Page 83 - DUT Annual Report 2024

Tuition fees and other income increased by 11.65% from R1 115.15 million in 2023 to R1 245.08 million in 2024. The tuition fee increase is attributable to the curriculum subject selection and related fee combinations that the students select in their progressive study years. Subject fees increased by 4.5% and the student headcount went from 32 561 in 2023 to 34 495 students in 2024. Investment income comprises interest earned on short-term investments and as well as dividends received on long-term investments. Recurrent investment income increased by 13.90% from R431.37 million in 2023 to R491.33 million in 2024. The increases in the repo rate during the year and the increased cash on hand attributed to the increase in investment income from short-term investments. Recurrent income from contracts and sales of goods and services decreased from R74.33 million in 2023 to R63.10 million in 2024. The decrease in income from contracts (research and other activities) can be largely attributed to decreased funding.
Expenditure Composition
Figure 29: Expenditure Composition
Recurrent Council-controlled personnel costs constitute 54.26% (2023: 53.75%), other operating expenses constitute 43.28% (2023: 43.57%) while depreciation and amortisation represent 2.46% (2023: 2.68%) of recurrent total expenditure. Recurrent Council-controlled and specifically-funded activities restricted, expenditure increased by 4.82% from R2 666.32 million in 2023 to R2 794.81 million in 2024.
Personnel Costs – Academic and Other Staff
Personnel costs increased to R1 447.03 million (2023: R1 378.53m). The increase is partly attributable to the adjustment in the gross salaries of 4.5.% (2023: 5.4%) for the year under review.
Council-Controlled Ratio of Staff Costs to Recurrent Income
Recurrent income is defined as a sum of state appropriation as well as tuition and related fees. The ratio of staff costs to recurrent income is 55.78% (2023: 55.09%).
Post-retirement benefits consist of the following: • Pension:
Members who transferred from the AIPF (government pension fund) to NTRF in 1994 are entitled to minimum defined benefits, which are guaranteed upon normal retirement age (60 years). This is a closed scheme.
• Medical Aid:
The Post-Retirement Medical Aid Scheme of the university applies to eligible members who are former Technikon Natal staff who entered the medical aid scheme before 1 January 2000. No benefit is payable upon withdrawal. The scheme currently has 65 employed and 183 retired members.
DUT ANNUAL REPORT 2024
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