Insurance launches campus rebuild

by Mike Isle

A $45 million earthquake insurance settlement has been made allowing work on significant campus improvements to begin at Lincoln University.

Lincoln University acting vice-chancellor, Professor Bruce McKenzie, said the finalisation of the insurance pay-out from damage sustained in the Canterbury earthquakes was in April but is listed in the university’s 2018 Annual Report’s financial statements.

It would allow prioritised campus rebuild projects to get underway, such as new science facilities, he said.

He also said the benefits of Refreshing Lincoln, the agenda of change and financial discipline that commenced at Lincoln University in 2016 and resulted in a better performing institution in 2017, continued into 2018.

“The university had a better than expected financial result, the result of good enrolment numbers, successful research funding bids, and operational restraint.

“Tauira (students) continue to be at the heart of the institution, and it has been pleasing to see that 2018 concluded with our enrolment targets met and student satisfaction measures on track.

“We are also in the strongest financial position in Lincoln’s history, with cash reserves, including the insurance settlement, now in excess of $80m and group equity now $265m,” Professor McKenzie said.