00:02Two years after the University of Tasmania scaled back its plans to shift from Sandy
00:07Bay to the Hobart CBD, an independent economist says UTAS is in financial trouble.
00:14Last week John Lawrence told a closed hearing of a state parliamentary inquiry the University's
00:20cash and other liquid assets have fallen from $530 million to $112 million.
00:26They've got plenty of assets, they're solvent, but they don't have a lot of usable assets
00:31and there is a danger that in the next few years that they will run into real strife.
00:38He also says UTAS has one of the highest debt levels of any Australian university.
00:43They currently have about $350 million of debt borrowing, green bonds, which is quite high
00:51for an entity that size.
00:52The union that represents UTAS staff says Tasmania's only university needs to rein in spending
00:59on executive salaries and new buildings.
01:01What we're seeing is a real underinvestment in staff and students and that's got to change.
01:07UTAS Finance Chief Ben Rose blames the COVID pandemic and government policy change for the
01:13university's tight finances.
01:15He says debt levels are close to the average for the sector and he expects UTAS to be financially
01:21sustainable by 2029.
01:23If you look at our results over the last couple of years from 2023 through to now, you'll see
01:28a steady rate of improvement and we do expect that to improve again this year.
01:31Mr Rose and other UTAS executives will give evidence to the parliamentary inquiry at an open
01:37hearing next week.
01:40Mr Rose and otherused
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