31 May 2000 Lincoln posts million dollar surplus for past year

Lincoln University has announced an end-of-year surplus of $1.6 million for 1999, a figure significantly ahead of its budget estimate of $0.4 million.

"Achieving an operating surplus of $1.6 million is evidence of a balanced approach to development and careful financial management at all levels of the University," says Vice-Chancellor Dr Frank Wood.

Not only was the consolidated budget surplus exceeded, but the University also achieved a balance between revenue and costs for teaching for the first time in many years. In percentage terms, the University achieved a 6% increase in income per EFTS (Equivalent Fulltime Student). A significant proportion of the savings was achieved through reduced overheads and efficiencies in fixed resource use. In addition, the University was able to consolidate funds from a research trust.

Dr Wood says the University's level of student recruitment was particularly pleasing with Lincoln achieving an increase in domestic first-year enrolments of 16%, the highest in the New Zealand university sector.

"Also pleasing was the 6% increase in the number of postgraduate EFTS and the 14% increase in external research income. Given the traditionally strong research culture and the renewed focus on research, these results emphasise the success of the repositioning strategies and new initiatives," he says.

"Lincoln University has had an exceptional past year," says Dr Wood. "Much of the credit for this success must go to the dedication and enthusiasm of the University staff, the University Council, employers, business partners and the community.

"The 1999 performance is a statement about both our collective efforts as a University and the unique role that Lincoln plays in New Zealand tertiary education."

Dr Wood looks forward to enhancing the reputation of the University in this current year and beyond. He believes that Lincoln is in a favourable position to capitalise on opportunities that are presented.

Ian Collins, Journalist, Lincoln University, Canterbury, New Zealand