In 2020 UCOL plans to keep up its investment approach, designed to meet the needs of the Region’s learners and
employers.
UCOL Council Chair Ben Vanderkolk said UCOL’s 2020 Budget includes increased revenue of $4.5m and a capital expenditure
programme of $8.5m. Work includes seismic upgrades and renovations, new software and teaching resources, and the
creation of a Centre of Healthcare and Social Assistance. UCOL has an annual revenue of $50.6m and total assets of
$130m, of which $107m is equity.
Mr Vanderkolk says the Institute is healthy and in a positive position. “Financially UCOL is in a strong position,
staying in the low risk category of the Tertiary Education Commission’s monitoring framework. UCOL has a three year
Investment Plan approved, and will be funded for more students from both the Tertiary Education Commission and the
Ministry of Education in 2020. This is a credit to UCOL’s track record and gives a sound framework to make budget
decisions.
UCOL needs to be flexible to respond and deliver on what’s ahead. “We fully expect innovative thinking and new ideas and
projects to continue. We appreciate the work that is being done by the UCOL team. UCOL is one of the top performers in
the Institute of Technology and Polytechnic sector.”
UCOL’s planned financial deficit for 2019 of up to $1m is due to re-investment in facilities and resources, and lower
revenue than anticipated.
Mr Vanderkolk said UCOL Council will continue to lead UCOL through the government reforms of tertiary education, and
ensure UCOL is well represented. “UCOL is in a steady state, and ready for future state. We have a constructive budget
that shows progress and confidence.”