The University of Canterbury’s annual result proves that 2017 was a year where the University’s transformation and growth has gained significant momentum.
The University is on target to be operating within its means by 2019 without the additional Government support provided after the Canterbury earthquakes. I am also confident UC can cater for any increase in student numbers over and above normal growth that may result from the Government’s fees-free policy.
The University’s audited result for the year ended 31 December 2017 was a $5.3 million deficit. This is after recording significant costs in occupying its new Science and Engineering facilities and continuing building demolition and write-off costs as the University continues its post-earthquake transformation. These costs have been offset by additional tuition fee, research and sundry revenue. The result compares to the 2016 deficit of $1.8 million, and a budgeted operating deficit for 2017 of $9.1 million.
UC is an exciting place to be with so many new buildings, state-of-the-art labs and facilities open for teaching and learning.
We can celebrate the University’s performance in many areas where activity has surpassed pre-2010 levels. In 2017 UC welcomed more than 1000 full-time equivalent students in masters’ programmes and record numbers of doctoral students. International University rankings are highly competitive, and UC is proud to have held its 214th position in the QS World University Rankings, placing it in the top one percent of universities worldwide.
Enrolment numbers have seen steady growth with the number of full-fee paying international students exceeding 2010 levels, a record number of students enrolled in the College of Engineering | Te Rāngai Pūkaha, a record number of students who identify as Māori and record numbers of students in halls of residence.
The University still has work to do to return to sustainable operating surpluses but significant progress has been made in maximising revenues and reducing and containing operating costs.
The University has put considerable effort into increasing student numbers, with an indication of continued improvements in 2018 enrolments to date.
The University has adopted a budget for 2018 that shows an operating deficit of $7.9 million, which includes the one-off costs of moving staff and activities around the campus while refurbishment and new building is completed, with consequent short-term rental costs. The University continues to be confident that it can absorb this loss as it rebuilds student numbers and associated tuition revenue in 2018 and 2019.
Dr Rod Carr
Vice-Chancellor | Tumu Whakarae