ANU’s Ian Young is letting it be known where they’re losing money in the wake of the mid-year economic forecast (MYEFO).
the promised growth in ‘Sustainable Research Excellence’ (SRE) funding, which supports the indirect costs of research, will be significantly slowed. The expected uplift in SRE funds will not take place in 2013 as promised, and I estimate a $500 million cut to the program over the next four years.
This will have an impact on all universities, but most acutely on strong research institutions. ANU, like many other universities, has already factored the SRE funding into our budget for next year. We expect the decision will cost the ANU budget an approximate $3.4 million in 2013, and at least $10 million in 2014.
Also the loss of Facilitation Funding, associated with the Governments Compacts, will see $270 million cut from the sector, costing ANU around $4.7 million in 2014.