2009 financial information

In September 2010, the TEC released educational performance information about all tertiary education organisations.

Following on from this, financial information about the 31 tertiary education institutions is now also available.

Surpluses

TEI financial performance improved markedly in 2009 with an overall surplus of 4.3% from a revenue base of about $4.2 billion ($2.1 billion of which is government funding). 

All sub-sectors surpluses were well above the 3% TEC guideline, with ITPs reporting a surplus of 6.3%, universities a surplus of 3.4% and wananga a surplus of 7.0%.

These improvements in the financial performance are principally due to an overall increase in student enrolments and government funding, and an improved management of TEI’s financal performance.  

Student enrolments (by EFTS categories)

From 2007 to 2009 the total number of equivalent full time students (EFTS) (including SAC delivered EFTS, international EFTS and others EFTS) delivered at TEIs increased 5% (from 232,573 to 243,463).

SAC delivered EFTS, constituting 87% of total EFTS, increased 6.0%, (from 199,645 in 2007 to 211,580 in 2009) with the majority of the growth incurring in the 2009 year.

Government funding

TEIs’ government funding increased 13.2% from $1,868 million  in 2007 to $2,114 million in 2009. 

Student component funding (SAC and TEOC), remaining the largest source of government funding at 77.6% ($1,640 million) of total government funding, increased 8.0% from $1,519 million in 2007 to $1,640 million in 2009. 

PBRF and other TEC research contracts increased 15.3% from 2007 ($215 million) to 2009 ($248 million), and now constitute 11.7% of government funding to TEIs.

Other government funding allocated by the TEC increased 86.2% from $109 million in 2007 to $203 million in 2009.

Over the same period, other sources of government funding (e.g. funding for ITO provision) decreased slightly (1%) from $25 million in 2007 to $23 million in 2009.

Non-government revenue

Between 2007 and 2009 there was a 6.4% (from $1,845 million  to $2,063 million) increase in non-government revenue, which includes income from domestic student fees ($746 million in 2009) and international student fees ($331 million in 2009), non-government research income ($478 million in 2009), and other sources ($508 million in 2009).

Total revenue

TEIs’ total revenue (including non-government funding and government funding) increased 12.5% from $3,713 million in 2007 to $4,177 million in 2009, with government funding amounting to 50.6% of total 2009 revenue. The increase in total revenue has been steady across all subsectors. 

TEI net assets

TEI net assets also increased between 2007 and 2009 by 11.1% (from $6,784 million to $7,540 million). This increase has been due to growth in surplus, assets revaluations and increased Crown investment. 

Universities

Universities’ surpluses before abnormals decreased from $96.8 million in 2007 to $74.8 million in 2008, and increased to $98 million in 2009.

From 2007 to 2009 universities’ government funding increased 12.6% (from $1.2 billion to $1.3 billion), non-government revenue 11.3% (from $1.5 billion to $1.7 billion), and universities’ net assets 8.3% (from $5.3 billion to $5.7 billion). 

The total number of EFTS delivered by the universities increased almost 8% (from 110,271 to 118,952) from 2007 to 2009.

Further details and tables on each university. 

Institutes of technology and polytechnics

Overall, between 2007 and 2009 ITPs’ surpluses before abnormals increased from $24.8 million to $70.6 million.

From 2007 to 2009 government funding to ITPs increased 11.1% (from $583 million to $648 million), non-government revenue increased 13.9% (from $328 million to $373 million), and ITPs’ net assets 16.1% (from $1.4 billion to $1.6 billion).

However, the total number of EFTS delivered by ITPs decreased 6.7% from 2007 to 2008, increased 7.5% from 2008 to 2009, resulting in an overall increase of 0.3% from 2007 to 2009.

Further details and tables on each ITP.

Wānanga

From 2007 to 2009 wānanga’s surpluses before abnormals increased from $4.7 million to $14.2 million.

From 2007 to 2009 government funding to wānanga increased 27.2% (from $133 million to $169 million), non-government revenue increased 17.8% (from $23 million to $27 million), and wānanga’s net assets 77.1% due to Treaty Settlements (from $123 million to $218 million).

The total number of EFTS delivered by wānanga increased 13.9% from 2007 to 2009.

Further details and tables on each wānanga.