RMIT seeks cash for software woes.

Australasian Business Intelligence, December, 2002

Dec 22, 2002 (The Australian - ABIX via COMTEX)

There has been a $A26m turnaround in the financial performance of Victoria's RMIT University in 12 months. The tertiary institution, which has announced a likely $A5m loss for 2002, will seek an advance from the Australian Government on its operating cash budget for 2003. It will also sell $A50m worth of property assets. These measures are part of a three-year plan to reverse its financial position, which has slipped into a loss 12 months after predicting it would record a $A21m surplus for 2002. RMIT University spent $A18.5m on establishing its computerised administration system after encountering unforeseen problems. The 2003 budget incorporates another $A15.9m provision for the system's implementation. It is...

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