Government invests $50 million in AUT University

aut-university

Tue Aug 21 2007 12:00:00 GMT+1200 (New Zealand Standard Time)

Government invests $50 million in AUT University

Tuesday, 21 August 2007, 12:07 am
Press Release: AUT University

AUT University is grateful to the government for its investment of $50 million, announced today. The investment acknowledges the university's distinctive contribution and, by rectifying a decades-old capital imbalance, will enhance that contribution further.

"AUT's financial case for a capital injection was compelling," said Vice-Chancellor, Derek McCormack. "The University is very efficient operationally, consistently achieving an annual financial surplus. But our balance sheet has, for decades, constrained our development. This investment by the government goes a considerable way to addressing that."

The investment of $50 million will ensure that AUT can continue to develop as a vibrant and energetic university focused on research-led teaching. The investment will support the further development of the University's distinctive approach through the development of a research culture and capability characterised as multi-disciplinary, weighted towards applied outcomes and informed by significant engagement with stakeholders.

The University's other priorities of reducing debt and improving facilities will also be supported through this $50 million investment.

Chancellor, Sir Paul Reeves said, "The AUT Council is gratified that the contribution this University makes is understood and valued by the government. We are excited about the future opportunities for development that this investment will enable."

"We have worked very hard with what little we have," added Derek McCormack. "This investment assures a sustainable future for the University, supporting our contribution to the social and economic development of the Auckland region and the country as a whole."

ENDS

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