Drivers of Change - Financial Sustainability

TRANSCRIPT:

Drivers of Change – Financial Sustainability | RMIT University

AUDIO: Ambient music 

VISUAL: The RMIT logo opener transitions to a sketched mind map of the eight ‘Drivers of Change’. Focus is brought to the ‘Financial Sustainability’ section of the mind map

TEXT ON SCREEN: Financial sustainability – falling house prices – Higher Education demand on pause – alternatives in Higher Education. How do we navigate a disrupted Environment?

TITLE: Financial Sustainability: The changing drivers of cost, income and market share.

VISUAL: Tom Bentley, Executive Director of Policy, Strategy and Impact at RMIT, presents from a stage.

TOM: There’s a kind of growing squeeze and multiplying competing demand on national Government funding and funding sources.

TEXT ON SCREEN: Melbourne house prices have fallen for the first time since 2012.

TOM: The percentage of national Government income flowing to RMIT and other Universities will continue to decline. Our ability to diversify our income streams and our ability to work in different markets and with different partners is crucially important.

TEXT ON SCREEN: As Australian higher education grows, government funding has slowly reduced as a percentage of income.

2008:

Non Government = 39%

Government = 61%

2016:

Non Government = 42%

Government 58%

TEXT ON SCREEN: The gap in funding for research has been increasing.

VISUAL: Graph

TOM: The real costs of research are rising, just at the same time as the strategic importance and impact of applied research is growing.

TEXT ON SCREEN: We are seeing rapid growth in private and TAFE providers offering undergraduate degrees.

VISUAL: Graph

TEXT ON SCREEN: Challenges. How will RMIT navigate the changing cost pressures of a disrupted financial environment? How can we pursue demand-led growth opportunities while ensuring accessibility and value-for-money?

TOM: How will we navigate those changing cost pressures when we can expect a disrupted financial environment? And how do we pursue demand-led growth while also ensuring accessibility and value for money?

VISUAL: End sketch with text which reads:

Direction 1: Life changing experiences

-          1. Transformative experience

-          2. Shared pathways

Direction 2: Passion with purpose

-          3. Supporting and empowering our people

-          4. Managing resources for long-term value

Direction 3: Shaping the world

-          5. Research and innovation

-          6. Embed industry and enterprise

-          7. Global reach and outlook

VISUAL: RMIT logo slides in to end video.