University records financial surplus
by Anonymous Author
Selwyn’s largest tertiary institute, Lincoln University, is celebrating its first financial surplus in a decade which it puts down to a ‘comprehensive ongoing programme of organisational change’.
Vice-Chancellor Professor Robin Pollard, said the excellent progress in returning Lincoln University to profitability is the result of a clear strategy, strong leadership, and sustained teamwork at every level of the organisation.
“In February 2016, a review jointly commissioned by the Tertiary Education Commission (TEC) and Lincoln University was announced to consider ways to ensure the University’s future. This was extremely useful in focussing minds,” he said.
The report entitled ‘Strategic Options Assessment’ was completed by EY (formerly Ernst & Young), and received by Lincoln University’s Council in mid-2016.
Vice-Chancellor Pollard said the ‘Refreshing Lincoln’ initiative began in August 2016 which addressed a number of the financial, academic and organisational issues raised in the EY report.
“We brought together a new executive leadership team in a short period of time and they have driven changes including implementing a new business model,” he said.
“There is still much work to be done but it is significant that at the end of 2016, for the first time in a decade, Lincoln University achieved a financial surplus before unusual items which the EY report predicted would not be achieved for at least another 10 years.”