Government funding to the University of Otago increased by 13% from 2008 to 2011, in part because of increases in student numbers and in per-student funding.
The increase was shown in figures released by Tertiary Education Commission (TEC) revealing the financial performance of each of New Zealand’s eight universities, with the University of Otago coming second behind the University of Auckland in most categories. Funding to the University of Otago for tuition increased from $233.8 million in 2008 to $265.2 million in 2011.
In the same period, overall funding to universities increased 13.5% from $1.23 billion to $1.39 billion. University of Otago director of financial services Grant McKenzie said the university was satisfied with its overall financial performance, which met or exceeded all TEC performance indicators.
“[The TEC figures showed] the University of Otago is New Zealand’s second-largest university according to most financial measures of size.”
The increase in Government funding came about because of increasing student numbers, increases in per-student funding and increased enrolments in a number of high-cost areas where the funding provided per student was higher than average, he said.
Minister for Tertiary Education, Skills and Employment Steven Joyce said the country’s universities were performing well financially, which reflected increasing Government investment.
“The increased investment in universities has been achieved in very tight fiscal circumstances and has resulted in stronger fiscal and education performances over the last four years,” Mr Joyce said.