The Southern Institute of Technology has confirmed a surplus of $2.86 million for last year.
Its annual report was tabled at its annual meeting last night, Stuff reported.
Southern Institute of Technology chairman Peter Heenan, in his annual report, said 97% of last year's graduates were in employment or further study.
An independent survey had indicated 92% of graduates were satisfied with SIT programmes.
Chief executive Penny Simmonds yesterday said SIT's surplus again exceeded the Government guideline of 3% of turnover. SIT also had $35million in liquid funds and $117million in net assets.
Student numbers had increased from 2017 primarily because of the integration of the Music and Audio Institute of New Zealand.
School leaver numbers from outside Southland were down 200.
The Government's introduction of free fees throughout the country had nullified SIT's point of difference, although 345 students in Invercargill had taken up the Mayor Tim Shadbolt accommodation bursary.
The bursaries are worth $100 a week for private accommodation or free shared accommodation in a SIT apartment.
