Does anyone know the financial position of UNSW? They posted a $87.4 million deficit for 2008 (I assume that’s the financial year), with a $6.5 million deficit for 2007. You can’t exactly lose roughly $93 million in two years, when you’re a university, and still be solid in the books right?
I’m not saying UNSW is about to go under, but am more interested if the university is being propped up by the government or is just scraping by. Or did it have a massive amount of funds prior to the GFC that it could draw on? I know that USyd posted a $160 million deficit for 2008, but this was after a $187 million surplus the year before, with a $1.15 billion investment portfolio, and a yearly revenue of $1.3 billion.
Gee it would be funny if UNSW went bankrupt.
Not really. But there would be a party and Manning Bar for sure.