CQUni bounces back from hard times posting $23m surplus

CENTRAL Queensland University is one of only two to have posted a positive financial result, after a difficult year in 2012.

A report from the Queensland Audit Office states that CQUni returned surplus of $23million, the first surplus for the university in four years.

Vice-Chancellor Scott Bowman said the university had bounced back from some hard times.

"We had a really tough year last year," Professor Bowman said.

"But a lot of it was about putting in new resources and facilities.

"We've really made some really big changes and (have) turned it around."

A number of major changes had been made in recent years, including the merger with TAFE, which was due to take effect on July 1 this year, he said.

"But we also last year had a big repositioning and changed the way we did our international business and we downsized our staff," he said.

"It was a shame (to move staff on), but it put us in a very good financial position."

Unlike many universities in the country, CQUni was expanding, not contracting.

"In the last four or five years we've been one of the fastest-growing universities in Australia," he said.



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