This report consolidates independent analysis that provides transparency to the Parliament with respect to Australian National University's (ANU’s) financial management, and makes findings and recommendations where appropriate.

Under the Higher Education Standards Framework (Threshold Standards) 2021, Australian universities are required to be financially sustainable. Sustainable financial management allows universities to support quality teaching and research.
In October 2024, the ANU commenced implementation of Renew ANU, to restructure the university and reduce ANU’s annual operating budget by $250 million by January 2026. The ANU Council is responsible for promoting the university’s purposes, financial sustainability, and proper use and management of public resources.

Key findings

• The Renew ANU savings target was approved by ANU Council in August 2024 without sufficient understanding of the problem, the options available or implementation risks.
• ANU Council approved the $250 million savings target without clear evidence it was needed, achievable, urgently required or likely to have the intended impact.
• Council’s decision-making should have considered additional information, options, and perspectives.

Key recommendations

• Where an Accountable Authority is a collective decision-making body, operating protocols should ensure major change plans are subject to appropriate scrutiny before approval, including the evidence base, alternative options, feedback from meaningful consultation with those directly affected, and risks.
• The preparation of non-audited financial information should be based on an approved methodology and oversight.
• Council members should seek further information or assurance from management where targets are not met.