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Flinders University of South Australia (FUSA)

Financial statistics
Net result: $14 million
Australian Government financial assistance: $323 million
Number of FTEs: 2 081
Number of students (EFTSLs): 16 104
Research revenue: $66 million

Significant events and transactions
  • In late 2015, the $63 million plaza redevelopment and student hub reached technical completion, opening in semester 1, 2016.
  • The Lincoln Marine Science Centre, valued at $6 million, was transferred to the SA Government for $0 consideration.

Financial statement opinion

Financial controls opinion
Key issues:
  • No probity plan for major infrastructure projects
  • Supervisor review of payroll payments not performed with sufficient regularity
  • Insufficient process to detect and follow up all employees who fail to submit leave forms
  • A need to strengthen segregation of duties in a number of systems including fixed assets, revenue and payroll