ANNUAL REPORT 2014 - University of Waikato · Annual Report 2014 3 Vice-Chancellor’s Overview In...

¨ANNUAL REPORT 2014

ICE MEN: The University of Waikato has been sending teams to Antarctica since the 1960s. Here are Mike Selby, Peter Kamp and the late Craig Law on a 1979 expedition.

1Annual Report 2014

Contents

Contents 1

Chancellor’sOverview 2

Vice-Chancellor’sOverview 3

2014AtaGlance 4

Highlights 6

50thCelebrations 8

OurPath 10

Education,CurriculumandStudentExperience 12

ResearchandExcellence 16

InnovationandCommercialisation 20

Internationalisation 24

PartnershipsandEngagement 28

Sustainability 32

Staff 36

Students 40

StatisticalInformation 44

AuditorGeneralOpinion 50

StatementofServicePerformance 54

EEOStatement 63

StudentServicesLevy 64

FinancialOverview2014 66

StatementofResponsibility 68

FinancialStatements 69

NotestotheFinancialStatements 75

CouncilandSeniorStaff 126

GlossaryofAbbreviationsandTerms 128

Notes 130

Chancellor’s Overview

2 The University of Waikato

IthasbeenasignificantyearfortheUniversityofWaikato;oneof

celebration,constructionandconsolidation.

CelebrationscentredontheUniversity’sgoldenjubilee,givingusan

opportunitytoreflectonhowfarwe’vecomeandhowwecancontinue

toimproveinwhatremainsachallengingtertiaryenvironment.

ConstructionbeganontheLawandManagementbuildinginthisyear

andweanticipatethatstaffandstudentswillbemakinggooddailyuse

ofitbeginning2016.

Inworldrankings,2014isthelasttimewewillappearintheTimes

HigherEducation(THE)Top100‘Under50’list.Thatranksus44outof

5,000eligibleuniversities,twopositionsbetterthanwhentherankings

werelastissuedin2013and14placeshigherthanthe2012ranking.

Wecontinuetoimpressinsubjects,withfivedisciplinessittingwithin

thetop150world-wide,butouroverallpositioninboththeTHEand

QSrankingshasslippedslightly.This,inpart,isduetotheriseandrise

ofuniversitiesinAsia.

ThissituationisaffectingallNewZealanduniversitiesandIhopethat

currentandfuturegovernmentsmakeinvestingintertiaryeducation

atoppriority,toenhancethecountry’sresearchanddevelopment,

keepuscompetitiveontheworldstage,andensureourgraduatesare

preparedforcareersathomeandoverseas.

Financially,theUniversityisverysound,andrateslow-riskunderthe

TertiaryEducationCommission’sMonitoringFramework.Wehavemet

thechallengetoincreasethenumberofpostgraduatestudentsstudying

withus,retentionratescontinuetoimproveandinthe2014global

satisfactionstudentsurvey,UniversityofWaikatostudentsranked

theiruniversityhigherthantheglobalaverageforoveralluniversity

experience,learningexperienceandstudentsupport.

Finally,onbehalfoftheUniversityofWaikatoCouncil,letme

acknowledgetheworkofourretiringVice-ChancellorProfessorRoy

Crawfordwhoisleavingusafter10years.ProfessorCrawfordhas

guidedtheUniversitythroughsomechallengingtimesandhashadto

makesometoughdecisions,buthisdedicationtotheUniversity’sfuture

well-beinghasbeenconstant.Wewishhimwell.

Rt Hon James Bolger ONZ

CHANCELLOR

3Annual Report 2014

Vice-Chancellor’s Overview

Inachallengingandrapidlychangingtertiaryenvironment,theUniversityofWaikatocontinuestodeliversoundresults.ChangesinthetertiaryenvironmentinternationallyareincreasingthepressureonuniversitiesfinanciallyandtheUniversityofWaikatorecognisestheneedtogeneratemorerevenuefromnon-governmentsources,includingthroughphilanthropyandthecommercialisationofintellectualproperty.ThereisalsoanincreasedemphasisontheScience,Technology,EngineeringandMathematicssubjectsandaclearmotivationfromthisUniversitytoproduceskilledgraduatestomeetthenation’ssocialandeconomicoutcomes.

TheUniversityofWaikatoisrespondingtoallthesechallenges.Weareaskingkeyquestionsofourselves,including:howwillourUniversityidentifyandshapeinnovationintothefuture;howwillitsustainandbuildstaffwhoareexpertsinresearchandteaching;whatdoesitmeantohaveastrongregionalpresence;andwhatinternationallinksoughttobesustainedandenhancedandhowwillthisbesupported?

Ourthree-yearCurriculumEnhancementProgramme(CEP)isworkingwitheachofthesixfacultiesandtheSchoolofMāori&PacificDevelopmenttoreviewwhatisbeingoffered–why,how,whenandwhere.AmajorobjectiveoftheCEPistodesignamorefuture-focusedcurriculumthatisresponsivetothechangingneedsofourstudentsandstakeholders.

Duringthecourseof2014,therehavebeenseveralmajorstaffchangesattheUniversityofWaikato,includingmydecisiontoretireattheendof2014.ProfessorNeilQuigleyhasbeenappointedasthenewVice-ChancellorandhewilltakeupthepositioninFebruary2015.DavidCraigcommencedasHeadofCommunicationsandExternalRelationsinmid-2014,SharonCalvertjoinedusasDirectorInternationalBusiness,andProfessorDonRosswasappointedtotakeoverasDeanofWaikatoManagementSchoolin2015.TheDeanofTePiringa-FacultyofLaw,ProfessorBradMorse,returnedtohisnativeCanadaattheendof2014;hisreplacementisduetobeannouncedearlyin2015.DuringtheyeartheDeanofScienceandEngineering,ProfessorBruceClarkson,wassecondedtotheroleofinterimdirectorforNewZealand’sBiologicalHeritageScienceChallenge,oneof10NationalScienceChallenges.

AfteraslowstartthenewLawandManagementbuildingisprogressingwell.Wecontinuetokeepacloseeyeonfinancesthroughouttheorganisationandwillagainsitcomfortablywithinthegovernment-prescribed3-5%surplusthreshold,maintainingourlow-riskstatuswithTEC.

WhileallNewZealanduniversitiesexperiencedtheimpactofaburgeoningAsiantertiaryeducationprovisionwithafallinrankingsin2014,theUniversityofWaikatohasfivesubjectareasrankedamongtheworld’sbest,withEducationleadingtheway,ranked46intheQSSubjectRankings.

Finally,ithasbeenaprivilegetoleadtheUniversityofWaikatofor10years.IthankallstafffortheirsupportandlookforwardtotheUniversity’s

continuedsuccessintheyearstocome.

Professor Roy Crawford

VICE-CHANCELLOR


OVERALL DOMESTIC STUDENT SATISFACTION93% AGREEMENTS WITH

INTERNATIONAL PARTNERS228

TOTAL STUDENTS BY GENDER

5,230

7,002

Male

Female

TOTAL STUDENTS IN FORMAL PROGRAMMES

FULL-TIME EQUIVALENT STAFF

STUDENTS UNDER 25

12,232

7,796

1,483

QUALIFICATIONS COMPLETED

3,520

HIGHER DEGREES COMPLETED

92

OTHER GRADUATE/POSTGRADUATE COMPLETIONS

968

INTERNATIONAL STAFF

335NUMBER OF STUDENTS WHO DID WORK PLACEMENTS OR PRACTICUMS

1,905

2014 At a Glance

5Annual Report 2014

OVERALL DOMESTIC STUDENT SATISFACTION

MILLION TOTAL INCOME FROM RESEARCH INSTITUTES$8.89MILLION

R+D REVENUE $46.9

5NUMBER OF SUBJECT AREAS IN TOP 150 IN THE WORLD – QS rankings

44IN THE WORLD OF UNIVERSITIES UNDER 50 – THE rankings

$29.2 MILLIONTOTAL VALUE OFTHE UNIVERSITY LIBRARY COLLECTION

All figures for 2014

THE NUMBER OF NZ MĀORI STUDENTS STUDYING AT WAIKATO IN 2014

USERS REFERRED FROM FACEBOOK TO WEBSITE

2,254

TOTAL EFTS BY ETHNICITY

76,491

th

Pākehā/EuropeanNew Zealand

Māori

Indian

Pacific

Other Asian Chinese Other2,237

4,4431,861

1,012

351

479

517


Highlights

Distinguished Alumni Awards

TheDistinguishedAlumniAwardscelebrateandhonourWaikato

alumniwhohavemadeoutstandingcontributionsintheircareers

andcommunities,takingintoaccountexcellenceintheprofessional,

cultural,creativeandvoluntarysectors.TheUniversitypresentedfour

awardsin2014–toWaikato-TainuiCEOParekawhiaMcLean;oneof

theUniversity’sfirstPacificgraduates,educationadvocateLeMamea

TaulapapaSefuluIoaneQSOwhomadethetripfromSamoato

receivehisaward;economistDrArthurGrimesandadventurerJamie

Fitzgerald.DAAfrompreviousyearsincludeNewZealandGovernor-

GeneralSirJerryMateparaeQSO,WalesrugbycoachWarrenGatland

OBE,formerTelecomCEOTheresaGattungandGoogleengineer

DrCraigNevill-Manning.

Recognition at graduation ceremonies

BusinessmanSirDrydenSpringandlitigationlawyerWarrenScotter,

pictured,wererecipientsofhonorarydoctoratesin2014.SirDryden

drovemajorindustryreformintheagriculturalsectorandhelpedbuild

internationalrelations.Hechairednumerousboardsduringhislong

careerandservedontheAPECBusinessAdvisoryCouncilforadecade.

SeniorpartneratHarknessHenry,WarrenScotterisknownforhis

dedicationtothelegalprofession.Hehascontributedmuchtothe

administrationoflawintheregionandhasbeenanunfailingsupporter

oftheFacultyofLaw.SirGrantHammond,judgeoftheNewZealand

CourtofAppealandPresidentoftheNewZealandLawCommission

hadhisDoctorofLawsconferredinrecognitionofhislegalscholarship

onthelawofremediesandintheareaoftheroleofthejudiciaryand

judicialboundaries.

Making the right connections

Aplaquewasunveiledoncampusduringtheyeartomark

NewZealand’sfirstconnectiontotheinternetandtheUniversity’s

involvementinthathistoricevent.Themanwhomadethatinitial

connectioninApril1989,JohnHoulker,wasamongtheguests.He

toldguestsatthegatheringtomarktheoccasionthattheUniversity

ofWaikato’sinnovativeoutlookhadgivenhimtheconfidenceto

pressaheadwiththeambitiousplan.Itwasariskybusiness,andwhile

thingsdidn’tgoexactlytoplan,heandotherswereabletopullitoff

withsomeinnovativeandunconventionallast-minutereconfiguration

ofthemodem.

7Annual Report 2014

Kīngitanga Day

NewZealanderoftheYearDrLanceO’Sullivanwasthekeynotespeaker

attheUniversity’s2014KīngitangaDay,whichhadleadershipasits

theme.TheKaitaia-basedGPandfatherofsevendrewacapacity

crowdtotheGallagherAcademyofPerformingArtsasheoutlinedthe

changeshehasinstigatedintheFarNorthtoraisethelevelofhealth

careforMāori.DrO’SullivansaiditwasimportantthatMāoriyouth

haveadesignedpathwaytoleadership,ratherthanhaveithappenby

chanceandtothatendhehassetuptheHaweaVercoeLeadership

ScholarshipforstudentsintheFarNorth.HaweaVercoe,aWaikato

Universityalumnus,diedin2009.

Scholarships

Tenhigh-achievingschoolleaverswereawardedGoldenJubilee

Scholarshipsfor2015,partoftheUniversity’sanniversaryyear.The

scholarships,worthupto$40,000,wereawardedforhighacademic

achievement,leadershippotentialandcommunitycitizenship.The

Universityalsointroducedascholarshipaimedathighachieving

internationalstudentsfromselectedAsiancountries.TheUniversity

ofWaikatoExcellenceScholarshipforAsiaprogrammewillprovide

upto$10,000forselectedstudents.ThesixResearchInstituteson

campusawardedatotalofsevendoctoralscholarshipsandsixmasters

scholarshipsforstudentsbeginningstudyin2014orearly2015toa

mixofdomesticandinternationalstudents.MeiCooper,pictured,isthe

recipientofaTKRIdoctoralscholarshiptostudysustainabletourism.

Golden Jubilee Visiting Professor

AspartoftheUniversity’s50thcelebrations,visitingProfessorDavid

BloomfromtheHarvardSchoolofPublicHealthspentamonthon

campusasGoldenJubileeVisitingDistinguishedProfessor.Aspecialistin

economicsanddemography,ProfessorBloomconsultsinternationallyto

publicandprivatesectororganisations,includingdivisionsoftheUN,the

WorldBank,theAsianDevelopmentBankandtheBillandMelindaGates

Foundation.Hegavetwopubliclectures,oneinWellington,theother

attheUniversity,andanotherfortheWaikatoDistrictHealthBoard,

coveringissuesaroundtheeconomicsofageingpopulationsandthe

interplaybetweendemographicsandeconomicwell-being.Healsomet

politicians,includingFinanceMinisterBillEnglish.ProfessorBloomhas

acceptedanadjunctprofessorpositionatWaikatoManagementSchool.


50th Celebrations

TheUniversityofWaikato’smottoisKoTeTangata–ForthePeople.

Itwasperhapsmoreappropriatein2014thaneverbeforeasstaff,

students,alumniandfriendscameoncampusforavarietyofevents,

stagedtocelebratetheUniversityofWaikato’sfirst50years.

CelebrationsincludedthelaunchofKo Te Tangata, a History of the

University of Waikato,writtenbyEmeritusProfessorNoelineAlcorn.

Morethan400peopleturnedupatthebeginningofthejubileeyear

tohearEmeritusProfessorAlcorngiveanabridgedhistoryofthe

Universityanditsnotableachievements.Shetouchedonthenumber

of“firsts”theUniversityhadachieved,leadingthewaywithWomen’s

Studies,theteachingoflawincontextandbeingthefirstuniversityto

amalgamatewithitslocalteachers’college.Itwasatthiseventthat

theVice-Chancellorannouncedthat10GoldenJubileeScholarships

worthupto$40,000wouldbeofferedtoschoolleaversforstudy

commencingin2015.

InMarch,PrimeMinisterJohnKeyunveiledacommemorativeplaqueto

celebrate50years,atafunctionattendedbyspecialguests,including

HamiltonmayorandlawalumnaJulieHardaker.Sheemphasisedthe

strongconnectionbetweentheUniversityandHamiltoncity,which

celebrated150yearsin2014.

ProfessorCrawfordhighlightedmanyoftheareas–suchasagriculture,

marinescience,law,managementandMāori–towhichtheUniversity

ofWaikatohascontributedinsignificantways.Hesaidtruesuccess

camefromthegraduatesandstaff,andthatwhiletheUniversity

celebrateditshistory,itwasalsolookingtothefutureandthe

opportunitiesahead.ProfessorCrawfordalsoannouncedthatFletcher

ConstructionhadbeenawardedthecontractforthenewLawand

Managementbuilding.Workbeganonthenewbuildinglaterin2014.

ThePrimeMinistersaiduniversitieswereaplacetochallengeideas,

comeupwithnewperspectivesandpushtheboundariesthrough

research,sayingthesewerethethingsthatwouldmakeusmore

developedasanation.MrKeyacknowledgedthepriorityWaikatohad

placedinfosteringopportunitiesforMāoriandPacificstudentsand

stressedtheimportanceofthisfortheregionandNewZealandoverall.

Economiststalkabout‘communiversity’–thepartnershipactivity

betweenuniversitiesandtheirhomecities–wheretheyworktogether

tomaximiseeconomicbenefitsinadditiontotheteachingandresearch

benefitsthatauniversityandothertertiaryinstitutesbring.Waikato

Universityfounderswerecommittedtoaddressingtheneedsand

prioritiesoftheregion.Thishascontinued,andeventhoughsome

peoplechoosetoleavetheregionfortertiarystudy,theyarenotforced

to–thereisaworld-classuniversityontheirdoorstep.

9Annual Report 2014

Initsfirst50years,theUniversityhasbecomeamajoremployerintheWaikatoregionandeveryjobattheUniversity

generatesanother1.26jobseitherintheregionorbeyond,accordingtothelatesteconomicimpactreport.Withstaffand

studentsjoiningusfromallovertheworld,theexpertiseoftheregionisgreatlyincreasedandtheculturaldiversityenhanced,

makingHamiltonamorecomplexandvibrantcity.Thefacilitiesoncampus,includingtheGallagherAcademyofPerforming

Arts,diverseteachingandlearningspacesandwell-maintainedsportsgrounds,maketheUniversityamagnetforexternal

conferences,tournamentsandpublicevents.

TheUniversityhelditsfirstCommunityOpenDayinMayaspartofitsjubileecelebrations,openingupthecampusforpeople

towanderaroundthegrounds,walkthroughbuildings,getanideaofthesomeofthesubjectsavailableandparticipatein

hands-onexperimentsandactivedisplays.

Thedayconcludedwithanafternoonteaforalumniandfriends.AmongtheattendeeswasPeterAllen,afoundationstudent

whowasthefirstgraduate–simplybyvirtueofhissurnamestartingwiththeletter‘A’.Hewasoneof19whograduated

in1967.In2014nearly4000qualificationswereconferredonmorethan3600studentsinAprilandOctoberceremoniesat

Claudelands,TeKohingaMāramaMaraeandinTauranga.

