Source: Radio New Zealand
Vocational Education Minister Penny Simmonds. RNZ / Angus Dreaver
The 10 newly-independent polytechnics have been kick-started with more than $325-million from their former owner, super-institute Te Pūkenga.
Vocational Education Minister Penny Simmonds said the organisations were recapitalised with sufficient funds to cover three months’ spending plus any ring-fenced funds they took with them when they were subsumed by Te Pūkenga, the NZ Institute of Skills and Technology.
“Some polytechnics had significant reserves going into Te Pūkenga, while others had significant debt. Each polytechnic received three months of operating expenditure, plus their original ring-fenced reserves (if applicable) plus any other restricted funds (if applicable),” she said.
Simmonds said five Industry Skills Boards had temporarily taken over seven work-based learning divisions of the mega-institute which were recapitalised with $62.7m.
She said the money would ensure financial viability and sustainability of training during the transition phase while the boards were temporarily accountable for work-based learning.
Simmonds said any remaining funds would be returned to the Crown after work-based learning moved to a tertiary education organisation such as a polytechnic or private training provider.
However, any previously agreed ring-fenced reserves would got to the tertiary education organisation.
Simmonds said the funding was arranged by Te Pūkenga and the Tertiary Education Commission.
Canterbury institute Ara received $80.8m, while the combined United/Manukau Institute of Technology received $52m, and Eastern Institute of Technology $34.5m.
The Open Polytechnic and Southern Institute of Technology each received more than $27m and Otago and Waikato more than $24m each.
Nelson-Marlborough received $22.6m, Toi Ohomai $20m, and Ucol $11m.
Among the former work-based learning divisions, Competenz received $20.9m, the Primary ITO $14m, EarnLearn $8.7m, Connexis and Careerforce more than $6m each, ServiceIQ $4m, and HITO $1.7m.
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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand
