The Australia Institute analysed the accounts of the University of Newcastle.

It found that despite claims of a $16.3 million deficit, the audited accounts show a $61.3 million surplus, and net assets worth more than $1.8 billion at the end of 2024, up $150 million from the previous year.

The university’s Vice-Chancellor dismissed the conclusion in our analysis that there was no financial crisis at the University of Newcastle.

Australia Institute co-CEO Dr Richard Denniss responded in a letter to the Editor of the Newcastle Herald.