An educators' union is demanding the University of Wollongong funnel more money into staffing after the institution reported a surplus above $8 million last year, after cuts to pay and jobs.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
The university's annual report for 2021 indicates a surplus of $8.3 million, up from a deficit of almost $218 million the previous year.
NTEU Wollongong president Professor Fiona Probyn-Rapsey said staff members took voluntary redundancies, casual positions were lost, staff took pay cuts of 10 per cent and workers entered a purchased leave scheme as a result of the university's poor financial position.
"I think a lot of staff are looking at this, along with the whole sector... at all the pain we've been through for universities to come out with surplus," Professor Probyn-Rapsey said.
A UOW spokesperson said the university had made its financial decisions in response to the COVID-19 pandemic and welcomed the "modest surplus".
"The result was achieved in part through the reductions in staff salary costs agreed to by staff and unions, reductions in discretionary spending, additional research funding, and the sale of assets," the spokesperson said.
"It is important to note that when you exclude one-off items such as the sale of assets, UOW reports an underlying deficit for 2021."
The spokesperson said the university made its financial decisions guided by core objectives to "maintain the capacity to deliver and strengthen the student experience and support our frontline teaching and research staff".
With the surplus, Professor Probyn-Rapsey said the university now needed to reinvest in staffing.
"We've been reporting chronic overwork and workload issues for the last two years and that needs to be alleviated by employing more staff with better conditions," Professor Probyn-Rapsey said.
The UOW spokesperson said the university had brought forward a pay increase and another would come in June under the enterprise agreement, but its approach to staffing levels and pay would contiue
"The university's approach to staffing levels and pay will continue to be considered within the medium and long term financial capacity of the University - giving consideration to potential risks," the spokesperson said.
Professor Probyn-Rapsey said the operation of universities also needed an overhaul so they invested in teaching and research rather than private investments, pointing to the $169 million UOW lost when it terminated a student accommodation deal with private enterprise.
"We really need a whole systemic change in the way universities are managed and they need to be more responsive to what the community expects," she said.
UOW's annual report shows that the university's income grew by 3.7 per cent to reach $814.6 million in 2021, despite a 14 per cent decline in revenue from student tuition as a result of the COVID pandemic.
But research and contract revenue grew 12 per cent from the previous year, and returns on the university's investment portfolio were higher than previous years.
To read more stories, download the Illawarra Mercury news app in the Apple Store or Google Play.
Natalie Croxon
Reporter at the Illawarra Mercury, mostly covering social affairs. Previously of the Bendigo Advertiser, Northern Daily Leader and Quirindi Advocate. Our Watch award winner.
Reporter at the Illawarra Mercury, mostly covering social affairs. Previously of the Bendigo Advertiser, Northern Daily Leader and Quirindi Advocate. Our Watch award winner.
