Universities and grammar schools: 2016 results of financial audits (Report 18: 2016–17)
Queensland's universities and schools face a continual challenge to shape their business and position themselves to remain sustainable. These challenges impact on the education sector's financial performance, sustainability, and current financial position.
This report summarises the results of our financial audits of the seven Queensland public universities and their controlled entities, the eight Queensland grammar schools, and a small number of other education-specific entities with a financial year end of 31 December. It provides an overview of their finances at 31 December 2016 and of the financial accounting issues that arose during the audits.
This year we also report on cost management practices operating at the seven universities, and on important income and cost drivers across the university and grammar school sectors.