Telford Rural Polytechnic had a bumper 2007 financially, but yesterday's annual meeting heard the political uncertainty over its long-term future had left a sour taste.
It reported a $2.17 million surplus for the year ending December 31, 2007, about $115,000 better than its 2006 result. Telford budgeted for a $1.06 million profit. But expected investment income doubled and higher demand for on-campus training and reduced overheads helped create the better-than-predicted bottom line.
Chairman Dave Yardley, who was re-elected unopposed, said the school's strong financial position and record student numbers were great news, but there was still work to be done to clearly define what lies ahead.
In his annual report, Mr Yardley said a tertiary review was generally reasonable, but it ‘‘creates difficulties'' for places like Telford, which are specialised providers that had developed national delivery capabilities over the years that met the training expectations of landbased industry stakeholders.
‘‘To replicate Telford's capability across a large number of regional polytechnics, in my opinion, would be unnecessary duplication of provision and a senseless waste of resources that would ultimately result in poorer quality outcomes and a consequent rundown in provision to the detriment of the agricultural industry as a whole.''
Feedback and consultation gave strong backing for Telford to be classed as a specialist leading provider of land-based training and it was this approach the council had been ‘‘vigorously promoting'' to tertiary education officials.
There were similar tones from chief executive Jonathan Walmisley who, in his annual report, said 2007 was an excellent year when talking about student pass rates and satisfaction and meeting stakeholders' needs.
But, ‘‘regrettably'', its role in the new-look tertiary framework was not finalised. Moves to cement that role will have to continue this year, he said.
He went as far as to say 2007 had been dominated by the implications of the tertiary education reforms.
But Mr Walmisley said Telford had continued to achieve a high standard of performance across a wide range of activities.
‘‘This happens, not by accident, but because of the commitment and passion of our staff to ensure the delivery of relevant and efficient education and training to our students... 2007 brought its challenges and it is the way we worked through these that has enabled our success.''
The biggest item of capital expenditure was the $512,443 Telford paid for a block of five flats in central Balclutha, while construction of a new on-campus hostel, valued at $192,924, dominated spending.
Telford boasts a healthy financial future with its assets exceeding its liabilities by $7.71 million and with the majority of this being in cash and bank investments.
In other developments at the annual meeting, Murray Brass was re-elected deputy chairman.
Justin Geddes was elected to join the chief executive's performance appraisal committee.
The remuneration for the entire council will stay as is, with Mr Yardley pocketing $21,000, Mr Brass $5000 and councillors to be paid $180 for each subcommittee meeting and $300 for each council meeting.
