The University of Canterbury’s 2018 results signal a new period of consolidation and growth, with a pleasing surplus, increased student numbers, newly opened learning facilities and buildings, and increased research revenue.
The University of Canterbury |Te Whare Wānanga o Waitaha 2018 results signal a new period of consolidation and growth, with a pleasing surplus, increased student numbers, newly opened learning facilities and buildings, and increased research revenue.
The University’s audited result for the year ended 31 December 2018 coincides with the recent appointment of new Vice Chancellor | Tumu Whakarae Professor Cheryl de la Rey and Chancellor | Tumu Kaunihera Sue McCormack.
Professor De la Rey says she is pleased to see UC on a trajectory to success across all the areas of achievement expected from a world-class institution.
“We begin 2019 with vibrant student numbers, exciting new facilities for learning, internationally leading research and a pleasing balance sheet as well. It is very exciting to join the University at this time and to make my contribution to the wonderful work that has been done so far to deliver UC beyond recovery and very much into growth and further development.”
“The 2018 results are a credit to the University of Canterbury Council, Senior Management Team and every single staff member of our organisation,” Professor De la Rey says. “Thanks to my predecessor Dr Rod Carr and former Chancellor Dr John Wood for their effective leadership of the University.”
It was a year of highlights for the University. Prime Minister Rt Hon Jacinda Ardern opened Stage 1 of the $220 million Rutherford Regional Science and Innovation Centre – the Ernest Rutherford building, named for renowned UC alumnus Lord Rutherford. The building includes specialist teaching and research laboratories for Physics, Astronomy, Chemistry, Geology, Geography and Biological Sciences. Construction of Stage 2 is well under way, the innovative multi-storey timber-framed building named for UC alumna and renowned astronomer Beatrice Tinsley.
The blessing of the new Rehua building, which opened for teaching in January 2019, marked another special moment in UC’s recovery. Rehua houses the College of Education, Health and Human Development | Te Rāngai Ako me te Hauora, the Centre for Entrepreneurship | Te Pokapū Rakahinonga and the Executive Development Programme of the College of Business and Law | Te Rāngai Umanga me te Ture.
In 2018 UC recovered student numbers with 14,070 EFTS* overall (an increase of 7.5% on 2017), with increases across domestic, international and postgraduate students.
Financially, the University achieved a $9.6 million surplus, compared to the 2017 deficit of $5.3m, and a budgeted operating deficit for 2018 of $7.9m. The surplus was buoyed by a one-off insurance payment for earthquake damage. The University also received the final $50m of support from the Crown, having achieved the necessary milestones and targets required. This post-earthquake support of up to $260m of the University’s building programme concluded in 2018. The University remains grateful for the assistance from the Crown and, through that support, its acknowledgement of the role UC plays in the city of Christchurch and the economy, as one of the region’s largest employers.
*Equivalent Full-time Students
-University of Canterbury