Aoraki Polytechnic's financial woes continue, with the
institution facing a potential deficit of more than $2 million
and more than 20% fewer students than forecast.
In a report for yesterday's polytechnic's council, acting
chief executive Alex Cabrera said falling numbers of
equivalent full-time students (Efts) were affecting its
financial performance, with the polytechnic forecasting a
$1.6 million deficit.
As of the end of July, Efts were 333 below the budgeted 1547,
but Mr Cabrera said there was a chance numbers could fall to
400 Efts below budget by the end of the year, which could
equate to a more than $2 million deficit.
''Operating expense restrictions will be put in place to
alleviate some of the impact,'' he said.
The latest figures come after Aoraki Polytechnic, which has
campuses in Timaru, Ashburton, Oamaru, Christchurch and
Dunedin, has faced a difficult few years, which included
running a $1.6 million deficit in 2011.
Mr Cabrera said student numbers in Dunedin were also tracking
below the budgeted 247.5 Efts for this year, with about 188
Efts now enrolled.
''The strong economy, low unemployment and demand for more
flexible educational delivery have contributed to us not
meeting our Efts targets for 2013,'' he said.
It was too early to say what the declines meant in terms of
jobs and courses offered next year.
''We need to take into consideration the environmental
factors ... as well as undertaking a detailed assessment of
business operations to better inform our targets for next
year,'' he said.