TIL: the ANU is awash with #CASH:
“But here is the paradox: while education and staffing were cut, ANU’s financial wealth kept growing. By 2023, the university held over $2B in financial assets and recorded $3.4B in total net assets. It continued to run cash surpluses despite reporting accrual accounting deficits”

AND that the financial crisis making the news and resulting in over 450 staff losses and plans to close some faculties are a direct result of the application of accrual accounting. This is an accounting practice that is necessary to run a business responsible to shareholders — but CANNOT be applied to education institutions which have a different raison d’etre and report to society (via parliaments).

#Managerialism and #NeoClassicEconomics responsible for the #FailedGovernance of ANU is made worse by the #Council’s use of ANU funds in speculative and #RealEstate investments partly funded by borrowings (Debt). These #NeoLiberal Council forays in #Productivism and #Capitalism are NOT core business to Universities. Not only is this the Absolutely Wrong Governance model to run a Uni, but it is currently grossly #Mismanaged and noone is taking responsibility for this, least of all #JulieBishop the #Chancellor of ANU.

Take a break and read the article, it is well written and explains much of what is going on. Furthermore, it provides the reasons why #Bishop should go and a sorely needed change to #Governance processes and responsibilities. If #JasonClaiMP can’t see this he’s a #FailedMinister

Read more:

https://michaelwest.com.au/uni-finances-anu-and-the-commercialisation-of-higher-ed/

#AccrualAccounting #TertiaryEducation #ANU #JulieBishop #Auspol #EducationMinister #SaveOurUniversities #GovernanceReformsNow #InUnity #JoinYourUnionNow #SaveOurUniversities #SackUniCouncils #CollegiateGovernance

https://welcomewithdignity.org/additional-pathways-to-safety-must-not-come-at-the-expense-of-access-to-asylum-at-the-border/

#Title42 update: We are greatly dismayed by the expansion of funding for #ICE and #CBP, which are rife with #humanrights #abuses and #mismanaged funding. #Investment in our #communities and #humanewelcoming, rather than increased punishment and #incarceration for people and families seeking safety, will ensure a better future for all.

#Prevention better than excuses: Cities need to require #BehindTheMeter #microgrids, as our inability to eliminate #fossilfuels now, increases the power of wind, to knock down PG&E’s #mismanaged wires, which should have been undergrounded before the #NewNormal age of mega fires in the west, that caused politicians to moan about an unreliable #grid. #ClimateCrisis #CascadingCrisis #WeKnowWhatToDo

https://www.smdailyjournal.com/news/local/high-winds-knock-down-trees-power-lines/article_9b1474e2-c2ba-11ed-bbd5-b710e680447e.html