Wintec's annual report shows strong financial result

Wintec’s 2011 annual report shows a strong financial result due to increased student enrolment numbers and greater efficiencies.

Wintec Chief Executive Mark Flowers says: “In 2011 we focussed on increasing domestic and international student numbers; refurbishing and investing in buildings, facilities, and new technology; committing to more sophisticated teaching methods; and engaging more with our community and industry partners. “

“We gained traction with a number of initiatives, enabling us to achieve our goals and remain at the forefront of vocational education in New Zealand.”

Wintec’s financial position in 2011 showed a surplus of $4.2m before abnormal items such as land sales and adjustments to asset valuations.  The surplus is $3.4m after these items, which is 4.2% and over the 3% threshold set by Wintec’s monitoring agency, the Tertiary Education Commission.

Some highlights for 2011 included:

• Increase in international student numbers by 10% in a competitive export education market

• Increase in provision for students to engage in higher levels of study (especially at degree-level)

• Positive improvement in Maori student achievement including a 70% successful course completion rate for Maori students.

• Wintec’s youth strategy including success with the Waikato Trades Academy, Maori Trades Training and Youth Guarantee scheme

• The continuation of Wintec’s campus modernisation programme as well as major technology improvements

 

With close to 6,800 equivalent full-time students (EFTS) in 2011, Wintec  now offers 10 degree programmes, eight degree level programmes (graduate diplomas and certificates), and eight post-graduate qualifications. In 2011 Wintec provided education to 19,652 students.

Outgoing Wintec Chair Gordon Chesterman stated: “I am sure Wintec’s future is a good one.  There are still many ambitious projects in the pipeline but with the combination of sound governance and management, it will go from strength to strength.”

Mr Chesterman announced last year his resignation from the Wintec Council.  This took effect on 30 April, 2012.  Current Council member Mary Cave-Palmer is the acting Chair for the Wintec Council until an appointment is made by the Minister of Tertiary Education.