OurpresenceintheBayofPlentyandthetertiarypartnershipwasalsocelebratedin2014.AlthoughtheUniversityhasbeen

intheBayforjust25yearsithasmadeatellingimpressionandwillleadthedevelopmentofatertiarycampusindowntown

Taurangaintheyearsahead.TheTaurangaanniversaryeventwasattendedbymanyUniversityseniorleadershipstaffandkey

stakeholdersfromtheWaikatoandBayofPlentycommunities.

SowhileapermanentTaurangacampusisbeingplanned,peoplewhohadnotvisitedtheHamiltoncampusforalongtime

couldn’tfailtobeimpressedbythedevelopmentofthegrounds.AmongthereturneeswastheUniversity’sfirstgrounds

supervisorRonLycette,whoarrivedoncampusin1965andwassomewhatdisheartenedtofindpaddocksandcows,butwho

setthestageforwhatisarguablythemostbeautifultertiarycampusinNewZealandtoday.Aspartofthe50thcelebrations,

MrLycetteranhistoricaltoursofthegrounds,beginningeachtourwithaslideshowpresentationshowingthedevelopmentof

thegroundsoverthepast50years,earlyplantings,developmentofthelakes,andsomebefore-and-afterphotos.

AsculpturewascommissionedtocelebratethegoldenjubileeandsitsbetweenLBlockandtheStudentCentre.It’scalled“L

Blocks”(LbeingtheRomannumeralfor50)andcomprisessixredandblackL-shapedpieces,fivetoacknowledgethefirstfive

decades,withthesixthasymbolforthefuture.TheartistSophieHermannsaystheworkrepresents“whatwasherebefore,

wherewe’vecomefromandwherewearegoing”.


Our Path

THE ROLE OF THE UNIVERSITY OF WAIKATOConsistentwithitsstatutoryroleasaNewZealanduniversityundersection162oftheEducationAct1989,theUniversityofWaikatoisprimarilyconcernedwithmoreadvancedlearning,theprincipalaimbeingtodevelopintellectualindependence.TheUniversitydeliversresearchandteachingthatarecloselyinterdependent,withmostoftheteachingdonebypeoplewhoareactiveinresearch.TheUniversitymeetsinternationalstandardsofresearchandteaching,isarepositoryofknowledgeandexpertiseandacceptsaroleascriticandconscienceofsociety.

TheUniversityplansandoperatesinaccordancewithitsCharterandVision.ItsMission,asstatedinitsCharter,is‘Tocombinethecreationofknowledgethroughresearch,scholarshipandcreativeworkswiththedisseminationofknowledgethroughteaching,publicationandperformance’.

TheUniversity’smotto,KoTeTangata,symbolisesourcommitmenttoourroleundertheTreatyofWaitangi.Italsoemphasisestheroleofcollegialityandtheimportancethatweplaceonpeople.

University Planning and Accountability Framework

Legislation

Time Horizon (years)

Outcome Hierarchy

Institutional Planning and Accountability

Measures Relate To:Framework

Accountability

EDUCATION

ACT

PUBLIC

FINANCE

ACT

10-15

Outcomes

Impacts

Outputs

Processes

Inputs

5

3

1

+1

SystemLevel

Results

TertiaryEducationStrategy

PlanGuidance

GovtBudget

OAGAnnualAudit

Advice

Strategic PlansTheUniversity’smissionandroleincontributingtothetertiaryeducationsectorinNewZealand

» Economicdevelopment» Socialandcommunity» Environmentenhancement

Central government Agencies undertakeresearchandanalysisoflevelmeasuresacrossthesector

Minister setsoutgovernment’svisionandprioritiesfortertiaryeducation

Institutional performancecommitmentsandassociatedmeasureatoutputprocessandinputlevelsaspartofthepublicadministrationrequirementsofproposedplans

Each university reportsontheperformanceoftheinstitutioninitsAnnualReportcomparedtotheproposedoutcomesdescribedinthePlan

» Peoplewithcriticalthinkingskills

» Educatedandskilledworkforce

» Valuetosociety

» Studentachievement» Researchoutputs» Contributionof

academicstosociety

» Deliverhighqualityqualifications

» Pastoralcareofstudents» Highqualityresearch

» Funding» Students» Infrastructure» Staff

Institutionalobjectivesandprioritiesover10+years.Resourceplansprovideforroleandmission

Three year PlanStrategicdocument(s)thatsetoutplansandcommitmentsinthecontextof:

» Theoperatingenvironment

» GovernmentpolicyexpressedinTES

» Fundingenvironment» Threeyearrolling

forecastofactivities,revenueandexpenditure

Annual PlanAcademic/operatingunitplansAnnualbudgetandforecasts

Annual ReportDemonstratesaccountabilityInsitutionalKPIs;financialaccountability

Operating Unit Plans and Reports

11Annual Report 2014

University of Waikato Strategy 2014-2017

The University of Waikato deploys six inter-related strategic goals to support its high-level outcomes associated with its

contribution to the nation’s social, economic, environmental and cultural well-being.

TheStrategycompelstheUniversitytoinvestinthebestpeopleforroles,thebestfacilitiesforstudentsandstaffandthebestsystemsinordertooperateinasustainableway.Thisenablestheorganisationtoproducefuture-focusedgraduateswiththeskillsneededtomakeadifferenceintomorrow’ssociety,andtoconductresearchthathasthepowertochangetheworldforthebetter.

ThisformsthefoundationoftheStrategywiththesixactionsnotedbelow.

ACTION1: Providearelevant,future-focusedcurriculumandworld-classstudentexperience

ACTION2: Conductworld-leadingresearchanddevelopinnovativeresearchers

ACTION3: Strengthenengagementandpartnershipregionallyandnationally

ACTION4: Implementacomprehensiveprogrammeofinternationalisation

ACTION5: Embedacultureofinnovation,entrepreneurshipandleadershipacrosstheUniversity

ACTION6: EnsuresustainablepracticesinallaspectsUniversityactivity.

Weapplythefollowingvaluesinallouractivities

andoperations:

» PartnershipwithMāori/TūngātahimeteMāori

» Actingwithintegrity/Mahipono

» Celebratingdiversity/Whakanuiingāhuarahihou

» Promotingcreativity/Whakarewaitehiringaitemahara.

StandardsofentrancetotheUniversityaredetermined

andmonitoredbyaninter-universitybodyestablished

undertheEducationAct1989:theNewZealandVice-Chancellors’Committee(UniversitiesNewZealand),whichalsodeterminesandmonitorsstandardsforthequalityandaccreditationoftheUniversity’squalifications.

LikeallotherNewZealanduniversities,theUniversityofWaikatoissubjecttoregularandrigorousacademicauditbytheNewZealandUniversitiesAcademicAuditUnit.Theframeworksfortheseexternalauditssupportandenhancetheinstitution’s

ownongoingprogrammesofself-reviewandqualityassurance.

1

23

4

56

SUST

AIN

ABIL

ITY

INTERNATIONALISATION


Education, Curriculum and Student Experience

TOTAL EFTS IN 2014

9,904

The University is committed to ongoing improvements to its

curriculum so it continues to meet the needs of its students at

all levels, meet employer demand and contribute to research

that is relevant to the economic growth and well-being of all

New Zealanders.

Ahigh-levelteamiscurrentlyreviewingWaikato’scurriculumwith

aviewtorenewingprogrammeswherenecessarytoensurewe

remainforwardlookingandprovidewhatourstudents,staffand

stakeholdersneed,whilealsoenhancingthestudentexperience.

ThegroupisalsoreviewinghowtheUniversitydeliversitscourses,

includingblendedandfullyonlinedelivery,andhowthatmightfree

upmoretimeforresearch.

Thereviewerswilllookatprogrammedemandandworkwithstaffto

findwaystomakesomeofourofferingsdistinctivefromprogrammes

availableinotheruniversities.WorkisbeingledbyProgramme

DirectorRobynBakerundertheguidanceofDeputyVice-Chancellor

ProfessorAlisterJonesandProVice-ChancellorEducationProfessor

RobynLonghurst.

TheStrategypledgesthatwewillpromoteourinternationalprofile

bycontributingtoissuesofglobalimportanceandcelebratingour

teachingandresearchprogrammes.In2014,ProfessorLonghurst

andthenewDirectorofInternationalBusiness,SharonCalvert,were

NewZealand’srepresentativesataninternationaltertiaryconference

inBrazil.ProfessorLonghurstrepresentedallNewZealanduniversities

andledadiscussionontheinternationalisingofcurricula.

Alongsideourworkreviewingthecurriculumin2014,weprepared

fortheCycle5AcademicAuditsitevisitwhichwilltakeplacein

August2015.

Wehavealsocontinuedtointroducenewandinnovativeprogrammes

thatarerelevanttotoday’ssociety.Asanexample,theMasterof

TeachingandLearning,beingdeliveredwiththeUniversityofOtago,

isanintensive,one-yearprogrammeforthosewantingtoteachat

primaryorsecondarylevel.

ThePostgraduateCertificateinManagement(EmergentBusiness

Technologies),approvedduring2014,isthefirstofitskindfroma

NewZealanduniversity.Whenlaunched,itwillbedeliveredin

conjunctionwiththeExecutiveSubsidiaryofWestfälischeWilhelms-

UniversitätMünsterinGermany,andlooksattoday’stechnology

andtechnologicaladvancementsandwhatthatmeansforbusiness

andmanagers.

TheSchoolofPsychologylaunchedasuiteofonlinepostgraduate

qualificationsfocussingonclinicalanimalbehaviour.Accessibleto

studentsallovertheworldandtheonlyprogrammeofitskindin

TheUniversityhasNewZealand’sleadingtrafficandroadsafety(TARS)researchgroup.In2014TARSmovedintonewpremises,apurpose-builtlabthatnowhousestheAppliedCognitivePsychologygroup’spsychophysiologylab,theeye-trackinglabandthecountry’smostadvanceddrivingsimulator.ItwasTARSresearchthatinformedthe2014governmentdecisiontoreducethebloodalcohollimits.

DEGREES FOR GOOD BEHAVIOUR: The University of Waikato launched new postgraduate qualifications in

clinical animal behaviour in 2014, the only offerings of their kind in Australasia.¨


DISTRIBUTION OF MĀORI EFTS (EQUIVALENT FULL-TIME STUDENTS)

DISTRIBUTION OF PACIFIC EFTS

ORIGINS OF DOMESTIC STUDENTS thesouthernhemisphere,thequalificationswillalignwiththeBritish

AnimalBehaviourandTrainingCouncilstandards.

ThesecondcohortofstudentstocompletetheMBAprogramme

deliveredbytheWaikato-TainuiCollegeforResearchand

DevelopmentandWaikatoManagementSchool,graduatedin2014.

DesignedforMāorileaders,itcombinesacademicteachingwith

traditionalMāoriwaysoflearningandisanotherexampleofthe

Universityhelpingsocietyadapttochanges.The2014graduates

camefromarangeofroles,fromanHRmanageratalargeregional

secondaryschool,toaco-ordinatoratanorganisationpromoting

youthhealth,toafinancemanagerforamaraesociety.

TheUniversity’sStrategypromisestoworkinpartnershipwithMāori

andPacificpeoplestocontributetotheireducationalaspirations.

Examplesofthisareweekendscienceprogrammesrunspecificallyfor

groupsofMāorischoolsstudents–exposingthemtothebenefitsof

science,whilestartingtheirengagementwiththecampus.

TheUniversityhasastrongMāoristudentprofile,andtheproportion

ofEFTSgeneratedbyMāoristudentshasconsistentlybeenbetween

20-22%oftheUniversity’stotaldomesticstudentenrolments.In

termsofparticipationandachievementthereisstilladifferencein

passratesandcompletionratesbetweenMāoristudentsandallother

domesticstudents,althoughinthepastthreeyearsMāoripassrates

haveimprovedacrosssomefaculties.

TheUniversityhasacomprehensiveprogrammeforsupportingMāori

studentsandMāoristudentachievementcontinuestobeapriority.

From2015,studentrecruiterswillfocusonabroaderMāoristudent

marketofmaturestudentsandthosestudyingatotherinstitutions.

Therewasastrongfocusin2014onpan-Universitycollaboration

torenewtheMāoriPlanandtheCouncilapprovedthenewMāori

AdvancementPlaninDecember2014.TheUniversityaspirestobea

placewhereMāoristudentsexcelacademically,andarealsoprepared

fortheirrolesasfutureleadersintheircommunities,professions,and

insociety.TheplansignalstheUniversity’scommitmenttoraising

theachievementsofMāoristudentsforthebenefitofNewZealand

societyasawhole.

TheUniversityhasbeenfocusingonhigherlevelsofengagement,

andlong-termrelationshipswiththePacificcommunity.Itaimsto

increasethenumberofMinistry-FundedPacificstudentsstudyingat

undergraduateandpostgraduatelevels,targetingSouthAucklandand

theimmediateUniversitycatchmentareasofWaikato,BayofPlenty

andGisborne.

TheUniversityremainscommittedtostudentsgettingasmany

opportunitiesaspossibletotakepartinpracticums,placements

orinternships.In2014,atotalof1,905studentsgainedpractical

experienceintheirareaofstudy,helpedsolveproblems,and

Education, Curriculum and Student Experience cont.

FCMS95

FEDU501

SMPD185

FASS415

FMAN368

FLAW176

FSEN121

Waikato and Bay of Plenty

Inner and outer periphery

Auckland Region

Wellington Region

South IslandOverseas

7,701

1,500

409

150117307

FASS162

FLAW75

FMAN129

FEDU113

FCMS41

SMPD24

FSEN35


understoodhowthetheoryofcoursematerialisrelevantinthe

workingworld.Employersgainmotivatedstudentsandanopportunity

toworkcloselywithauniversitythatcaresaboutindustryfeedback.

In2014,theUniversitydecidedtodiscontinueitsuseoftheAUSSE

andPOSSEsurveysandadoptthei-graduateDomesticStudent

Barometersurveyinitsplace.

Inthe2014surveyof3,257domesticstudents,Waikatoscoredhighly

inlearning,living,supportandarrivaloncampus.Theresponserate

of37%wasmuchhigherthantheinternationalaverageof21%for

thesesurveys.Thesurveyfound93%ofWaikato’sdomesticstudents

wereeithersatisfiedorverysatisfiedoverallwiththeUniversity.A

similarsurveyofinternationalstudentsin2013founda94%overall

satisfactionrate.

TheUniversityisalsotakingalongerviewoncampusteachingand

learningspaces.TheStrategicBuildingsandInfrastructureSubgroup,

whichadvisestheCapitalAssetCommittee,isconsideringwhatthe

campusofthefutureneedstolooklike.

DOMESTIC STUDENTS SATISFIED WITH LEARNING EXPERIENCE

91%

NEW ZEALAND AID SCHOLARS IN 2014

141

New PVC taking the lead on key University review

It’sbeenabusyyearforProfessorRobynLonghurst,comingtogripswithhernewpositionasProVice-ChancellorEducation.“EssentiallyPVCEducationwasanewposition,replacingPVCTeachingandLearning,andwhenyouthinkaboutit,educationbasicallycoverseverythingtheUniversitydoes.Therewasalottogetmyheadaroundduringthefirstfewmonths,butI’mfeelingquitecomfortableintherolenow.”

ProfessorLonghurstisleading,withtheDeputyVice-ChancellorProfessorAlisterJones,theUniversity’sthree-yearCurriculumEnhancementProgramme(CEP)whichinvolvesaninnovativerethinkofalltheUniversity’sofferings.

“TheCEPisanopportunityforpeopletoconsiderwhattheUniversityneedsinthefuture–students,staffandstakeholders,”shesays.SheisworkingcloselywithmanystafftocollectinformationabouttheUniversity’sofferings,whichwillalsobeusefulfortheupcomingCyclefiveAudit.“It’snotoftenyougetanopportunitylikethis,tolookatprogrammescampus-wide,andeverypersononstaffhastheopportunitytocommentoraskquestionsthroughaspeciallydesignatedwebsite.”

ProfessorLonghurst’sPVCjobhasaninternalandexternalfocus,asalongwithbuildingUniversitycapacityandcapability,shehastolinkthattotheneedsofthewidercommunity,seekingoutandestablishingproductiverelationships,locally,nationallyandinternationally.

Herownteachingandresearchincultural/socialgeographyisworld-renowned.ShehasservedasChairoftheCommissiononGenderandGeographyoftheInternationalGeographicalUnionandEditor-in-ChiefofthejournalGender, Place and Culture.In2010shewaspresentedwiththeDistinguishedNewZealandGeographerAwardandshewasamemberoftheNewZealandPBRFPeerReviewPanel‘SocialSciencesandOtherCultural/SocialStudies’inthe2006and2012QualityEvaluations.


Research and Excellence

‘Will‘sin’taxesreduce

consumption?’Professor

JohnGibson,aneconomist

atWaikatoManagement

School,hasbeenawarded

$805,000inMarsdenfunding

toinvestigatewhethertaxing

unhealthyitems,suchas

fizzydrinkandcigarettes,

willstoppeoplebuying

themsooften.

The University of Waikato is focused on bringing an inter-

disciplinary approach to research, particularly in our

partnerships and collaborations. It is important that an

innovative research organisation such as Waikato applies

an integrated approach to its areas of research strength,

pulling together many related disciplines.

Newandexcitingdevelopmentsin2014includetwosix-year

projectsworthacombined$26million–theywereamong

severallargeresearchgrantsawardedtoUniversityofWaikato

researchers.Bothinvolvenewtechnologiesandwide-ranging

collaborationwithothertertiaryandindustrypartners,inline

withtheUniversityStrategy.

