Part 1 Executive Summary

Overview
Key findings
Recommendations

Part 2 Introduction

Why did we do the audit and what did the audit cover?
Overview of RMIT University
Recent audit on implementation of RMIT University’s Academic Management System

Part 3 Governance, and strategic and business planning

RMIT Council
Strategic and business planning

Part 4 RMIT’s current financial position

Part 5 Specific issues impacting on RMIT’s financial position

Government financial assistance
Fees and charges revenue
Income from research activities
Costs other than academic salaries
Vocational education and training (TAFE)
Higher Education
Debt
Casual labour
RMIT’s capital expenditure program
Property portfolio
Overall comment

Part 6 Performance against budget, 2001 and 2002

RMIT’s performance against 2001 budget
RMIT’s performance against 2002 budget

Part 7 RMIT’s 2003 budget and financial outlook

RMIT’s 2003 budget
Performance to 31 March 2003 against budget
Absence of financial and budget forecasts for 2004 and subsequent years

Part 8 Budget management processes

Part 9 Issues arising from the 2002 financial statement audit

Appendix A Management responses provided by RMIT

Appendix B Correspondence initiating the review

Appendix C Entities controlled by RMIT