Solution to boys' college debt

Marlborough Boys' College is working hard to repay their $1.3 million government loan, college board chairman Phil Robinson says.

The loan would be discussed at several meetings this week called to talk about options to raise more money for the school, Mr Robinson said. The meetings would include Kaikoura MP Colin King, but Mr Robinson would not discuss the possible options before the meetings.

The meetings were more like brainstorming sessions with people outside the board to raise funds for general running costs.

"I've got an open mind [about the meetings]," Mr Robinson said.

"We can keep doing what we're doing at the moment – we've got a lot of support from the old boys' network – so we can carry on as we are, but it'll be good to see what else we can do," he said.

The college was not suffering or struggling to run and had made loan repayments, but "to get all the nice stuff for the boys we're having to do the extra work".

The Government bailed out the college last year after it ran up a debt of more than $1.7 million through a failed attempt to establish an international school in China, financial ineptitude and a culture of overspending.

Mr King said one option he had discussed with Mr Robinson was to approach Education Minister Anne Tolley for help. But more work had to be done before then.

Mr Robinson said the school was working hard to repay the $100,000 a year required and was working to an "extremely tight" budget put in place by Neil Sinclair, the limited statutory manager appointed in 2008 to manage the college finances.

The college regained control of its finances in December.

It was also important to reduce costs wherever possible because the college was expecting fewer students during the next few years, he said.

Boys' College principal Wayne Hegarty said the school needed to be in the best state possible to prove to the minister the school was on track.

- The Marlborough Express

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