TheSTRATUSprojectreceived$12,223,770fromtheMinistryof

Business,InnovationandEmployment(MBIE)andwillcreateasuite

ofnovelsecuritytools,techniquesandcapabilitiestoreturncontrol

ofdatatoCloudcomputingusers.ThisprojectisheadedbyDrRyanKo.

TitaniumTechnologiesNewZealand(TiTeNZ)wasawarded

$14,490,000fortitaniumresearchandthedevelopmentoftitanium

products.ThisprojectisledbyProfessorIanBrown,thescienceleader

fromCallaghanInnovation,inconjunctionwithWaikato’sProfessor

BrianGabbitas.

Intotal,theUniversityreceivedmorethan$35millioninthe2014

roundofMBIEnewscienceresearchfunding–nearlyaquarterof

theoverallMBIEfundingandthesecondhighestamountofany

university.Waikatostaffarealsoinvolvedinafurther$3.5million

insubcontracts.

InNovembertheUniversityalsoreceived$2.8millioninMarsden

FundingandtheFacultyofEducationwillreceivemorethan

$31millionoverthenextthreeyearsafterelementsofitssuccessful

TeKotahitangaandHeKākanoprogrammeswereincludedinanew

BuildingonSuccessprogramme.

TheUniversityreceived$46.9millioninresearchanddevelopment

revenuebutdidnotmeetitsambitioustargetof$52million.Changes

ingovernmentpriorities,suchasthereallocationof$2.3millionin

ScienceLearningHubfunding,haveimpactedonthefinalfigure.

However,theUniversity’smajorsuccessesinresearchfunding,with

MBIEandothergrants,haveproducedasignificantpipelineforfuture

growthintheseareas.

Wehavelong-recognisedthatweareworkinginchangingfunding

environmentsandhavechosentodrivepartnershipsandcollaborations

thatwebelievearethepathwaytoastrongerNewZealand.

MBIE FUNDING FOR TWO SIX-YEAR PROJECTS

MILLION$26

STORIES IN THE STARS: Dr Rangi Matamua (SMPD) is part of a group of Māori researchers from around

New Zealand involved with SMART – the Society for Māori Astronomy Research and Traditions, and

Dr Matamua is putting together a comprehensive book on the subject.¨


Research and Excellence cont.

AsarticulatedintheStrategy,Waikatowantstoenhanceresearch

collaborationsandpartnerships;tothisendwehavebeenworking

withotherorganisationstoprovidegraduateschools.Theseare

importantfortheUniversity’sstrategyastheymatchupgraduateswith

organisationsandallowthemtoworktogethertosolverealproblems.

Waikatoisalsocommittedtodoingmoreinhealth-relatedresearch.

Throughout2014theUniversityworkedtowardsdeveloping

partnershipswiththeWaikatoDistrictHealthBoard,theUniversity

ofAuckland’sWaikatoClinicalSchoolandtheWaikatoMedical

ResearchFoundation.

TheUniversityisafoundingpartneroftheInstituteofHealthy

Ageing,acollaborationwiththeWaikatoDistrictHealthBoard

andUniversityofAuckland.ThisledtoanotherMBIE-funded

projectfortheUniversityofWaikato,researchingtheneedsof

anageingpopulation.

During2014wecontinuedtobuildonkeyresearchstrengths,andas

partofshowcasingresearchandcollaborationtorelevantpartiesand

end-users,hostedafreshwatersymposiuminWellington.Itprovided

anopportunitytodiscusswaterissuesfromlegal,iwi,economic,

planning,agriculturalandenvironmentalperspectives.

TheUniversityhasalsoputforwardastrongbusinesscasefor

afreshwaterCentreofResearchExcellence,andcontinueditslong-

standingworkintheLakeEcosystemRestorationNewZealand

(LERNZ)project,whichwillidentifyandhelpremediatethreats

tolakeecosystems.

WealsocontinuedourintegrationoftheUniversity’swhollyowned

subsidiaryWaikatoLinkandtheResearchOfficetoincreasethe

proportionofrevenuegeneratedbytheUniversityfromnon-student

andnon-NewZealandgovernmentsourcesandtoincreaseour

researchanddevelopment(R&D)revenue.

Whenthisintegrationworkiscompletedinearly2015,thestructurewill:

» ProvideacentralisedgroupfortheUniversity’sexternalresearch,commercialisationandindustryengagementneeds

» Boosttheorganisation’sR&Doutputsandprofiles,whilealsosupportingstudentinnovation

» Accelerateresearch,innovationandcommercialisationactivities

» Establishpartnershipprogrammesandsectoropportunities,andengagemorewithkeystakeholders.

IncreasingtheproportionofUniversityofWaikatoacademicstaff

whoareengagedinresearchactivityatnationallyorinternationally

recognisedlevelsisimportantandisassessedthroughatwo-

yearlyformativeresearchprocess.Theprocessalsoassistsinthe

RESTORING INDIGENOUS DIVERSITYProfessorBruceClarkson,pictured,isleadingeffortstoreversethedeclineofNewZealand’sbiologicalheritagethroughtheNewZealandBiologicalHeritageScienceChallenge,NgākoioraTukuIho,oneof10NationalScienceChallenges.

Atotalof$25.8millionwascommittedtothechallengetocoverresearchoverthenextfiveyears.ProfessorClarksonwassecondedasafull-timeinterimdirectorforNewZealand’sBiologicalHeritageScienceChallengeuntilDecember2014.

ProfessorClarksonisoneofNewZealand’sforemostauthoritiesonecologicalrestoration,andbetween2005and2012ledagovernment-fundedresearchprogrammelookingatthebestmethodstorestoreindigenousbiodiversityincities.ResearchresultsfromthatprogrammehadadirectimpactonrestorationapproachesinseveralNorthIslandcities.


introductionofthenextgenerationofresearchers,andtherefore

workforceandsuccessionplanningbenefit.

TheproportionofUniversityofWaikatostaffrankedAorBinthe

PBRFassessmentincreasedfrom43%in2006to54.4%in2012.

TheUniversityhasatargetof55%for2014,and60%for2016–the

internalformativeprocesstookplacein2014andresultsareexpected

byearly2015.

Theintroductionof180-pointtaughtmastersprogrammesmeans

therewerefewerenrolmentsinmastersthesesin2014thatwere

eligibleforResearchDegreeCompletions,butthefinalfiguresare

expectedtoexceedthetargetset.Itisworthnotingthefigureis

muchhigherthanthe681completionsin2013,making2014oneof

thebestyearsintheUniversity’shistory.Alsoofnotewasthefactthe

UniversityhadthreethesescompletedinTeReoMāoriin2014.

Sporting skills move from Hong Kong to Hamilton

Aftermorethanadecadeoverseas,itwassomethingofahomecomingforProfessorRichMasterswhenhestartedwork

intheDepartmentofSportandLeisureStudiesintheFacultyofEducation.

ProfessorMastersspent13yearsinHongKong,wherehewasAssistantDirectorthenDirectoroftheInstituteofHuman

PerformanceattheUniversityofHongKong.BeforethathelecturedattheUniversityofBirmingham.Heholdsbachelor

andmastersdegreesinpsychologyfromOtagoUniversityandcompletedhisPhDinexperimentalpsychologyfromthe

UniversityofYorkintheUK.

Heisanexpertinthewayspeoplelearnandperformskills,withhisresearchfocusingonimplicitmotorlearning,the

acquisitionofskillswithoutconsciousawarenessoftheknowledgethatunderpinstheirperformance.Thinkhowit’s

possibletohitagolfballperfectly,untilyoustartthinkingaboutit.Sureaseggs,thenextshotwillbeashocker.

“Thatiscausedbyhavingtoomuchaccesstoexplicitknowledgeaboutyourmovements,”hesays.

ProfessorMastersistheacknowledgedleaderinimplicitmotor

learningandsaysit’safarmorediversefieldthansimplysports.

HisisanimportantappointmentattheUniversityofWaikatowhich

isstartingtomakeanimpactinthehighperformancesportarea.

Hisworkcrossesboundariesfromsportssciencestorehabilitation,

surgery,speechsciences,movementdisorders,ageing,psychologyand

developmentaldisorders.“Idesignexperimentsbasedonpsychological

principlestoexaminethewaypeoplelearnandperformskills.”

ProfessorMastersisimpressedwiththeUniversityofWaikato.“The

departmentwantstogoplaces,it’sinterestedinresearch,andwantsto

strengthenitsappealtoundergraduatesbyofferingsomethingunique

inNewZealand,”hesays.

NUMBER OF RESEARCH ENROLMENTS

1,092

FTE ACADEMICS

636


Innovation and Commercialisation

Aninnovativedigitalapp

designedtoprovidemobile,

location-basedinformation

atspecificeventswason

showatthe2014Fieldays

atMysteryCreek.The

appwasdesignedbyDr

AnnikaHinze,pictured,

andAssociateProfessor

DavidBainbridgefromthe

FacultyofComputing&

MathematicalScience.It

runsonsmalltablets,and

canalsoincludeaudio

contentandrunonmobile

phones.Itwillalsobeable

toswitchtoaphoto

viewer,providing360-

degreeimmersioninto

featuredcontent.

The University of Waikato believes research is central to

innovation and to the health of a robust society. Much of

our research addresses regional, national and international

challenges, and we are focused on investing in the best staff and

infrastructure to conduct this research.

TheUniversityofWaikatoiscommittedtoincreasingtheproportion

ofrevenuewegeneratefromnon-studentandnon-NewZealand

governmentsources,andtoincreasingresearchanddevelopment

(R&D)revenue.

Tothatend,adecisionwasmadein2014tointegratethefunctions

oftheResearchOfficeandWaikatoLinkLtd–theUniversity’s

wholly-ownedresearchsubsidiary–toformtheResearch,

Internationalisation,CommercialisationandEngagementGroup.

ThisintegratedgroupwillhaveaccountabilityforUniversity-wide

operationalandstrategicinitiativesfortheachievementofexternal

research,commercialisationandrelatedindustryengagement

revenuetargets.WaikatoLinkwillberetainedandusedwhenresearch,

development,commercialisationandinternationalisationbusiness

opportunitiesnecessitatetheUniversitytouseacompanystructure.

AplanisinplacetodealwiththeresolutionofWaikatoLinkloan

andlegacyissues;thisplanincludesthesaleofasmallnumber

ofcompanies.

AspartoftheintegratedGroup’sstrategy,theUniversityhas

implementedanewmodelforengagementbetweenUniversity

researchclusters,researchnodes(supportingtheclusters)and

industry.Thisbringstogetherentrepreneurialresearchersand

commercialisationexpertisetoincreasesustainedengagement

withindustrybothnationallyandinternationally.

Alongsidethat,in2014theUniversityapprovedtheestablishmentof

anIndustry-BusinessAdvisoryBoard(IBAB).Itspurposeistoprovide

strategicguidanceandpracticalassistancetotheUniversitytobetter

engagewithindustryandbusinessbyleveragingtheirexpertise,

capabilityandnetworks.

Thebenefitsincludeincreasedresearchandresearchfunding,

increasedcommercialisationofintellectualproperty,industryand

businessinputintothedesignandreviewofacademicprogrammes,

moreopportunityforworkplacementsandpractice-basedcomponents

forstudents,alignmentwitheconomicneed,supportforproduct

developmentandcommercialisation,moreengagementwithMāori

andiwibusinessandforopeninnovationandpartnershipswith

IntellectualProperty.

SUPER WORK: Senior Lecturer Nihal Kularatna with an early prototype of his supercapacitor–based surge

protector that is now being commercialised.¨


Innovation and Commercialisation cont.

TheUniversityrecentlyappointedaDirectorofInternational

Business,SharonCalvert,toincreaseinternationalpartnerships,

internationalstudents,andinternationalbusinessopportunities.

WearealsoinvestinginkeybusinessengagementrolesinAuckland

andWellington.

Theneedformoregraduatesintheagriculturalsectorhasbeenmuch

discussedandtheUniversityisoneofnineorganisationsthathave

cometogethertoformaWaikatoAgriHub,aplatformtoattract

investmenttotheregion,andtodeliverinnovation,productivityand

sustainabilityacrosstheagri-sector.Theotherpartnerorganisations

areLincolnUniversity,DairyNZ,Wintec,HamiltonCityCouncil,

WaikatoInnovationPark,NIWA,AgResearchandLandcareResearch.

WaikatoUniversity’sfocusintheagriculturesectorissustainablefarm

systems,internationalmarketing,themanagementofcomplexand

extendedvaluechains,agriculturaleconomics,soilsscience,bigdata

andICTsolutions,freshwatermanagementandengineeringsolutions,

high-techsystems,wasterecycling,biochemistryanalysis,energy

efficiencyandrenewableenergy.

In2014theUniversityannouncedplansforadedicatedAgritech

InnovationManagertoimprovetheUniversity’sconnectednesswith

thesector,andadedicatedAgritechSeedFundwillassistwithIP

commercialisationandtransfer.AnAgritechEntrepreneurialFellowship

isplannedtohelpbuildcapabilityfocusedonindustryinnovation.

Alsoduring2014,theUniversityopenedNewZealand’sfirst

university-basedIntegratedDataInfrastructure(IDI)hub.Thehub

providesapprovedresearcherswithaccesstoalargerangeofdataon

education,tax,families,households,sentencingandcharges,health

andsafety,studentloans,migration,andmore.Itishostedbythe

NationalInstituteofDemographicandEconomicAnalysis(NIDEA),

makingdataavailablethatwasonceonlyaccessedbyapproved

researchersinStatisticsNewZealand’ssecuredatalabsinAuckland,

WellingtonandChristchurch.

IndividualacademicsandstudentsattheUniversityofWaikatohave

spenttheyearworkingonavarietyofprojectswithcommercial

potential,orthatcanadvanceexistingproducts,forexample:

Asupercapacitor-basedsurgeprotectorinventedbyElectrical

EngineeringSeniorLecturerNihalKularatnaiswellonitswayto

commercialisation.Followingathree-yearresearchanddevelopment

partnership,alicenceagreementhasbeennegotiatedwithThor

Technologies,anAustralianmanufacturerofpowerprotection

andmanagementproducts.In2013,MrKularatnawasnamed

NewZealandEngineeringInnovatoroftheYearatthe

NewZealandEngineeringExcellenceAwards.

ComputerscientistAssociate

ProfessorMasoodMasoodian

ispartofaninternational

projecttostemthe

spreadofdiseasessuchas

Leishmaniasis,aninfectious

diseasefoundinthe

southwestAmazon.Heand

hiscolleaguesaredeveloping

appsformobiledevices

whichwillallowdoctorsand

researchersworkinginthe

fieldtocollectandvisualise

diseasedata,tomonitorand

trackthespreadofneglected

diseases.Theyarealso

developinggamestoinform

thelocalpopulationabout

thesediseases.


EngineeringmastersstudentPinweiJimhasdesignedand

builtaremotecontrolroboticsnake,anticipatingthatit

couldbedevelopedandusedinemergencysituations,

reachingplacesinaccessibletohumans.

TheChronopticsResearchGroupatWaikato,including

DrAdrianDorrington,DrLeeStreeterandRefaelWhyte,

isworkingwiththeinfluentialprivateresearchuniversity,

MassachusettsInstituteofTechnology(MIT),todevelop

a$500prototypecamerathatissofastitcantrack

movementthroughascreenandthenusethisinformation

tobuildupaccuratethree-dimensionalimages.Ithas

greatpotentialforuseinmedicalimagingandcollision

avoidancedetectorsforcars,andtoimprovetheaccuracy

ofmotiontrackingandgesture-recognitiondevicesusedin

interactivegaming.

Waikato Professor’s work will make MRI scans easier

EngineeringProfessorJonathanScottissearchingfornewandsaferdesignsforelectrodesthatareimplantedinthe

humanbody.

It’sagrandchallengehesays.WithcolleaguesintheFacultyofScience&Engineeringhe’sgottwoprojectsonthego;the

firstistoincreasethebatterylifeofelectrodesandthesecondistodevelopanelectrodethatwillwithstandmagnetic

resonanceimaging(MRI)scanning.

“Iftheeffectiveareaofelectrodeswasincreased,batterieswouldlastlonger,”saysProfessorScott.Hesayssurface

rougheningtechnologyexists,butisnotusedinimplants,becausethebody’sdefencesystemactsontheporesofthe

electrodes’metalsurfacetoreducetheeffectivenessovertime.TheWaikatoteamhasdevelopedamethodtocharacterise

electrodeimpedancethroughanewly-developedfractional-capacitormodeloftheelectrolyteinterface.Theresearchers

hopetofindoutexactlyhowelectrodeimpedanceisaffectedbyvariousbiologicalevents.

Inanotherlab,ProfessorScottisworkingwithPhDcandidateChris

McCabetofindawaythatpeoplewithmedicalimplants,towhich

electrodesareconnected,canhaveMRIscans,somethingthatcan’tbe

doneatpresentbecauseoftheriskofthebody‘overheating’whenthe

electrodeheatsupinthescannerand‘cooks’theareasurroundingit.

Waikatotechnicianshavebuilta‘humancase’,aclearacrylicboxwhich

canbefilledwithasalinejellyintowhichelectrodescanbeinserted

beforethecaseisrunthroughtheMRIscanner.“TheMRImachinehas

10timestheradio-frequencyheatingpowerofamicrowaveoven.Our

goalistofindanon-magneticdesignfortheelectrodethatwon’tbe

affectedbyRFfields,”saysProfessorScott.

