The university's operating deficit at the end of 2020 was $15.5 million - a significant $34 million decrease on the $49.5 million deficit forecast in June last year.

The positive financial outcome was one of many for CSU in the report, which also highlighted strong growth in domestic student enrolments, sector-leading graduate employment outcomes, and high rates of Indigenous and low socio-economic status student enrolments.

CSU's Interim Vice-Chancellor, Professor John Germov, said while 2020 had been a difficult year for the higher education sector, the university remained on track to return to a balanced budget by the end of 2021.

"The budget remediation measures started in 2020 as part of our Sustainable Futures program are, at times, difficult, especially the loss of some of our staff," Professor Germov said.

"They are also necessary, and have helped Charles Sturt University embed an operating model across our courses and campuses that is viable, market-responsive and drives academic and research excellence.

"The success of the changes we're implementing will be reflected in our soon-to-be-tabled 2020 Annual Report and will ensure Charles Sturt remains Australia's leading regional university for a long time to come."

The report also showed CSU was one of only five NSW universities to achieve enrolment of more than 20 per cent of domestic students of low socio-economic status.

The strong results in the report drew praise from stakeholders across the university's footprint.

There are a range of projects undertaken or led by the university which will reap huge benefits for regional Australia including the $8 million Drought Resilience Adoption and Innovation Hub at the University's Wagga Wagga campus, which will be bolstered by an additional $11.9 million from partners; the $66 million Stage 2 expansion of the University's Port Macquarie campus, recently opened by NSW Premier, The Hon Ms Gladys Berejiklian; and embedding future cohorts in the School of Rural Medicine at the University's Orange campus.

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