underlying operating deficit' of $142.5 million in 2024.
This was by dismissing a lot of the revenue items recognised by the Auditor.
Analysis shows that to get from the audited surplus of $89.9 million to an unaudited deficit of $142.5 million, $232.4 million revenue has been left unaccounted for.
"If an organisation – as opposed to its auditors - chooses to ignore nearly one quarter of a billion dollars in revenue then the organisation's financial result will appear one quarter of a billion dollars worse," said Dr Richard Denniss, co-CEO of The Australia Institute.
"Our paper outlines items the auditor included, and that the ANU leadership rejected. It shows any argument that the ANU is in an unhealthy financial position is flimsy.
"If we believe the auditor, there is no crisis at the ANU.
"To be clear, as a government owned, not-for-profit entity, the ANU is under no pressure to maximise its profits so that it can maximise dividends paid to shareholders.
"On the contrary, when the ANU made a surplus of $89.9 million in 2024 it did so by spending less money on its students, staff and community than it received.
"It is not at all clear why a not-for-profit entity owned by the Commonwealth government would be seeking to generate a surplus, but in the last two years alone the ANU has made combined surpluses of nearly $250m, and, in turn, the audited accounts of the ANU show the organisation is stockpiling revenue from governments, students and philanthropy for some unstated future purpose.
"Knowing the true position of the ANU's finances is critically important, for the taxpayers who own the ANU, for the management of the ANU, and for the students and staff and other interested members of the community."
Read the full report below.