INCOME FOR RESEARCH INSTITUTES

ERI$3,191,000

TKRI$795,000 IBR

$332,000

NIDEA$1,091,000

WMIER$3,481,000


Internationalisation

InIndonesia,theUniversitysignedanMOUwithAirlanggaUniversityplusagovernmentagreementwhichopensthedoorforupto20IndonesianpostgraduateanddoctoralstudentstostudyatWaikato.ThisisasignificantpartnershipthatshouldattracttopqualityIndonesianstudents.

The University of Waikato Strategy 2014-2017 outlines our

commitment to implement a comprehensive programme of

internationalisation, and in response to several years of declining

Full-Cost International (FCI) enrolments the University is now

focussing on a more coherent and collaborative approach to

international student recruitment across the institution.

Thereisalsoacontinuedfocusonthedevelopmentofpartnerships,

withoff-shoredeliverydesignedtogrowbothprofileandrevenue.

Oneofthekeyobjectivesofinternationalisationistoenhancethe

reputationoftheUniversity;howeveritisimperativetheoutcomes

alsodeliverincreasedandmorediversifiedrevenuestreams,especially

inanincreasinglycompetitiveandprice-consciousinternational

studentrecruitmentmarket.

Whilethemajorityofinternationalactivitytodatehasbeenfocused

onstudentrecruitmentandretention,theUniversityintendsto

givegreateremphasisinfuturetocommercialisationofteaching

programmesandoff-shoredelivery.

TheUniversitycommittedtoatargetof1,647FullCostInternational

(FCI)EFTSfor2014aspartoftheInvestmentPlan2013-2015

developedandapprovedin2012.ThistargetreflectedtheUniversity’s

planstoreversethemedium-termtrendofdecliningFCIEFTS.For

budgetpurposesalower2014targetof1,505FCIEFTSwasagreedto

internallyinlate2013.In2014,theUniversityenrolled1,401FCIEFTS.

TheshortfallinFCIenrolmentsisprimarilyatsub-degreelevel;

andwhileenrolmentsatdegreelevelwerehigherthanin2013,

postgraduateenrolmentsweredownon2013.Targetsfor

internationalstudentcourseandqualificationrates,alongwith

internationalstudentretentionrates,wereexceededin2014.

Initsanniversaryyear,theUniversityofWaikatowasconfirmedas

oneofthebestuniversitiesunder50yearsoldwhenitwasranked

44intheinfluentialTimesHigherEducationTop100Under50,two

positionsbetterthanin2013and14placeshigherthanin2012.

IntheoverallTHErankingsavarietyoffactors,includingarelative

dropincitationrates,sawtheUniversitystruggletomaintainits

ranking,placinginthe351-400band.However,itmaintainedor

improveditsrankingsintheteachingandindustryincomecategories.

LikeallNewZealandtertiaryinstitutions,Waikatofacescompetition

fromthehighnumbersofuniversitiesopeningaroundtheglobeand

developingcountries’increasinginvestmentintertiaryeducation.

ORIGINS OF INTERNATIONAL STUDENTS

ChinaMiddle East

Other Asia

Europe

America

Pacific IslandsOther

972251

466

109

1199140

INTERNATIONAL AT WAIKATO: The 2013 International Student Barometer survey of 193 universities in

16 countries revealed 90% of Waikato respondents were satisfied with their experience at the University

of Waikato and 82% of respondents said they would recommend Waikato to others.¨


Internationalisation cont.

IntheQS(QuacquarelliSymondsLimited)worldrankingsin2014the

Universitymaintaineditsrankinginthe401-410band.However,we

liftedourranking26placesinthe‘EmployerReputation’categoryand

alsoimprovedinthe‘ArtsandHumanities’subjectarea(upfrom311

to244+)andthe‘SocialSciencesandManagement’category(125+,

upfrom210+lastyear).

Wehadfivesubjectsrankedintop150worldwidebyQSwithone

–Education–ranked46thintheworld.Theotherfour,allranked

from101-150,areModernLanguages,EconomicsandEconometrics,

LawandComputerScienceandInfoSystems.Itisthefirsttime

ModernLanguageshasappearedintherankingswhileEducationand

Economics/Econometricsbothimprovedtheirrankings.

WeplanfurtherworktobettermanageandleveragetheUniversity’s

internationalacademicnetworkshowever,asauniversity,we

ensureouracademicsappreciatethebenefitstotheorganisationof

publishinginparticularareasandalsotoinformingexternalaudiences

aboutthesuccessofimportantUniversityresearch.

Websiteimprovementprojectsduetotakeplacein2015and

2016willfurtherraisetheprofileofWaikatoresearchandshould

alsocontributetoaninternalcultureofresearchaspirationand

celebratingsuccess.

Aspartofour50thanniversarycelebrations,wewelcomed

HarvardProfessorDavidBloomasourGoldenJubileeDistinguished

VisitingProfessor.

ProfessorBloomisaspecialistineconomicsanddemography

andisbasedattheHarvardSchoolofPublicHealth.Heconsults

internationallytoorganisations,includingdivisionsoftheUN,the

WorldBank,theAsianDevelopmentBankandtheBillandMelinda

GatesFoundation.HespentamonthinNewZealand,givingpublic

lectures,meetingpoliticiansandhealthsectorworkersandworking

withWaikatoacademics.Sincereturninghome,ProfessorBloomhas

continuedtocollaboratewithWaikatoacademicsoninitiativeswhich

willleadtoenhancedrelationsbetweenWaikatoandHarvard.

Earlyin2014theUniversitysignedanagreementwiththeBay

ofPlentyPolytechnicandChina’sYantaiUniversitytoprovide

animprovedpathwayforaccesstobusinessandaccounting

qualifications.ItwassignedduringavisittoChinabyapowerful

tradeandeducationdelegationfromTauranga,includingMayor

StuartCrosby,UniversityofWaikatoDeputyVice-Chancellor

ProfessorAlisterJones,BayofPlentyPolytechnicChiefExecutive

AlanHampton,EducationTaurangachairmanGraemeLindand

othersfromtheeducationsector.Itbuildsonthelongstandingand

strongrelationshipbetweenTaurangaandYantaiandformsanother

importantconnectionfortheUniversityintheBayofPlentyregion.

COUNTRIES WHERE WAIKATO HAS INTERNATIONAL TERTIARY PARTNERS

WAIKATO’S INTERNATIONAL OUTLOOKLookingbeyondnationalboundariesandsustaininganinternationaloutlookisatoppriorityfortheUniversityandin2014oureffortswererewardedwiththeTimesHigherEducationrankingWaikato44thintheworldforinternationalisation.

AfundamentalpartofourstrategyisaboutdevelopingandsupportingasmallnumberofmutuallybeneficialrelationshipswithoverseasinstitutionsthathavethesamedriveandambitionasWaikato.

Wearealwayslookingatnewandinnovativewaystocollaborate.Akeystrandtoourstrategyiscontinuingourworkdeliveringourprogrammesoffshoreandproactivelylookingfornewventurestoexplorethatwill

complementourcurrentoffering.

China (Mainland, Hong Kong, Taiwan)

31

Rest of the World51

Korea9

Japan20

USA28

Great Britain

MalaysiaGermany

8

87


1,401

16,100INTERNATIONAL FOLLOWERS ON FACEBOOK PAGE

YantaialreadyhasstronglinkstotheUniversityandthesewere

strengthenedfurtherwhenthetwolawschoolssignedaletterof

intentwhichsetsoutwaysinwhichtheywillexploreopportunitiesfor

cooperationandallowstudentstostudyateachother’slawschool.

TheUniversityisnowworkingmorecloselywiththeChinese

AcademyofSciences,andtheimpactofworkfromthelikesof

ProfessorsDavidHamilton(lakes)andChrisBattershill(coastal

science)inChinahaspavedthewayforthat.

TheYantaiInstituteofCoastalZoneResearch,ChineseAcademy

ofSciences,andWaikatowillworktogethertoestablishtheChina-

NewZealandCoastalBiotechnologyJointResearchCentre,to

integrateChinaandNewZealand’scoastalbiotechnologyresearch

experts.ItwillhavebasesinTaurangaandChina.

New director has international pedigree

SharonCalvertknowstheroleofDirectorofInternationalBusinessisn’talldepartureloungesandpassportstamps.

MrsCalvertwasappointedtothepositionin2014andoneofherfirsttaskswastoaccompanyProVice-Chancellor(Education)

ProfessorRobynLonghursttoaconferenceinBraziloninternationalisingthatcountry’scurriculum.

MrsCalvertsaysitwasgoodfact-findingmission.“WewenttogetasenseofwhetherBrazilwasacountrythatweshould

bedeepeningourlinkswith,”shesays.“AnumberofacademicsalreadyhavelinksthereandBrazilhasagoodscholarship

programme.”ShesaystheUniversitywillkeepa“watchingbrief”onBrazil,whichwas“verykeentointernationalise”.

MrsCalverthasastrongbackgroundininternationaltertiaryrelations.Shecompletedanundergraduatedegreein

marketingandamastersinpublicrelationsatStirlingUniversitybeforeworkingatLancasterUniversityrecruitingand

marketinginSouthEastAsia,ChinaandKorea.

ThatwasfollowedbydeputydirectorinternationalrolesatYorkandDurhamuniversities.

Shethentookupaconsultancyrolewithinternationalgraduateinsightgroup(i-graduate)

inAustraliaandNewZealand,whereshewasinvolvedintheUniversityofWaikato’s

internationalstudentbarometersurveyin2013.

MrsCalvertmovedtoHamiltonpermanentlyattheendof2014andsaystherearegreat

thingshappeningattheUniversityofWaikatointheinternationalspace.

“Myroleistoseehowwecanbringthemalltogetherandworktogethertosupportthe

University’soverarchingstrategy.I’mlookingforwardtodevelopingtheroleandidentifying

innovativeopportunitiesforWaikato.”

FULL COST INTERNATIONAL EFTS IN 2014


Partnerships and Engagement

TheChiefsRugbyClubandtheUniversitysignedanMoUinearly2014toformalisewhatwasalreadyastrongrelationshipandtoworkonkeyprioritiessuchaseducationandresearch,studentprojectsandinternships.TheUniversityalsosponsoredtheWaikatoJuniorsinanewnationalcompetition,withmanyplayerseitherstudentsand/orplayersoftheUniversityRugbyClub.

The University of Waikato was founded by the people for the

people, and relationships with the wider regional, national and

international communities are vital to the University.

ItistheUniversity’scommitmenttotheBayofPlentyregionthathas

ledtotheBayofPlentyRegionalCouncilandtheTaurangaEnergy

ConsumerTrusteachagreeinginprincipletofundupto$15million

foranewUniversity-ledcampusinTaurangaCity.Thiswill

accommodatetheBayofPlentyTertiaryEducationPartnership,

madeupoftheUniversity,TeWhareWānangaoAwanuiārangi,Bay

ofPlentyPolytechnicandWaiarikiInstituteofTechnology.Thefour

partnershave20,000EFTSbetweenthem.

Thecontributionsaresubjecttosatisfactoryfundingconditions

andaHeadsofAgreementforanewcampusislikelytobesigned

inearly2015.

ThisisanimportantstepfortheUniversity.Thepopulationofthe

BayofPlentyregionhasgrownsteadilyandisexpectedtoreach

approximately320,000by2031(14.5%above2011).Theregion

performsabovethenationalaverageinkeysecondaryschool

qualificationsbutitunderstandsitneedsastronguniversitypresence

tohelpfulfiltheregion’sfutureskillneeds,tostemtheoutflowof

theBayofPlenty’syouthandtoaddressissuesrelatingtothefast

growingandrelativelyyouthfulMāoripopulation.

TheUniversityhasstronglinkswiththetertiaryeducationsector,and

offersanumberofwell-definedpathwaysforstudentsfromother

tertiarysectorsandproviders.Specificpathwaysareofferedfrom

nationalandinstitute-specificdiplomaprogrammesdeliveredthrough

otherprovidersacrosstheregionincludingthefourinstitutionsinthe

BayofPlentyTertiaryEducationPartnership.

InHamilton,WintecofferstheUniversity’sCertificateofUniversity

Preparationasapathwaytodegree-levelstudyattheUniversity.It

hasproventobeaparticularlyimportantpathwayforMāoristudents

sinceitsintroductioninthe1990sandcontinuestosupportmany

first-in-familyMāoristudentsintodegree-levelstudy.

TheUniversityiscommittedtocontributingtothesocial,

environmental,cultural,sportingandintellectualcapabilityof

thecommunitiesitserves.

During2014theUniversitysignedmemorandumsofunderstandingto

assiststudents,usuallySirEdmundHillaryScholars,todotheirbest

academicallyandintheirchosensportorperformingart.

Agreementsweresignedwiththenationalbodiesofcyclingandtriathlon.BothorganisationshavetheirheadofficesintheWaikatoattheAvantidrome,wheretheUniversityisthetertiarypartnerand

SECONDARY SCHOOL STUDENTS AT OPEN DAY

3,700

TIGERS OF INDIA: This work by New York-based New Zealand artist Max Gimblett was one of 22 works on

paper he donated to the University during its jubilee year.¨


Partnerships and Engagement cont.

whereUniversitysportsscientistshavebeenworkingwiththeworld

championtrackcyclistsandthenationaljuniorcyclingteam.Waikato

studentshavealsobeenmakinguseofthelabfacilitiesaspartoftheir

degreestudies.

MidlandsHockey,partnertofivehockeyassociationsinthecentral

NorthIsland,hasalsosignedanMoU,ashavetheChiefs.The

collaborativeapproachwiththeChiefsinparticularisaimedat

makingarealdifferencetoplayersupportandperformance,bringing

inrelevantUniversityteachingandresearchexpertise.University

studentsalsobenefitfromtheserelationshipswithinternshipand

summerscholarshipopportunities.

SportandLeisureStudiesstaffhaveworkedwiththeWaikatoBayof

PlentyMagicnetballteamonaspectsoftrainingandrecovery,and

theUniversitywillofferaKIAWaikatoBayofPlentyMagicDoctoral

Scholarshipworth$22,000ayearforthreeyearsfrom2015to

supportadoctoralcandidateinresearchinto‘Enhancingperformance

andrecoveryinelitenetballplayers’.

TheUniversityisalreadyworkingmorecloselywithgroupsinthe

Waikatoregioninvolvedintheagriculturalsector.Ontheeveof

the2014Fieldays,theUniversityhostedalaunchoftheWaikato

AgriHub–agroupofnineorganisationswhoareformingaplatform

forattractinginvestmenttotheregionanddeliveringinnovation,

productivityandsustainabilityacrosstheagri-sector.

ThefoundationoftheWaikatoAgriHubfollowedmonthsofdiscussion

betweennineorganisations,includingCrownResearchInstitutes,

universitiesandagriculturalsectororganisationsthatareforming

thecoreofthehub.TheUniversityhasanon-traditionalfocusinthis

spaceandwilloffertheagriculturalsectortheknowledgeitneeds

tooperatesustainablefarmsystemsandcomplexvaluechainsto

competeintoday’sglobalmarkets.

AspartoftheUniversityofWaikato’s50thjubilee,internationally

acclaimedNewZealandartistMaxGimblettdonatedtotheUniversity

22worksonpaperandtwohand-madebooksmakingupacollection

titledThe Universe.WhilevisitingtheUniversity,theNewYork-based

artistgaveapubliclectureandranaseriesofSumi-eworkshops.

TheUniversityholdsavarietyoflecturesforourcommunitiesaspart

ofourroleascriticandconscienceofsociety.

OurannualWinterLectureSeriesbringstogetherUniversityexperts

andresearchwithkeymembersofthecommunity,someofwhomare

alumni,todiscusstopicsvitaltotheregionandnation.In2014,the

serieslookedatwhatthefutureholdsforavarietyofissuessuchas

entertainment,businessandcybersecurity,andforHamiltonCityitself.

PARTNERSHIP IN THE BAY TheBayofPlentyTertiaryEducation

PartnershipismadeupoftheUniversity,

TeWhareWānangaoAwanuiārangi,

BayofPlentyPolytechnicandWaiariki

InstituteofTechnology.Thepartnership

isworkingwiththeregiontodrawup

aHeadsofAgreementforthedelivery

ofaUniversity-ledcampusinthe

TaurangaCBD.

COMMUNITY FUNDING AND LAND PLEDGED FOR TAURANGA CAMPUS

MILLION$34


New head brings new marketing direction

DavidCraigwasappointedHeadofCommunicationsandExternal

RelationsCERmid-2014,comingfromAustralianCatholicUniversity

wherehewasDirectorofMarketingandExternalRelations.

InhisfirstsixmonthsatWaikato,MrCraigworkedwithrecently

appointedadvertisingagencyKingSttodevelopanewrecruitmentand

positioningcampaignfortheUniversity.Thenewcreativepresenteda

freshlookfortheUniversity,playingtoourstrengthsandpositioning

usforthefutureastheNewZealanduniversitythatconfrontsglobal

challenges,isinnovativeinitsapproach,solvesproblemsrelevantto

today’sworldandiswelcomingandrespectfultoall.Forthefirsttime

inmorethanadecadethecampaignhasincludedtelevisionadvertising.

Feedbackforthenewcampaign,fromstaff,prospectivestudents

andmoregenerallyfrompeopleoutsidetheUniversity,hasbeen

overwhelminglypositive.

Theintegratedmarketingcampaignhashadgreateremphasisondigitalmarketingchannelsincludingsocialmedia,TV

ondemandvideoandmobileadvertising.Anumberofengagementopportunitieshavebeendevelopedaspartofthe

campaignincludinganexperientialmarketingpromotionwhichinvolvedastudent-ledroadtriptosummerhotspotsto

interactwithtargetaudiences,andaswellastheface-to-facecomponents,thepromotionusedawiderangeofsocial

mediaplatforms.

