When the surplus is looked at alongside a strong asset base, little debt and a strong cash flow, it must be concluded that Lincoln University is in a sound financial position," he says.
"The contribution from Government funding to the University's total income was 22 percent, the lowest of any New Zealand tertiary education institution and this reflects the University's diversified income streams."
For a second consecutive year the University experienced growth in student numbers and on an EFTS (Equivalent Full-time Student) basis the roll increased by 10 percent in 2003 to 3382. "This increase in student enrolments reflects the contributions of staff, senior management and a sound strategic vision," says Professor Field.
Other good news for Lincoln University contained in the 2003 Annual Report is an "impressive" 30 percent increase in external research revenue to $8.9 million. "The University has consistently increased external research revenue earnings every year for the past 10 years and earnings in the past five years have more than doubled," says Professor Field.
Research earnings per academic staff member in 2003 were $46,167, a 37 percent increase on 2002.
When researchers from Lincoln University's wholly owned subsidiary Lincoln Ventures Ltd are brought into the equation, the figure rises to research earnings of $69, 625 per staff member.
"This places the University among New Zealand's top research-based institutions," says Professor Field.
A particular research highlight of 2003 was the establishment of the $25 million National Centre for Advanced Bio-Protection Technologies on the campus. This centre focuses on world-class science applied to anticipate and meet the pest management and biosecurity needs of New Zealand's land-based industries and eco-systems. Major partners with Lincoln are AgResearch Ltd, Crop and Food Research and Massey University.
On the teaching side, the Report records the National Tertiary Teaching Awards won by Lincoln staff members Dr Pip Lynch and Dr Chris Gan. From 34 nominations from tertiary institutions countrywide, Lincoln won two of the 10 awards made in 2003 under this Government sponsored programme that encourages good practice in teaching. Lincoln University was the only institution to win more than one award.
In his overview of the year Professor Field says that future forecasts show the University building on its strong 2003 financial result.
SNAP VIEW
- $2.1 million University group operating surplus.
- Enrolments (EFTS) up 10%.
- Second consecutive year rolls up.
- External research revenue up 30%. On basis of research earnings per staff member Lincoln is one of NZ's top research-based institutions.
- Government funding contribution to Lincoln 22% of total income, one of the lowest ratios of any NZ tertiary institution.
- Lincoln won two of the 10 National Tertiary Teaching Awards. Only institution to win two.
For further information contact
Ian Collins, Journalist, Lincoln University, Canterbury
Tel: (03) 3252811 ext 8549.
Email: Ian Collins