06 May 2011
Strong financial results
RMIT University has further strengthened its financial situation, recording a consolidated surplus of $78.6 million in 2010.
The University's Annual Report, tabled in State Parliament, shows that the University increased revenue to $806.6 million from $746.9 million in 2010 from 2009*. For the consolidated group, revenue increased to $869.4 million from $813.1 million.
RMIT Vice-Chancellor and President, Professor Margaret Gardner AO, said: "RMIT is building excellence in teaching, learning and research, while maintaining strong financial outcomes and high levels of investment in facilities, information technology and new staff.
"This has allowed the University to continue investment in its $600 million capital works program."
Highlights from 2010 include:
- In December, the University adopted its new Strategic Plan to 2015. Transforming the Future commits RMIT to being a global university of technology and design.
- Capital expenditure was $194.6 million in 2010 compared to $140.7 million in 2009. The Francis Ormond Building, the original home of RMIT, Info Corner at Swanston and Latrobe streets, and the Emily McPherson Building were reopened after major refurbishment. Construction commenced for the Swanston Academic Building, RMIT's largest ever development.
- RMIT Vietnam's success has continued, with student numbers increasing by 15 per cent to almost 6,000, coinciding with the 10th anniversary of RMIT's campus in Ho Chi Minh City.
- RMIT's commitment to promoting equity and diversity among its students has continued. During 2010 the University awarded more than $7 million in scholarships to 1,783 recipients.
*excluding the effect of income received from the Commonwealth for deferred superannuation benefits.