Traditionalmediasuchasoutdoor,radioandprinthascontinuedtobeapartofthemediamix.AlongsidetheUniversity-

widecampaign,individualfacultiesactivelypursuedspecificadvertisingusingthenewcampaignstyleastheypromoted

TSemester2014andforASemester2015students.

MrCraighasalsorestructuredtheCERDivision,toberenamedMarketingandCommunications,andchangeswillbe

introducedduringtheearlypartof2015.Theyincludetherecruitmentofanin-housecreativeteam,greateremphasison

digitalandinternationalmarketing,anewfocusonexternalengagementandtwonewadditionalcommunicationspecalists.

MrCraigiscurrentlyworkingonhisPhDstudyingtheimpactsofbrandonthetraditionalcharacterofauniversity.

FOLLOWERS ON FACEBOOK

31,000TheregularInauguralProfessorialLecturesaretheUniversity’swayof

introducingnewandrecentlypromotedprofessorstothecommunity,

allowingtheminsightsintotheirresearch.

Otherpubliclecturesofnotein2014wereNewZealanderoftheYear,

DrLanceO’Sullivan,whogavethekeynotespeechatKīngitangaDay

abouttheimportanceofMāoriyouthhavingapathwaytoleadership,

andtheUSConsulGeneralinAuckland,JamesDonegan,whospoke

attheannuallawKinrockLecture,sayingNewZealand-USrelations

werebetterthantheyhaveeverbeen.


Sustainability

TheUniversityhostedthemanlargelyresponsibleforthetransformationoftheMalaysianstateofPenangintooneofthemosteco-consciouspartsofSouthEastAsia.MalaysianpoliticianBoonPohPhee,pictured,gaveapubliclectureandexplainedhowinitiativessuchaschargingforplasticbags,banningStyrofoamcontainers,havingcar-freedaysintheCBDandcommunity-ledrecyclingschemeshelpedPenangbecomealeaderinenvironmentallysustainabletransformations.

The University of Waikato generated $988 million of sales

revenue in 2014, a $50 million increase on the year before, and

it contributes nearly $500 million to national GDP annually.

TheUniversity’s2014economicimpactreport,preparedby

EconomicsHonoraryFellowDrWarrenHughes,showsthe

University’srevenueimpactsitsatjustunder$1billionannually.

Togetherwiththeemploymentimpactofmorethan5,500jobs

sustainedthroughoutNewZealand,theUniversityofWaikato

isasignificantfactorintheNewZealandeconomy.

ThereportshowsUniversityoperationsamountedtoabout$587million

inrevenuewhilestudentexpendituretotalled$401million.

Mostoftheeconomicimpact–$822.8million–wasfeltinthe

WaikatoCoreregion,comprisingHamiltonCityandtheneighbouring

WaipaandWaikatodistricts,withtherestspreadthroughtherestof

NewZealand.

TheUniversityagainmaintainedalowriskratingagainsttheTEC’s

FinancialMonitoringFramework,whichreflectsthecontinuingfinancial

strengthoftheUniversity’soperations.

TheUniversitysignificantlyincreaseditsrevenuefromgovernment

sourcesin2014.Theinstitutionalsoincreasedtheproportionof

revenueitreceivedfromnon-governmentandnon-studentsources.

Theincreaseinrevenuefromgovernmentsourcescameviasignificant

increasesinMinistryofEducation-competitiveandMinistryfor

Business,InnovationandEmployment-competitivegrants,allof

containexternalresearchersandstaff.Thesehaveallowedthe

Universitytoofferprofessionaldevelopmentforteachers,and

conductresearchthatwillbenefitendusers,suchasthemajorMBIE-

fundedresearchtocreateasuiteofcyber-securitytoolstoensure

securityintheCloud.

Overall,wefellshortofourtargetforMinistry-fundedEFTSbut

enrolmentsintheSTEMsubjects(Science,Technology,Engineering,

Mathematics)continuetogrow.TheUniversityexperiencedhigher

enrolmentsinScienceinparticular,andEngineeringandComputer

Scienceenrolmentswerealsohigherin2014.Thegrowthin

enrolmentsinSTEMsubjectsisconsistentwithgovernment

prioritiesandexpectations.

ThefinancialmanagementframeworkwithinwhichtheUniversity

ofWaikatooperatesisrobust.Itisunderpinnedbyahigh-level

FinancePlan,thepurposeofwhichistoguidethemanagementofthe

HYBRID CARS IN 149-VEHICLE FLEET

29

VIEW FROM THE TOP: Construction of the Law and Management building is well underway and scheduled for

completion in late 2015.¨


Green Waste256

Sustainability cont.

University’sfinancesinamannerthatensuresfinancialgrowth,diversity,

security,resilienceandsustainability.ThePlanensurestheUniversity:

» Isfinanciallysustainablethroughtheeffectiveandefficientuseofallresources

» Appliesabudgetmodelandfinancialplanningprocessesthataretransparent,relevant,efficient,realisticandeffectiveinsupportingtheachievementoftheUniversity’sshort-,medium-andlong-termstrategicgoals

» Financialmanagementinformationisconsistentlyaccurateandtimelyandfacilitatesoperationalandstrategicdecision-making

» Identifies,evaluates,mitigatesandmanagesfinancialrisksassociatedwithuniversitystrategy.

SustainabilityalsoplaysakeyroleintheUniversity’scapitalassetmanagement.AHamiltonCampusDevelopmentPlanhasbeendevelopedandservesasakeybuilding,infrastructureandurbandesignplanningtool.

TheobjectivesdefinedintheplanaretheframeworkfortheUniversity’scapitaldevelopmentanditsobjectivesrelateto:

» Sustainabledevelopment

» Senseofplace

» Builtenvironment

» Landscapeenvironment

» Transportationandparking

» Townandgownintegration

» Developmentandprocess.

TheUniversity’scapitaldevelopmentplanningtakesaccountof

severaldiversefactors,includingbuildingconditionauditdata,

enrolmentprojections,space-to-EFTSratiosandstudentnumbers-

to-EFTSratios.Italsotakesaccountoftrendsandprojections–both

withinthisUniversityaswellasnationallyandglobally–associated

withresearch,modesofteachingdeliveryandtechnology.

ThemajorcapitaldevelopmentcurrentlyunderwayisthenewLaw

andManagementbuilding,reflectingtheUniversity’sstrategyto

investinhigh-qualityfacilitiesforthebenefitofstaffandstudents.

Thebuildingisstillexpectedtobecompletedlatein2015,despite

delaysearlyintheprocess.ItwillbereadyforASemester2016and

willprovideanotherstrongconnectionbetweentheUniversityand

thewidercommunity.

TheUniversityhasensuredthebuildingwillhaveaccessible

communityspaces,andworkcontinuestoestablishprofessional

linkages,particularlybetweentheLawFaculty,whichisrisingin

internationalrankings,andtheregionallawcommunity.

Alongsidethis,theUniversityisalsotakingalongerviewoncampus

spacesingeneral.In2014,theStrategicBuildingsandInfrastructure

SubgroupadvisedtheCapitalAssetCommitteeaboutwhatthe

RECYCLING IN 2014 (TONNES)

Glass20

Cardboard20

Plastic

Aluminum cans 94

MAJOR ECONOMIC IMPACTEverydollarspentbytheUniversityor

ourstudentsgeneratesanother99cents

forCoreWaikato(Hamiltoncity,Waipa

andWaikatodistricts)businessunits

andafurther34centsforbusinessunits

outsidethisregion.

EveryjobattheUniversitygenerates

another0.56ofajobintheCoreWaikato

economyandanother0.7ofajobinthe

restofNewZealand.

Everyinternationalstudentatthe

Universitygenerates$90,000insales

revenuesomewhereintheNewZealand

economy,with$77,000ofthisfigure

realisedwithintheCoreWaikatoarea.


It’s all smiles in Science and Engineering

It’snotalldowntoher,butasmanageroftheUniversityofWaikato’sFacultyofScience&Engineering,ShelleyCatlin

isentitledtoasatisfiedsmile.

“Wehadquitealotofsuccessin2014,”shesays.“WereachedourEFTS,exceededourresearchtargets.We’vegot

somereallygoodcollaborationswithotheruniversities,CRIsandlocalgovernment.”

TheFacultyalsoreceivedMarsdenandMBIEresearchgrantsandis

involvedintheNationalScienceChallenges.

“We’vebroadenedtheresearchprofileoftheFaculty,”shesays.

TheFaculty’sresearchprofileisoneofitsstrengths,rangingfrom

areassuchasbio-medicalresearchandbiologytowaterquality,

ecologicalrestorationandthedevelopmentoftitaniumproducts.

TheFacultyalsosuccessfullylaunchedtheSchoolofSciencein2014.

ItbringstogethertheformerDepartmentsofBiologicalSciences,

ChemistryandEarthSciencesintoacohesivecross-disciplinaryunit

providinggreateropportunitiesforteachingandresearch.

campusofthefuturemightneedtolooklike.Thegroupconsideredfactorssuchashowmanystudentsdowethinkwewillbecateringtoin20yearsandwhatwilltheirneedsbe?Aremorestaffexpectedtoworkfromhomeby2040?Whatdoesthatmeanforspaces,supportservicesandaccommodation?

Throughout2014wehavemaintainedourfocusonenvironmentalsustainability,addinganother16hybridcarstothefleet,recycling265tonnesofgreenwaste,andintroducingsubsidisedrefillablethermalmugs–cuttingdownthenumberoftakeawaycups,andgivingstaffandstudentsdiscountonhotdrinks.

WealsobegantophaseoutpolystyrenecupsandpackagingbyworkingwithoutletsoncampusandwithsuppliersandcontinuedrollingoutindoorrecyclingacrosstheHamiltoncampus.

TheUniversity’ssustainabilityeffortswererecognisedinternationallyin2014whenitwasafinalistintheAustralasianGreenGownAwardsBestNewcomercategory.TheawardswereestablishedtorecognisesustainabilitybestpracticewithinthetertiaryeducationsectorinAustralasiaandrecogniseinstitutions’sustainabilityactionsandinitiatives.

ITEMS OF FURNITURE, EQUIPMENT AND CARPET GIVEN TO COMMUNITY

370

TOTAL NET USABLE AREA PER EFTS (M2)

11


Staff

ProVice-ChancellorMāoriProfessorLindaTuhiwaiSmithwasmadeafellowoftheAmericanEducationalResearchAssociation(AERA).Theprestigiousawardacknowledgeshernotableandsustainedresearchachievements.

Staff farewelled Vice-Chancellor Professor Roy Crawford at the

end of 2014; he was just the fourth Vice-Chancellor since the

University was founded 50 years ago.

ProfessorCrawfordprovidedaplatformofstableleadershipduring

aperiodofsignificantchangeintheNewZealandtertiarysector.

Despitetheconstantchallenges,heremainedfocusedonthe

studentexperience,ensuringmajorfacilitieswereupgradedand

newamenitieswereplannedanddevelopedforstudents’benefit.

UnderProfessorCrawford’sleadership,theUniversityintroducedthe

DistinguishedAlumniAwards,enhancedtherelationshipwiththe

NationalAgriculturalFieldays,establishedmulti-disciplinaryresearch

institutesandstrengthenedmajorinternationalpartnerships.

ProfessorNeilQuigleytakesupthereinsasVice-Chancellorfrom

February2015.

Inlinewithourcommitmenttopeopleandstrategy,weconducted

thethirdofourUniversity-widestaffsurveysin2014inwhich68%

ofstaffparticipated.Overalltheresponsewasfavourablewiththe

Universityscoringequaltoorbetterin22ofthe37areasthatcould

bebenchmarkedagainstthe39otheruniversitiesthatalsousedthe

survey.ThestaffsurveyresultsshowedJobSatisfaction,Position

Clarity,andTeamWorkallratedexcellent(80%orhigher)again,and

in2014,PostgraduateSupervisionjoinedthelistofexcellentscales.

Thefeedbackreceivedthroughthesurveyprovidesimportant

informationforplanningandcontinuousimprovement.Detailed

analysisandreportsareprovidedtomanagersofportfolioareas

coveredbythesurvey,helpingthemtobetterunderstandandmanage

theiroperationalareas.

TheUniversityhasathree-yearEqualEmploymentOpportunity

(EEO)programmewhichisfocusedonincreasingrepresentationand

opportunitiesforwomen,MāoriandPacificpeoples.Inthepastfew

years,wehaveincreasedthenumberoffemaleprofessorsto27%of

thetotalnumberofprofessors,andassociateprofessorsto37%

ofthetotalnumber.

Thestaffengagementsurveyindicatedthatworkremainstobedone

ontheprovisionofopportunitiesforcareerenhancement.

Anassessmenthasalsobeencarriedouttoprovideaclearer

understandingoftheEEOsituationandcareerdevelopmentissues,

andtodevelopasetofindicatorsformeasuringprogress.

TheUniversityagainsupportedfivestafftoattendtheUniversities

NewZealandWomeninLeadershipprogrammes.Thegoalofthe

STAFF GENDER PROFILE

51%MaleacademicFTEs

MaleotherFTEs

FemaleacademicFTEs

FemaleotherFTEs

49%

32%

68%

LIFETIME ACHIEVEMENT: Emeritus Professor Roy Daniel’s long career in science was acknowledged

at the 2014 KuDos Awards. Emeritus Professor Daniel received his award from University of Waikato

Pro Vice-Chancellor Research Professor Al Gillespie.¨


programmeistoincreasewomen’sleadershipcapabilitiesand

influenceinthetertiarysectorbyenhancingtheirpersonal,

professionalandnational-levelskillsandnetworks.

SharynHeatonandAssociateProfessorsNicolaStarkeyandAnnaStrutt

attendedthe2014academicprogramme;MeshweylaMacdonaldand

SonyaSaunderswerepartofthegeneralstaffprogramme.

Allparticipantsoftheprogramme,whichtheUniversityhassupported

formanyyears,reportanincreasedunderstandingofthechallenges

ofthetertiarysectorandhowtheycanhelpaddressthem.The

UniversityhasastronggroupofNZWILalumnae,andalsorunsa

popularannualWomeninLeadershipDay,opentomembersofother

WaikatoandBayofPlentyorganisations.

Waikato’sacademicworkforceisageing–arecentcasestudy

showedWaikatohastheoldestacademicworkforceofall

NewZealanduniversities,with23%ofitsacademicsover60.

Facultiesanddivisionsmanagesuccessionplanningandthecasestudy

recommendeddevelopingapracticalframework,withsupporting

guidelinestohelpmanagethetransitionintoretirement.

The2014GeneralStaffDayfocusedoncustomerservice,with

panellistsdiscussinghowtoensurecustomerserviceisaUniversity

ofWaikatopointofdifference,howstaffbecomeeffectiveadvocates

fortheinstitutionandwhatcanbedonetoensuregeneralstaffare

appropriatelyappreciatedfortheirworkefforts.

ToenhanceinternationalisationattheUniversity,anewpositionof

DirectorofInternationalBusinesswascreatedin2014andSharon

Calvertwasappointedtothisrolefromabackgroundininternational

tertiaryrelations.She’sresponsibleforenhancingandleveragingthe

University’sinternationalacademicnetworksandforconsolidating

theorganisation’sdiverseactivitiesintheinternationalspace.

DavidCraig,previouslyActingProVice-ChancellorandDirector

MarketingandExternalRelationsatAustralianCatholicUniversity

beganastheUniversityofWaikato’sHeadofCommunications

andExternalRelationsDivisioninmid-2014.Sincethenthe

Divisionhasworkedwithanewlyappointedadvertisingagency

todevelopandlaunchanewbrandstrategyand2015student

recruitmentcampaigns.

In2014,UniversityofWaikatostaffwonthreecategoriesinthe

KuDosScienceAwards,whichcelebratescientificachievementin

theWaikatoregion.ProfessorCraigCarywontheEnvironmental

ScienceAward,AdvancedTechnicalOfficerChrisMcBridewonthe

HillLaboratoriesLabTechnicianAwardandEmeritusProfessorRoy

AKO AWARDSManyUniversityofWaikatostaff

receivedexternalacknowledgement

during2014,butmostnotablyTeReo

MāoriandTikangalecturerEnoka

MurphyfromtheSchoolofMāori&

PacificDevelopmentwasawarded

aSustainedExcellenceawardfor

teachinginakaupapaMāoricontext

atthe2014AkoAotearoaTertiary

TeachingAwards.Theawardsaimto

recogniseandencourageexcellencein

tertiaryeducation,atanationallevel.

TheUniversityofWaikatohasastrong

historyinwinningtheseawards.

38

Staff cont.

TOTAL NET AREA OF BUILDINGS FOR TEACHING RESEARCH AND ADMINISTRATION

119,852m²


Making a difference the focus for Director of Māori Advancement

ForJosephMacfarlaneacupofteamadeallthedifference.

Itwasoveracupofteain2001thathelandedajobattheUniversity

ofWaikato,andeventhenitwasn’tthejobheappliedfor.“Iapplied

totheSchoolofMāori&PacificDevelopmentforajobteachingthe

TreatyofWaitangi,”hesays.

“Followingmyinterviewforthatposition,Ireceivedaphonecallfrom

theDean,matuaTamatiReedy–nowSirTamati–andmatuaHirini

Melbourne.Theyaskedmetoconsideranalternativeposition,asa

supportpersonformatuaTamati,whowasjuststartinginhisroleas

thefoundingPVCM(ProVice-ChancellorMāori).Igotinvitedbackto

theUniversityforacupofteaandgotthejob,soIwasafoundingstaff

memberofPVCM.”

AsidefromworkingwithTeWānangaoAotearoain2013,MrMacfarlanehasbeenhereeversinceandisnowthe

University’sDirectorofMāoriAdvancement,arolehesaysis“reallyaboutsupportingtheUniversitytoupholdthe

Māoridimensionsofitsdistinctiveness”.

MrMacfarlaneisthemainarchitectofthejust-adoptedUniversityMāoriAdvancementPlanandsaysthenewversionhas

moreteeththanthepreviousone.“Thestrengthofthisisinitsdevelopment,”hesays.“Wehadreallywideengagement

withseniorstaffandgotbuy-infromthemandsign-offonwhattheycouldcontribute.AlltheDeans,theProVice-

Chancellors,divisionheads,andotherseniorleadersoftheUniversity.”

Theplan,hesays,“setsoutmyworkforthenextthreeyears,deliveringandnurturingit”.

It’sonlypartofhisjob,ofcourse,withotheraspectsincludingsupportingPVCMandSMPDDeanProfessorLindaSmith.

“Supportingourcommunityofstaff,supportingstudentparticipationandsuccessandthestudentexperience,and

strengtheningcommunityengagementandpartnerships,thosearethemajorpriorities,”hesays.

“Beinginclusiveisthekey.Māoristudents,staffandcommunitiesarepriorityareas,yes,butsupportingourwiderstudent

andstaffcommunitytoupholdandtocelebratetheUniversity’sMāoridistinctivenessisalsoakeyconsideration.”

Alongwithbeingalong-servingstaffmember,MrMacfarlaneisalsoaUniversityalumnus,studyinglawtomasterslevelin

the1990s.

DanielwontheLifetimeAchievementAward.Hiscareerspanned38yearsduringwhichheestablishedaninternational

reputationforhisresearchonthermostableenzymesandtheircommercialimplications.

ProfessorNeilBoisterfromTePiringa-FacultyoflawwasawardedaFreidrichWilhelmBesselResearchAward(worth

€45,000)bytheGerman-basedAlexandervonHumboldtFoundationinrecognitionofhisachievementininternational

criminallawresearch.

ProfessorofPopulationEconomicsattheNationalInstituteofDemographicandEconomicAnalysis(NIDEA)Jacques

PootwasselectedtobeaNZ-UKLinkFoundationVisitingProfessortotheUKfor2015.Thesevisitingprofessorships

wereestablishedin2010,andthefirstonewasawardedtoProfessorofLawandPublicPolicyMargaretWilson,from

WaikatoUniversity.

39


Students

MERIT AND EXCELLENCE

SCHOLARSHIPS AWARDED

462

EdnaMoneybequeatheda

sizeableamountofmoney

totheUniversityofWaikato.

ThesubsequentEdnaMoney

FuturePacificLeaders

Scholarshipsareworth$6,000

ayearforuptothreeyears.

The University of Waikato is committed to delivering its students

a curriculum that exceeds their needs, and prepares them to

work and lead in a new global marketplace.

Tomarkits50thanniversary,in2014theUniversityofWaikato

presented10GoldenJubileeSchoolLeaverScholarships,eachworth

$10,000ayearforuptofouryears.

Morethan200studentsfromacrossNewZealandappliedforthe

scholarship,withapplicantshavingtodemonstrateahighlevelof

academicexcellence,leadershippotentialandcommunitycitizenship.

Aspartofthescholarship,thestudentswilldevelopleadershipskills

throughatailoredpersonaldevelopmentprogrammeandwillbe

encouragedtoputtheseskillsintopractice.

In2014,165studentstookpartintheSirEdmundHillaryScholarship

programme.Thisflagshipprogrammeeducatesfutureleaders

accordingtothevaluesofNewZealand’sgreatestadventurer,

SirEdmundHillary.SirEdmundHillaryscholarsmustexcelin

academia,leadership,sportsorthecreativeandperformingarts.

SeveralHillaryscholarsachievedoutstandingresultsintheirchosen

fieldsin2014.TheseincludeNicolevanderKaaybeingselectedfor

TriathlonNewZealand’shighperformancesquad,KristieBailliebeing

selectedforthe4x400mrelaysquadattheGlasgowCommonwealth

Games,FelicityLeydon-Davissecuringanannualcontractwith

NewZealandCricketandrowersZoeStevensonandCalebShepherd

bothbeingcrownedworldchampions.

Latein2014,accomplishedpianist,musicstudentAndrewLeathwick

wasacceptedintotheAustralianNationalAcademyofMusiconafull

scholarshipcoveringfeesandlivingcosts.It’soneofthefewmusical

institutionsintheworldthatfullyfundsstudents.Duringhistime

atWaikato,Andrewwonmanyawardsandcompetitions,including

the46thNationalConcertoCompetition,theUniversityofWaikato

2013CulturalandArtsPersonoftheYearAward,andtheSirEdmund

HillaryMedal.

MeanwhileengineeringstudentLindiEngelbrechtreapedthebenefits

ofherhardworkin2014,winningtwoscholarshipsandtwoawardsin

closeproximity.Shewona$6000FreemasonsUniversityScholarship;

a$5,000EnergyEducationTrustScholarship;theNewZealand

FederationofGraduateWomen(NZFGW)WaikatoGraduateWomen

EngineeringPrizeforthemostoutstandingfemalestudentinherthird

yearofstudytowardsanengineeringdegree;andalsoreceivedthe

InstituteofChemicalEngineer’s(IChemE)SocietyofChemicalEngineers

NewZealand(SCENZ)AwardofExcellenceforthetop2013student

atWaikatoUniversitystudyingchemicalandprocessengineering.

CELEBRATING SUCCESS: 10 secondary school students were awarded Golden Jubilee Scholarships worth up to

$40,000 to begin their studies at Waikato in 2015.¨


Degree

Taught Postgraduate

Research Postgraduate

Sub-degree

7,824

1,168576335

PhDchemistrystudentOnyekachiRaymondwonOctober’sThree

MinuteThesis(3MT)finalwithhispresentation:“TheBeautyWithout

theBeast:AChemicalSearchforBeryllium’sPartner”.Berylliumis

anindispensablebuttoxicmetalusedinhigh-techdevicessuchas

smartphonesandcomputers.Raymond’sresearchlooksatfinding

chemicalagentsthathelpremoveberylliumfromtheseproducts

whentheyaredisposedof.TheNigerianstudentalsowonthePeople’s

ChoiceAward,andwillrepresenttheUniversityofWaikatoatthe

Trans-Tasman3MTinAustraliain2015.

First-yearmusicstudentPaulNewton-Jackson,aSirEdmundHillary

scholar,becamethe50thNewZealandertobeawardedtheGirdlers’

ScholarshiptostudyatCambridgeUniversity’sCorpusChristiCollege.

Hehopesthe£25,000ayearscholarshiptostudyMusicComposition

willenablehimtobringthemusicofyoungNewZealandcomposers

tointernationalaudiences.

Severalothersignificantstrategicscholarshipswerelaunchedbythe

Universityduring2014.

TheUniversityofWaikatoExcellenceScholarshipforAsiaprogramme

isspecificallyaimedathighachievinginternationalstudentsfrom

China,HongKong,Japan,India,Indonesia,Malaysia,Vietnam,

Singapore,thePhilippines,SouthKorea,TaiwanandThailand.It

providesfinancialaidofupto$10,000forpre-degree,undergraduate

orpostgraduateprogrammes.

TheUniversityalsolaunchedtheEdnaMoneyFuturePacificLeaders

Scholarships,fundedbyalargebequestfromtheestateofthelate

MorrinsvilleaccountantandfarmerEdnaMoney.Thesescholarships

willprovidesupportforstudentstoachieveacademicallyanddevelop

leadershipskillsthroughatailoredleadershipandpersonaldevelopment

programme.Threescholarshipswillbeofferedeachyearforfull-time

students.They’reworth$6,000ayearforuptothreeyears.

TheUniversityofWaikato’ssixflagshipResearchInstitutesoffer

doctoralandmastersscholarshipstosupportworld-classresearchin

environmentalscience,demographyandeconomicanalysis,business

andleadership,professionallearninganddevelopment,education,and

Māoriandindigenousdevelopment.Eachinstituteoffersadoctoral

scholarshipworth$22,000ayearplusfeesforthreeyears’full-time

study,andamastersscholarshipworth$12,000thatincludesafees

componentof$3,500.

TheNorthlandFutureLeadersScholarships,whichwereestablished

in2012,recognisethelong-standingrelationshipandstrongties

theUniversityhaswithsecondaryschoolsinthatregion.Selection

ismadeonthebasisofleadership,communityinvolvement,

STUDENT SUCCESSRowerZoeStevenson,picturedrightwithTeresaConnorsandTupuriaKing,wasnamedSportswomanoftheYearattheWallaceCorporationUniversityofWaikatoBluesAwardswhilesurflifesaverSamShergoldwasSportsmanoftheYear.

TupuriaKingwonthePouAhureaAwardforMāoriPersonoftheYearandreceivedaBlueforwakaama.CreativeandPerformingArtsPersonoftheYearwasTeresaConnors,whoalsoreceivedaBlueformusiccomposition.ShewasinvitedtofeatureworkattheTorontoInternationalElectroacousticSymposiumin2014.

42

Students cont.

EFTS BY LEVEL


contributiontoculturalandsportingactivitiesandother

factorsincludingcharacter,academicabilityandcommitment

tosucceed.Theannual$5,000scholarshipsareawardedto

candidateswhocanbenominatedbytheirschoolprincipals.

Asatisfactionsurveyofdomesticstudentsin2014found

studentswereoverwhelminglyhappywiththeUniversity,

scoringithighlyintermsoflearning,living,supportandarrival

oncampus.

Thesurveyof3,257domesticstudentsincludedthosewho

studyoncampus,anddistancelearners.Ofthe3,257cohort,

37%tookpartinthesurvey.Thisisanexcellentresponserate–

theaverageglobalresponserateforthissurveyis21%.

Thesurveyfound93%ofstudentswereeithersatisfiedorvery

satisfiedoverallwiththeUniversity.Thiscomparesfavourably

withasimilarsurveyofinternationalstudentsin2013which

recordeda94%overallsatisfactionrate.

Teachingqualityscoredhighly,asdidthecampusenvironment,

accommodationandoverallsupport.Othernotablehighlights

includedtheexpertiseofthelecturers,classsizes,aneco-

friendlyattitude,disabilitysupport,enrolmentofficesupport

andfacultysupport.

Thestudentsatisfactionsurveywillberepeatedin2015for

internationalanddomesticstudents,givingstudentsfurther

opportunitiestoprovidefeedback.

43

Waikato graduate selected for Imperial College London doctoral programme

UniversityofWaikatochemistrygraduateSophieSimjoined12topyoungscientistsfromaroundtheworldatImperial

CollegeLondonin2014,whenshewasselectedtoparticipateintheNexGenAgriChemInnovativeDoctoralProgramme.

TheprogrammeisfundedbySyngenta,oneoftheworld’slargestcropprotectioncompanies,andbringstogether

talentedsciencegraduatestoinvestigatewaystoimprovecropprotection.

“I’llbeusinganovelformofatechniquecalled2DInfra-redElectron-Vibration-VibrationSpectroscopytobetter

understandthemodeofactionofherbicidesonplantproteinsystems,whichwillimproveherbicidedesignand

contributetotheagrochemicalindustry,”saysSophie.

Theobjectiveofthethree-yearPhDprogrammeistonurtureearly-stageresearchersinawaythatcreatesanew

generationofmultidisciplinaryresearchers.

AlongwiththePhDresearch,theprogrammeincludeslectures,a

transferableskillscourseinsciencecommunicationandprofessional

internshipplacements.Networkingopportunitieswilltakeplace

duringindustryvisitstoSyngentainSwitzerlandandBayer

CropScienceinGermany.

“I’mreallyexcitedtohavethisopportunitytoresearchatoneofthe

top10universitiesintheworld,andinsuchavibrantcityasLondon,”

Sophiesays.HerinterestinchemistrywassparkedbyherYear10

ScienceteacherandfosteredbyherUniversitylecturers.

“Theskillsandpassioninstilledinmebytheexceptionalchemistry

andbiochemistrystaffduringmyBachelorofScienceandMaster

ofSciencedegreesattheUniversityofWaikatohaveallowedmeto

pursuemyidealcareerpath.”


Statistical Information

Total Students by Origin

2006 2007 2008 2009 2010 2011 2012 2013 2014

CoreRegion 8,714 8,347 8,333 9,234 8,845 8,732 8,863 8,799 8,523

InnerPeriphery 483 512 626 794 843 961 930 971 1,002

OuterPeriphery 519 527 521 585 551 561 506 537 525

Auckland 953 899 790 754 679 614 587 489 488

Wellington 168 142 131 188 169 181 156 165 153

SouthIsland 143 131 157 137 134 128 129 137 124

Overseas 1,581 1,482 1,448 1,397 1,421 1,386 1,350 1,246 1,417

Total 12,561 12,040 12,006 13,089 12,642 12,563 12,521 12,344 12,232

Total Qualifications Completed by Level

2006 2007 2008 2009 2010 2011 2012 2013 2014

Foundationcertificate 532 611 879 1,098 827 548 546 484 523

Degree-level 2,285 2,120 1,884 1,993 1,843 1,929 2,037 2,167 1,937

Graduate/Postgraduate 1,069 933 995 1,111 1,208 1,289 1,284 1,071 968

HigherDegree 50 73 53 54 71 105 73 83 92

Total 3,936 3,737 3,811 4,256 3,949 3,871 3,940 3,805 3,520


Total EFTS by Level

2006 2007 2008 2009 2010 2011 2012 2013 2014

Sub-degree 588 648 749 872 575 453 406 345 335

Degree 7,888 7,356 7,236 7,851 7,874 8,009 8,123 8,075 7,824

TaughtPostgraduate 1,018 1,033 1,028 1,149 1,205 1,159 1,117 1,161 1,168

ResearchPostgraduate 459 477 497 545 593 620 620 576 576

ACE 181 195 176 189 168 108 104 2 -

Total 10,134 9,708 9,685 10,606 10,415 10,349 10,371 10,159 9,904

Total EFTS by Source of Funding

2006 2007 2008 2009 2010 2011 2012 2013 2014

Ministry-Funded(excludingACE)

7,549 7,705 7,859 8,700 8,546 8,660 8,776 8,726 8,473

Full-CostInternational 2,370 1,767 1,615 1,669 1,664 1,543 1,461 1,408 1,401

Full-CostOther 34 40 36 49 38 37 30 24 29

ACE 181 195 176 189 168 108 104 2 -

Total 10,134 9,708 9,685 10,606 10,415 10,349 10,371 10,159 9,904


Statistical Information cont.

Total EFTS by Organisational Unit

2006 2007 2008 2009 2010 2011 2012 2013 2014

Arts&SocialSciences 2,043 1,931 1,849 2,054 2,091 2,060 2,185 2,227 2,143

Computing&MathematicalSciences

851 790 706 759 804 878 950 993 964

Education 1,832 1,792 1,932 2,266 3,061 2,905 2,871 2,568 2,322

Law 562 573 589 608 626 650 622 646 635

Māori&PacificDevelopment

307 298 274 278 274 302 283 263 226

Science&Engineering 898 887 875 916 918 974 1,003 1,047 1,103

WaikatoManagementSchool

2,878 2,597 2,536 2,664 2,641 2,580 2,455 2,416 2,512

OtherOrganisationalUnit

763 840 925 1,062 - - - - -

Total 10,134 9,708 9,685 10,606 10,415 10,349 10,371 10,159 9,904

Ratio of EFTS to Academic FTE (counting all Academic FTEs and EFTS)

2006 2007 2008 2009 2010 2011 2012 2013 2014

TotalAcademicFTE 648 625 643 633 654 646 637 640 636

TotalEFTS 10,134 9,708 9,685 10,606 10,415 10,349 10,371 10,159 9,904

Total 15.6 15.5 15.1 16.8 15.9 16.0 16.3 15.9 15.6


Research Revenue

2006 2007 2008 2009 2010 2011 2012 2013 2014

AnnualResearchRevenue

$20.805million

$23.295million

$21.894million

$27.838million

$27.464million

$31.077million

$29.693million

$28.666million

$27.969 million

AcademicFTE(Research)

466 465 492 450 449 441 442 448 451

ResearchRevenueperAcademicFTE(Research)

$44,646 $50,097 $44,500 $60,862 $61,111 $70,395 $67,179 $63,986 $62,015

Research Publication Count by Type

Books ChaptersConference

ContributionsCreative Works

Journals Other Total

Arts&SocialSciences 14 50 181 31 144 117 537


2 5 65 4 56 11 143

Education 12 55 118 3 164 62 484

Law 2 8 9 2 17 6 44


13 61 96 - 163 42 375

Science&Engineering 1 9 157 - 174 34 375

OfficeofDVC - 1 4 1 4 2 12

OfficeofPVCM(includesSMPD)

2 5 4 - 1 9 21

Total 46 194 704 41 723 283 1,991


Statistical Information cont.

