Aoraki posts $2.5m extra for 2008

In tough economic times, Aoraki Polytechnic has still recorded a $2.5 million surplus for 2008.

This result is up nearly $1m on 2007's $1.6m surplus.

The polytech has $24m in reserves, and in 2008 this earned $1.87m in interest.

Government grants were also $1.6m more than anticipated, according to the annual report.

Aoraki Council chairwoman Robin Kilworth said the surplus provided "a pathway forward".

"The recently announced surplus of $2.5m creates an exciting opportunity and builds on Aoraki's reputation for providing education and training which is needed in our region," Ms Kilworth said.

Surplus-reinvestment programmes over recent years had enhanced campuses in Ashburton and Oamaru and provided for a new carpentry workshop and additional classrooms in Timaru, she said.

"The investment in these facilities along with new training programmes in areas such as radio, television and presenting; ecological building design and information system development all help to support the changing demands of our regional workforce."

An additional benefit of having a positive financial result was Aoraki's ability to provide incentive support for students, she said.

"In 2008, 86 secondary school scholarships and 63 free-fee trade courses encouraged the young people in our region to participate in tertiary education.

Acting chief executive Ben Lee was also pleased with the positive result.

"In achieving the positive result in 2008, Aoraki Polytechnic educated and trained more than 15,000 individuals in and out of our region.

"I am also pleased with the high number of students who started training with us and who successfully completed that training," he said.

- © Fairfax NZ News