Otago Polytechnic aims to more than triple the amount of
funding it gets from research and enterprise as it seeks to
diversify its income base, the polytechnic's research and
enterprise director Alistair Regan says.
Mr Regan said over a "number of years" the polytechnic wanted
to see the proportion of funding it received from research
and enterprise grow from the 2%-3% it stood at now, to 10% of
Increasing research and enterprise activities would add to
the learning opportunities for students, help keep the
polytechnic engaged with the latest developments in business
and diversify its income.
"At the moment, we are too reliant on the Tertiary Education
Commission and to have a more diversified income base would
clearly be a bonus," he said.
The polytechnic had already made progress on increasing the
funding it received from research and enterprise.
For instance, in this year's performance-based research fund
(PBRF) round, polytechnic staff had submitted more than 100
research portfolios, compared with 69 in the previous funding
round in 2006.
This would likely see the amount of money the polytechnic
receive from the PBRF rise from $695,000 last year to more
than a $1 million next year.
Gains in enterprise had also been achieved this year. The
polytechnic had confirmed two projects through the Ministry
of Science and Innovation technology transfer voucher scheme,
which included a $722,000 wind turbine project with
To increase income further, Mr Regan said he would get a
greater percentage of the polytechnic's staff and students
involved in research and enterprise activities.
Surplus exceeds $2.5million
The Otago Polytechnic recorded an operating surplus of more
than $2.5 million for the year until the end of May, $649,000
better than budgeted.
In a financial report for the year until May, tabled at the
Otago Polytechnic Council meeting yesterday, polytechnic
chief executive Phil Ker said much of the reason why its
surplus was greater than budgeted was due to timing.
The report also revealed a total of 3450.8 equivalent
full-time students (EFTS) had enrolled at the polytechnic as
of May 31, 19.1 students better than budgeted.
Mr Ker said enrolments were on track to meet budgeted levels
for the full year.
Revenue at $34,653,000 was $575,000 better than budgeted and
spending at $32,112,000 was $74,000 less than budgeted.
Capital expenditure stood at $3.3 million, which was $475,000
more than budgeted.