Total Students by Ethnicity

2006 2007 2008 2009 2010 2011 2012 2013 2014

Pākehā/European 5,938 5,727 5,631 6,061 5,841 5,775 5,778 5,711 5,472

NewZealandMāori 2,239 3,217 2,230 2,451 2,300 2,339 2,343 2,290 2,254

PacificIslander 433 454 500 525 470 491 557 589 570

Chinese 2,242 1,674 1,405 1,383 1,301 1,182 1,181 1,130 1,252

Indian 288 293 320 402 416 428 456 419 447

Other 1,421 1,575 1,920 2,267 2,314 2,348 2,206 2,205 2,237

Total 12,561 12,040 12,006 13,089 12,642 12,563 12,521 12,344 12,232

Total Staff FTE

2006 2007 2008 2009 2010 2011 2012 2013 2014

Academic 648 625 643 633 654 646 637 640 636

OtherStaff 929 917 916 895 882 897 876 880 847

Total 1,577 1,542 1,560 1,528 1,537 1,543 1,513 1,520 1,483


Seniority of Total Academic Staff FTE

2006 2007 2008 2009 2010 2011 2012 2013 2014

Professors 88 87 84 84 82 81 86 81 82

AssociateProfessors 68 75 78 78 77 78 73 72 74

SeniorLectures 220 212 212 224 229 230 234 231 234

Lecturers 134 119 113 120 126 125 123 106 95

Other 139 132 156 128 140 131 122 150 151

Total 648 625 643 633 654 646 637 640 636

Total Staff FTE by Organisational Unit

2006 2007 2008 2009 2010 2011 2012 2013 2014

Arts&SocialSciences 178 174 1079 173 174 170 173 179 178


77 78 75 74 80 78 74 78 77

Education 302 300 285 292 381 386 363 367 342

Law 37 35 37 35 36 38 38 42 40

OfficeofPVCM(includesSMPD)

40 38 34 29 24 21 41 44 38

Science&Engineering 176 185 193 188 189 193 195 187 186


222 212 196 186 188 186 177 171 167

OtherOrganisationalUnit

544 519 561 551 465 471 452 452 455

Total 1,577 1,542 1,560 1,528 1,537 1,543 1,513 1,520 1,483


Auditor General Opinion


Auditor General Opinion cont.

54

Statement of Service Performance

The University of Waikato

Institutional Sustainability

2010 Actual

2011 Actual

2012 Actual

2013 Actual

2014 Target

2014 Actual

1. DeliverMFEFTSwithin100%-105%oftheUniversity’sapprovedInvestmentPlanfunding

101.7% 99.1% 101.6% 99.3%100-105%

98.8%

TheUniversity’sMixofProvisionfor2014wasmatchedtoitsSACfundingallocationandcomprised8,538MFEFTS.InMFEFTS

termstheUniversityachieved99.2%oftarget(ashortfallof65EFTS).Infundingterms,theUniversityachieved98.8%oftarget.

ThevalueoftheEFTSshortfallagainstTEC’s99%thresholdwasapproximately$140,000.

Teachereducationenrolmentsdeclinedsignificantlyin2014,althoughthedeclinewaspartiallyoffsetbyanincreaseinenrolments

intheFacultyofManagement.Enrolmentsinengineeringqualificationsalsoincreasedin2014,forthesixthsuccessiveyear.

MFenrolmentsintheFacultiesofArts&SocialSciences,Computing&MathematicalSciences,Law,andMāori&Pacific

Developmentweresteadyincomparisonwith2013.

MFEFTSacrosstheUniversity’stwoSummerSchoolsemesters(Ssemester–January/February,andTsemester–November/

December)havegrownsteadilysince2010.Tsemesterenrolmentshavegrownsignificantlyoverthepastthreeyears(2012:109

MFEFTS;2013:203MFEFTS;2014:224MFEFTS).TheTsemestergrowthin2014wasmainlyattributabletotheFacultiesof

Arts&SocialSciences(up22EFTSover2013),Computing&MathematicalSciences(up9EFTSover2013)andManagement(up

16EFTSover2013).WhileTsemestergrowthhasbeenpositive,ithasbeenoffsettoanextentbyadeclineinenrolmentsinS

semestersince2011;TsemesternowgeneratessignificantlymoreEFTSthanSsemester.

2010 Actual

2011 Actual

2012 Actual

2013 Actual

2014 Target

2014 Actual

2. AchievetargetsforFCIEFTS1,664EFTS

1,543EFTS

1,461EFTS

1,408EFTS

1,647EFTS

1,401 EFTS

Thetargetof1,647FCIEFTSin2014wassetbytheUniversityin2012aspartofthedevelopmentofitsInvestmentPlanfor2013-

2015.ThistargetreflectedtheUniversity’splansandgoalstoreversethemedium-termtrendofdecliningFCIEFTS.However,

once2013FCIenrolmentswerefinalised,thattargetfor2014wasregardedasunrealistic,andalowertargetwassetforbudget

purposesinordertomitigatethefinancialconsequencesoftheanticipatedshortfall.

TheshortfallinFCIenrolmentsin2014wasprimarilyatsub-degreelevelieinfoundationandEnglishlanguageprogrammes.

Alowersub-degreetargethasbeensetfor2015andreflectstheUniversity’sincreasedfocusoninternationalstudentrecruitment

intoqualificationsatundergraduatelevelandhigher.

FCIenrolmentsincreasedatundergraduatelevelin2014,primarilyasaresultofalargerintakeofShanghaiInternationalStudies

University(SISU)partnershipprogrammestudents.ThelargerintakeofSISUstudentsin2014willprovideastrongpipelineofFCI

enrolmentsinto2015.

TheUniversityhadanticipatedasignificantincreaseinFCIpostgraduateenrolmentsin2014asaconsequenceoftheintroduction

ofarangeof180-point(oneyear)mastersprogrammesduring2013.WhileFCIenrolmentsinmastersprogrammesdidincreasein

2014,theywereoffsetbyaconsequentialdeclineinenrolmentsinpostgraduatediplomas,meaningthatoverall,FCIpostgraduate

enrolmentswerelowerthanin2013.

Latein2014,thelargestcohortofFCIstudentsyetenrolledintheMasterofBusinessManagementqualification;thesestudents

willcreateapositivepipelineofpostgraduateenrolmentsinto2015.


ChinacontinuedtobetheUniversity’smaininternationalstudentmarket,andin2014boththenumberandproportionofFCI

EFTSgeneratedbystudentsfromChinaincreased.OfparticularnotewastheincreaseinthenumberofstudentsfromMalaysia

in2014,upfrom32EFTSin2013to50EFTSin2014.

MostFCIenrolmentsin2014wereinbachelorsdegrees,withsignificantgrowthintheBachelorofBusinessAnalysis(+15%over

2013),BachelorofEngineeringwithHonours(+26%over2013)andBachelorofTourism(+45%over2013).

2010 Actual

2011 Actual

2012 Actual

2013 Actual

2014 Target

2014 Actual

3. IncreasetheproportionofrevenuegeneratedbytheUniversityfromnon-studentandnon-NewZealandgovernmentsources

12.7% 13.3% 13.0% 14.4% >14.4% 14.6%

ThisKPIrelatestorevenuefromallsourcesotherthanteaching(ieotherthanstudenttuitionfeesandtheStudentAchievement

ComponentoftheGovernmentGrant)andotherthanGovernment-fundedresearchactivity.Itincludesrevenuegeneratedfrom

studentaccommodationaswellascommercialactivitiesacrosstheUniversitygroup.

Theachievementofthistargetwaspredominatelythroughincreasesindonationsandinterestincome.

2010 Actual

2011 Actual

2012 Actual

2013 Actual

2014 Target

2014 Actual

4. Maintainalowriskrating(≥3)againsttheTEC’sFinancialMonitoringFramework

3.0 4.0 4.3 4.0 ≥3.0 Low Risk

TheTertiaryEducationCommissiondiscontinueditsannualassessmentofTEIfinancialperformanceagainstitsFinancial

MonitoringFrameworkfrom2014,buthasadvisedthatbasedontheUniversity’sauditedresultsforthepreviousyearand

three-yearforecastsprovidedinMay2014,theFMFmodelindicatednochangetotherisklevelof“low”achievedin2013.

Participation and Performance

Proportion MF TPG and above overall

2010 Actual

2011 Actual

2012 Actual

2013 Actual

2014 Target

2014 Actual

5. IncreaseproportionofMFEFTSenrolledatTPGlevelandabove

18.0% 17.7% 16.9% 16.9% 17.3% 17.7%

TheUniversity’stargetforMFEFTSattaughtpostgraduatelevelandabovein2014wasachieved,withparticularlystronggrowth

intaughtpostgraduateprogrammes.

ItisparticularlypositivetonotethatwhiletheproportionofMFEFTSgeneratedattaughtpostgraduatelevelgrewin2014

(10.9%comparedwith10.3%in2013),thenumberalsoincreased(923EFTScomparedwith900EFTSin2013).Masters

programmesintheFacultyofEducationandtheBachelorofEngineeringwithHonourswerethelargestcontributorstogrowth

attaughtpostgraduatelevelin2014.

56



ResearchpostgraduateEFTSremainedsteadyincomparisonwith2013bothasaproportionofMFEFTS(6.8%in2014compared

with6.6%in2013)andinnumber(576EFTSineachof2013and2014).

Inits2013AnnualReport,theUniversityreportedaspikeinbachelorswithhonoursenrolments,mostlikelylinkedtochanges

toStudentAllowancepoliciesin2012;butthepatternhasnotcontinuedin2014.MFtaughtpostgraduateEFTSgenerated

inbachelorswithhonoursqualificationsoverallweredownin2014butwereoffsetbyasignificantincrease(18%)intaught

postgraduateEFTSinmastersqualifications(predominatelyin180-pointmastersdegrees).

MF under 25s participation

2010 Actual

2011 Actual

2012 Actual

2013 Actual

2014 Target

2014 Actual

6. IncreasevolumeofMFEFTSgeneratedbystudentsagedunder25

5,657EFTS

5,734EFTS

5,882EFTS

5,985EFTS

5,993EFTS

5,835 EFTS

WhilethetargetagainstthisKPIwasnotachievedinrealterms,thenumberofMFEFTSgeneratedbystudentsagedunder

25didincreaseforthesecondconsecutiveyearasaproportionoftotalMFEFTS(68.9%comparedwith68.6%in2013and

67.0%in2012).

Numbersofschool-leaversincreasedin2014bothasahead-countandintermsofEFTS,andwerethehighestbybothmeasures

since2009.

Ofparticularnotewastheincreaseinboththenumber(77EFTScomparedwith72EFTSin2013)andproportion(15.0%

comparedwith13.6%in2013)ofMFEFTSgeneratedbyPacificschool-leaversin2014.

MF Māori student participation

2010 Actual

2011 Actual

2012 Actual

2013 Actual

2014 Target

2014 Actual

7. IncreasevolumeofMFEFTSgeneratedbyMāoristudents

1,773EFTS

1,846EFTS

1,925EFTS

1,867EFTS

2,000EFTS

1,859 EFTS

8. IncreaseproportionofMFMāoriEFTSenrolledatTPGlevelandabove

13.8% 15.1% 15.1% 13.4% 15.5% 15.4%

Studentsself-reporttheirethnicityeachyear,andthefiguresreportedfromoneyeartothenextarethereforeasnapshotintime

andmayvaryfromdatapublishedinpreviousAnnualReports.Studentsmayreportuptothreeethnicities.

ThenumberofMFEFTSgeneratedbystudentswhoself-reportedasMāoriin2014wasverysimilartothenumberin2013and

wasconsistentwithageneralupwardtrendsince2008;theproportionofMFEFTSgeneratedbyMāoristudentsincreasedfrom

21.4%in2013to21.9%in2014.

TheproportionofMFEFTSgeneratedbyMāorischool-leaversin2014remainedsteadycomparedwithpreviousyearsataround13%.

MFEFTSgeneratedbyMāoristudentsattaughtpostgraduatelevelandaboveincreasedsignificantlyin2014(285EFTScompared

with250EFTSin2013),withthemostsignificantgrowthinmastersdegrees,particularlyintheMasterofEducation,Masterof

EducationalLeadershipandthenewMasterofTeachingandLearning(inwhichMāoristudentsmadeup28%ofallEFTS).

In2011theUniversityintroducedanewstreamforitsMasterofBusinessAdministration(MBA)inconjunctionwiththeTainui

EndowedCollege;athirdintakeintothisstreamcommencedin2014,leadingtoasignificantincreaseinMāoriEFTSintheMBAin

2014.MāoristudentEFTSinotherpostgraduatequalifications,includingPhDs,remainedsteadyincomparisonwith2013.


MF Pacific student participation

2010 Actual

2011 Actual

2012 Actual

2013 Actual

2014 Target

2014 Actual

9. IncreasevolumeofMFEFTSgeneratedbyPacificstudents

427EFTS

425EFTS

489EFTS

530EFTS

550EFTS

509 EFTS

10.IncreaseproportionofMFPacificEFTSenrolledatTPGlevelandabove

13.8% 12.7% 13.1% 11.4% 13.0% 11.9%

Studentsself-reporttheirethnicityeachyear,andthefiguresreportedfromoneyeartothenextarethereforeasnapshotintime

andmayvaryfromdatapublishedinpreviousAnnualReports.Studentsmayreportuptothreeethnicities.

WhilethenumberofMFEFTSgeneratedbyPacificstudentsfellslightlyin2014,itremainedsteadyasaproportionofMFEFTS

overall(6.0%comparedwith6.1%in2013).

ItisalsopositivetonotethatasaproportionofPacificMFEFTSoverall,thosegeneratedbyPacificstudentsattaught

postgraduatelevelandaboveincreasedfrom11.4%in2013to11.9%in2014.

AsnotedinrelationtoKPI6above,theincreaseinboththenumber(77EFTScomparedwith72EFTSin2013)andproportion

(15.0%comparedwith13.6%in2013)ofMFEFTSgeneratedbyPacificschool-leaversin2014wasparticularlypositive.

TheconsiderablegrowthintheheadcountofPacificstudentsfromSouthAucklandgeneratedin2013wassustainedin2014

(2012:89students;2013:118students;2014:113students).

Typically,over85%(measuredinEFTSterms)oftheUniversity’sstudentswhoreporttheirethnicityasPacificareMinistry-

Funded.TheremainderareFCIEFTSandarenotrepresentedinthesedata.(FCIEFTSgeneratedbyPacificstudentshaveincreased

steadilyeachyearandalmostdoubledbetween2007(38EFTS)and2014(70EFTS).)

MF educational performance overall2010

Actual2011

Actual2012

Actual2013

Actual2014

Target2014

Interim

11. Maintainsuccessfulcourse(paper)completionratesforMFstudentsoverall

87.4% 87.1% 86.4% 85.2% 86.0% 84.1%

12.ImprovequalificationcompletionratesforMFstudentsoverall

71.3% 77.9% 81.5% 83.8% 73.0% 77.6%

13. MaintainretentionratesforMFstudentsoverall 82.5% 84.4% 86.0% 85.4% 84.0% 86.0%

MF under 25s educational performance

14.Maintainsuccessfulcourse(paper)completionratesforMFstudentsagedunder25

86.5% 86.3% 85.7% 84.1% 86.0% 83.6%

15. ImprovequalificationcompletionratesforMFstudentsagedunder25

63.3% 65.9% 71.9% 73.0% 64.0% 68.8%

16.MaintainretentionratesforMFstudentsagedunder25

83.8% 86.2% 88.2% 87.5% 86.0% 86.8%

58



MF Māori student educational performance2010

Actual2011

Actual2012

Actual2013

Actual2014

Target2014

Interim

17. Improvesuccessfulcourse(paper)completionratesforMFMāoristudents

80.7% 81.8% 81.4% 80.2% 84.5% 78.1%

18.ImprovequalificationcompletionratesforMFMāoristudents

60.4% 61.5% 67.7% 80.7% 72.0% 59.5%

19. ImproveretentionratesforMFMāoristudents 72.7% 77.5% 79.4% 79.7% 82.5% 81.3%

MF Pacific student educational performance

20.Improvesuccessfulcourse(paper)completionratesforMFPacificstudents

72.7% 73.2% 71.1% 65.1% 79.0% 68.2%

21. ImprovequalificationcompletionratesforMFPacificstudents

48.3% 59.9% 69.7% 44.6% 68.0% 49.1%

22.ImproveretentionratesforMFPacificstudents 75.1% 76.5% 81.8% 80.9% 81.0% 77.2%

2014resultsagainsttheseeducationalperformanceindicatorsaresubjecttoconfirmationbytheTertiaryEducation

CommissionfollowingthesubmissionoftheApril2015SingleDataReturn;finalresultswillbereportedinsubsequent

StatementsofServicePerformance.

Thewidevariationsinqualificationcompletionratesfromyeartoyearcanbeattributedinparttothemethodologyforcalculating

thoserates,thenatureofwhichmeansthatincreasesordecreasesincohortsizecanhaveastatisticallysignificantimpact;

thisisespeciallyevidentinsmallstudentgroups(egamongMāoriandPacificstudents).Thedeclineinqualificationcompletion

ratesin2014canbeattributedlargelytoanincreasingproportionofnewstudentsinconjunctionwithadecreasingnumber

andproportionofreturningstudentsoverthepasttwoyears;thispatternhasbeenevidentacrossallMFstudentgroups.

Akeyfactorinthedropinpapercompletionratesin2014forallgroupsidentifiedintheeducationperformancedataabove

(MFstudentsoverall,MFunder25s,MFMāori,andMFPacific)wasthelargerproportionofstudentsreceivingIC(Incomplete),

WD(Withdrawn)andgradedfailsin2014.TheproportionofstudentsreceivingICandWDgradesandgradedfailshasincreased

eachyearsince2010.Asaconsequenceprocessesandpoliciesassociatedwiththeadmissionandre-enrolmentofstudents,

especiallythosewhohavenotmetthenormalcriteriaforadmissionandre-entry,arebeingmonitoredverycarefully.Criteria

forenrolmentinpaperswithpatternsofrelativelyhighfailratesarealsoregularlyreviewed,alongwiththelearningsupport

provisionforat-riskstudents.

