The Otago Polytechnic has achieved its highest operating surplus in a decade, climbing $2.26 million into the black for the last operating year. The surplus comes despite a difficult economic climate and a reduction in core government support for polytechnics in recent times.
Chief Executive Phil Ker told the ODT that the surplus was the result of "necessary, but very difficult decisions" made in the last few years. These difficult decisions included a series of staff redundancies, with approximately 20 staff losing their jobs in 2008, and a further 23 being let go last year.
The Polytech’s financial fortunes have varied across the last decade, with the current large surplus contrasting with several years of deficits.
Best result in a decade for Polytech
