In 2021/2022, despite the ongoing challenges caused by the COVID-19 pandemic, universities collectively reported a $1.5 billion budget surplus. This was slightly lower than the $1.7 billion annual average recorded in the five years (2015/2016 to 2019/2020) preceding the pandemic. All dollar figures in this release are expressed in 2022 constant dollars to factor in inflation and enable comparisons across time.
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