Full-Cost International student educational performance

2010 Actual

2011 Actual

2012 Actual

2013 Actual

2014 Target

2014 Actual

23.Maintainsuccessfulcourse(paper)completionratesforFCIstudents

85.1% 85.0% 86.5% 87.5% 86.0% 88.1%

24. ImprovequalificationcompletionratesforFCIstudents

78.9% 69.9% 72.6% 86.9% 71.0% 96.4%

25.MaintainretentionratesforFCIstudents 90.9% 90.6% 87.6% 90.9% 84.0% 91.6%


2014resultsagainsttheseeducationalperformanceindicatorsaresubjecttoconfirmationfollowingthefinalisationof2014data

inApril2015;finalresultswillbereportedinsubsequentStatementsofServicePerformance.

FCIstudentresultsagainsttheseeducationalperformanceindicatorsremainedstrongin2014.

Whenmeasuredinactualterms,ratherthanasarate,thevolumeofqualificationcompletionsbyFCIstudentsin2014washigher

thanin2013(845comparedwith784in2013).Whenmeasuredasarate,qualificationcompletionscanbeskewedbychanges

incohortsizefromoneyeartothenext.InthecaseofFCIstudents,thecontinuedincreaseinthequalificationcompletionrate

in2014canbeattributedlargelytothefallincohortsizeoverrecentyears.Itwillalsohavebeeninfluencedbythecontinued

declineinthenumberandproportionofEFTSgeneratedbyenrolmentsinsub-degreequalifications(namelytheCertificate

ofAttainmentinAcademicEnglish,theCertificateofAttainmentinEnglishLanguageandtheCertificateofAttainmentin

FoundationStudies),whichtypicallyhavelowercompletionrates.

Research Performance

2010 Interim

2011 Interim

2012 Interim

2013 Interim

2014 Target

2014 Interim

26.Increaseresearchdegreecompletions(RDCs) 690 739 691 681 735 729

HistoricresultsagainstthisKPIhavebeenupdatedsincepreviousAnnualReportstotakeaccountofadditionalcompletions

recordedsincethen.The2014resultagainstthisindicatorisalsosubjecttochangeovertime.

TheUniversity’sRDCvolumeswerebolsteredin2014bythecompletionofthreeRDC-eligiblemastersthesesinTeReoMāori,

eachofwhichgeneratedanethnicityweightingoffourtimesthenormalrate.

EnrolmentsinRDC-eligiblemasterstheseshavedeclinedin2014asaconsequenceoftheintroductionof180-pointtaught

mastersqualifications,whicharenoteligibleforRDCfunding.ItisanticipatedthatthenumberofRDC-eligiblemasters

enrolmentswillcontinuetodeclineincorrelationwiththeincreasingtrendinfavourof180-pointmastersqualifications,

withaconsequentialimpactontheUniversity’sRDCfunding.

2010 Actual

2011 Actual

2012 Actual

2013 Actual

2014 Target

2014 Actual

27. IncreasetheUniversity’sresearchanddevelopment(R&D)revenue

$41.6M $49.7M $45.5M $48.6M $52.M $46.9M

Researchanddevelopment(R&D)revenueinthecontextofthisKPI:

Counts

» Researchrevenue(thesumofboth‘PBRF-eligibleexternalresearchincome’and‘non-PBRFeligibleresearchrevenue’(thesetermsaredefinedindetailbytheTECforPBRFpurposes))

» Professionaldevelopmentcontractrevenue

» ‘Otherincome’(asdefinedintheUniversity’sStatementofComprehensiveIncome)generatedbyFaculties

» DonationsmadedirectlytoFaculties.

60



Excludes

» ‘OnPlan’InvestmentPlanfunding(comprisingStudentAchievementComponent,PerformanceBasedResearchFund,EquityLoadingandAdultLiteracyEducatorGrants)

» Studentfees

» DonationsotherthanthosemadedirectlytoFaculties

» Interestincome.

TheUniversitydidnotachieveitsresearchanddevelopmenttargetof$52Min2014,mainlyduetolowerresearchrevenue($0.7M

belowthevolumeachievedin2013)andprofessionaldevelopmentcontractrevenue($0.9Mbelowthevolumeachievedin2013).

2003 Actual

2006 Actual

2009 Actual

2012 Actual

2014 Target

28. IncreasetheproportionoftheUniversity’sacademicstaffwhoareinternationallyrecognisedfortheirresearch(equivalenttoAandBqualityscoresagainstPBRFcriteria),assessedthroughatwo-yearlyinternalformativeprocessusingAcademicStaffPortfolios

34%(PBRF)

44%(PBRF)

46.5%(FRE)

54.4%(PBRF)

55% (internal

formative process)

Theinternalformativeprocessundertakenin2014wasmodelledontheprocessesandcriteriathatapplyinthenationalPBRF

assessment.Resultsareexpectedbymid-2015,andwillbeusedtohelptheUniversityprepareforthe2018PBRFround.

Organisational Culture: Staff and Students

2009 Actual

2012 Actual

2014 Target

2014 Actual

29.MaintaintheoverallresponserateintheUniversity’sthree-yearlystaffengagementsurveyand

66% 67% 67% 68%

a.improvetheresultinthe‘Progress’ indexand

48% 57% >57% 58%

b.maintaintheresultinthe‘JobSatisfaction’scale

82% 83% 83% 83%

TheUniversityachievedorexceededitstargetsrelatedtothe2014staffsurvey.

The‘Progress’indexintheUniversity’sstaffengagementsurveyismadeupofthreescales:

» OrganisationObjectives

» ChangeandInnovation

» Customer/StakeholderSatisfaction.


Theresultsfromthesurveywillbeusedto:

1. buildengagementwithmanagementandstaffthroughthecommunicationofresultsanddemonstratingthattheUniversitywilltakeactiononthebasisofstafffeedbackthroughthesurvey

2. identifywherechangeisneededandtoworkwithseniormanagerstodevelopplanstoaddressthoseareas

3. identifysitesofgoodpracticeandusetheseasmodelstospringboardchangeacrosstheinstitution

4. identifystaffperceptionswithrespecttoprojectscurrentlyunderwayandusetheseperceptionsasabenchmarkformeasuringchangeinfuturesurveys.

2008 Actual

2010 Actual

2012 Actual

2014 Target

30. Inthetwo-yearlyAUSSEandPOSSEsurvey a. improveresultsinthe‘OverallSatisfaction’scale

AUSSE:72% AUSSE:71% AUSSE:>71%AUSSE:

>2012 result

– POSSE:74% POSSE:>74%POSSE:

>2012 result

b. improveresultsinthe‘CareerReadiness’scale

– AUSSE:37% AUSSE:>37%AUSSE:

>2012 result

– POSSE:41% POSSE:>41%POSSE:

>2012 result

Adecisionwasmadeinearly2014toadoptthei-graduateDomesticStudentBarometer(SB)surveyinplaceoftheAUSSE

(AustralasianSurveyofStudentEngagement)andPOSSE(PostgraduateSurveyofStudentEngagement)surveys;many

NewZealanduniversities,includingtheUniversityofWaikato,havebeenusingthei-graduateInternationalStudent

Barometer(ISB)surveyforanumberofyears.

AtrialSBsurveywasundertakenduringtheyear.WhiletheUniversityofWaikatoiscurrentlytheonlyNewZealanduniversity

usingtheSBsurvey,theUniversity’sresultsagainstinternationalinstitutionalbenchmarksforboththeSBandISBin2014have

beenstrong,asfollows:

2014 Student Survey Results

UoW SB Result

Global SB Average

UoW ISB Result

Global ISB Average

Studentsatisfactionratingwithoveralluniversityexperience

93% 90% 91% 87%

Studentsatisfactionratingwithlearningexperience 91% 87% 88% 86%

Studentsatisfactionratingwithstudentsupportservices

93% 90% 91% 88%



Reputation

2010 Actual

2011 Actual

2012 Actual

2013 Actual

2014 Target

2014 Actual

31. ImprovetheUniversity’sannualrankingintheQSWorldUniversityRankingandTHEWorldUniversityRankingexercises

QS:316= QS:357 QS:374QS:

401-410QS:

<401-410QS:

401-410

THE:Onlytop200

publishedTHE:318 THE:302 THE:311

THE:<311

THE: 391

Inthe2014QSWorldUniversityRankings,theUniversityofWaikatomaintaineditsrankingof401-410;inthe2014THE

UniversityRankingstheUniversityfellto391(from311in2013);thefallcanbeattributedprimarilytodecreasesinthe

University’sinternationalstudentenrolments,lowervolumesofstaffpublicationsandlowercitationrates.

In2014,theUniversityofWaikatowasranked44thintheTHEtop100universitiesunder50yearsofageandwasthetop

rankedNewZealanduniversity,from46ththepreviousyear,and58thin2012.(TheotherNewZealanduniversitieswhomet

thecriteriaforthisrankingwereMassey,AUTandLincoln.)TheUniversityofWaikatowillnotqualifyfortheunder50years

ofagecategoryafter2014.


TheUniversityofWaikatoisasignatorytotheWomenEmpowerment

PrincipleswhicharearesultofacollaborationbetweenUNWomenand

theUNGlobalCompact.Theprinciplesofferguidanceforbusinesseson

howtheycanempowerwomenintheworkplaceandcommunity.

TheUniversityofWaikatoiscommittedtotheprincipleof

equalopportunityforallstaffandstudentsinbotheducation

andemployment.ItsEEOProgrammeisfocusedonincreasing

representationandopportunitiesforwomen,MāoriandPacific

staff,particularlyinseniorpositionsandinsomeoccupationalareas.

Overallstaffcompositionis40%male,60%female,10%Māoriand

4.1%Pasifika.

AnEEOassessmentin2013helpedidentifycareerdevelopmentissues

andhasledtothedevelopmentofasetofindicatorstomeasure

progress.The2014staffengagementsurveyrevealedthemajority

believethereisacommitmenttogenderequity.

Amentoringprogrammeisinplacethatincludesone-to-one

mentoring,mentoringgroupsandpeerconversationsandtheUniversity

iskeentodevelopadatabaseofmentoringstaffacrosstheUniversity

andplanstorunsomementoringworkshopstodevelopstaffwith

suitableexpertisetobecomecapablementors.

DevelopedbytheFacultiesofEducationandManagementwiththe

supportoftheSchoolofMāori&PacificDevelopment,theUniversity

nowoffersaPostgraduateCertificateinLeadershipinHigherEducation.

Ithasbeendesignedtodeveloptheskillsrequiredtoleadandmanage

strategyandoperationswithdiversegroupsorteamswithinauniversity,

polytechnicorwānanga.

ThesixthWomeninLeadershipDaywasheldoncampusin2014,

bringingtogethermorethan300womenacademicsandgeneralstaff

repsfromalldivisionsandfaculties.ThethemewasLeadingfrom

aplaceofknowing–thatis,onceweunderstandourselveswecan

thensuccessfullyworkwithandleadothers.Topicsincludedwork-life

balance,creativethinking,workingsuccessfullyasanindividual,and

togetherinorganisationsandcommunities.

MeanwhilefiveUniversityofWaikatostaffattendedtheNewZealand

WomeninLeadershipProgrammein2014.

ALUMNA RETURNSUniversityofWaikatoalumnaPaula

Southgate,chairoftheWaikatoRegional

Council,hassuccessfullycontestedfive

electionssince1991.Askeynotespeaker

atthe2014WomeninLeadershipdayshe

talkedaboutcollaboration–workingwith

peopleandsharingthedecision-making,

enablingorganisationstobedrivenfurther

inthefastesttimeframe.

WomeninLeadershipDayattractsa

goodmixofacademicandgeneralstaff

fromacrosstheHamiltonandTauranga

campusesandisalsoopentostafffrom

othertertiaryinstitutions.

EEO Statement

European

Asian

Unstated

Pacific Peoples Middle Eastern/Latin American/African

1,010

84

4320 3

STAFF ETHNICITY AT UOW 2014

Māori

Other

140

102

64 The University of Waikato64 The University of Waikato

Compulsory Students Services Fees for 2014

CompulsoryStudentServicesfees

Incomefromothersources

Total Income Total Costs Net Cost

Advocacy and legal advice 157,741 - 157,741 239,296 81,555

Careers information, advice and guidance, employment information

374,930 12,763 387,694 568,778 181,084

Counselling services and pastoral care 1,056,509 319,901 1,376,410 1,602,746 226,337

Employment information 9,888 - 9,888 15,000 5,112

Financial support and advice 399,631 - 399,631 606,249 206,618

Health services 1,006,334 633,857 1,640,192 1,526,631 (113,561)

Media 73,302 - 73,302 111,200 37,898

Childcare services 142,516 - 142,516 216,200 73,684

Clubs and societies 69,215 - 69,215 105,000 35,785

Sports, recreation and cultural activities 373,710 - 373,710 566,926 193,216

Total 3,663,775 966,521 4,630,297 5,558,026 927,729

(Over)/Under Recovery 927,729

Advocacy and legal advice Aprofessional,independent,freeandconfidentialserviceisprovidedtoassiststudentswithUniversity-relatedissuessuchasadministrativeproblems,disciplinaryproceedingsandcomplaints;andpersonalissuessuchaslandlorddisputes,budgeting,legalproblems,suddenandunexpectedfinancialdifficulty.

Careers information, advice and guidanceStudentsareprovidedwith:

» Careeradviceandguidancethatwillassistthemtotransitionintoemployment

» InterviewandCVworkshops

» Courseanddegreeguidancethatsupportsstudentsintheirpathwaytowardsgoodcareerandemploymentoutcomes.

TheUniversityestablishesandmaintains:

» Relevantstudentdestinationdataandindustrytrendsinformation

» Arangeofcareer-specificeventsthatcontributetograduatecareeroutcomes

» Abroadrangeofrelationshipswithexternalstakeholderstoenhancecareeroutcomeopportunitiesforstudents.

Employment information Servicesinclude:

» ManagementofonlinevacanciesthatprovideWaikatostudentsandgraduateswith24/7accesstojobvacancies,careerarticles,eventsandnews

» Provisionofstafftoorganisecareerfairs,exposandothergraduaterecruitmentprogrammes

» AccesstoStudentJobSearch

» Managementofinternshipsandotheropportunitiesforworkexperience

» Managementofemployerrelationshipsthatenablestudentstohaveopportunitiestoengagewithprospectiveemployers.

Counselling services and pastoral care Studentsareprovidedwithaccesstofreecounsellingserviceswhichhelpstocreateasafeandhealthycampusenvironmentandenhancesthestudentexperienceandcontributestoacademicachievement.

Abroadrangeofpastoralcareservicesareavailablethatareculturallyappropriateandrecognisethediversityofthescholarlycommunity.

TheUniversityprovidesemergencyresponsestoincidentsthatimpactthewelfareofstudentsandtheprovisionofrecoveryandcrisisresolutionfunctions.

Student Services Levy

Financial support and advice Servicesinclude:

» Provisionofbudgeting,financialplanningandtuitionfeemanagementadvicetostudents

» Providingcomprehensivesupportforallstudentallowanceandloanmatters

» Provisionoffinancialadvicetoprospectivestudentsandtheirparents

» AdministrationoftheStudentAssistance(Hardship)Fund,Equitygrantsandawards

» Provisionofadviceinrelationtothepreparationofbudgetsandfinancialstatementsforscholarshipapplicants.

Health services Servicesinclude:

» Provisionofafullgeneralpracticemedicalcareservice

» Provisionofspecialistadviceandservicestostudentswithimpairmentstoenablethemtofullyparticipateinthestudentexperienceandsucceedintheirstudies

» Adviceforstaffoncreatinganinclusiveeducationenvironmentforstudentswithadisabilityormedicalcondition.

MediaStudentmediacontractwithWSU–ensuringUniversity

ofWaikatostudentsareprovidedwithinformationandnews

byandforstudents.Thisisprovidedviaprintandinternet-

basedmedia.

Childcare services TheUniversityprovidestheearlychildcarebuildingsand

outdoorareasoncampusatnocost.

Clubs and societies TheUniversity,inclosepartnershipwithWSU,ULeisureandthe

WaikatoUniversityCombinedSportsClubs(WUCS),provides:

» Supporttoallclubs(political,cultural,faith-based,ethnic,sportsandacademic)andclubhubs

» Meetingrooms,activityspacesandresourcesforclubstobookanduse

» Arangeofcommunicationmechanismstoregularlyinformstudentsandclubsofopportunities,servicesandsupport.

Sports, recreation and cultural activities TheUniversity,inclosepartnershipwithWSU,ULeisureandthe

WaikatoUniversityCombinedSportsClubs(WUCS),provides:

» Co-ordinatingandrunningofsportsleagues

» Organisingandsupervisingarangeofsport,recreationandculturalactivities

» Establishinglinkstoothercommunityactivitiesforstudents

» Initiatingotheractivitiesidentifiedthroughrecreationalforumsorsuggestionsfromstudents

» Providingrecreationalfacilitiesincludingsecurity,cleaning,bookings,maintenance,onsitesupportandimprovementofthefacilities

» Providingvenuesfor,hostingandsupportingstudentevents

» Providingstudentcommonrooms

» Sponsorshipforstudentinitiatives

» Recognitionofstudentsportingandculturalachievements.

Statement of the Cost of OutputsTheUniversityrecognisesfourbroadclassesofoutputthatresultfromitsactivities.Theseoutputsareteachingandlearning,externalresearch,servicesandproducts(otherthanteachingandlearning)providedtostudentsandallotherservicesand

productsprovided.Thefollowingtableprovidesananalysisofthecostofprovidingtheseoutputs.

This Year Budget Last Year

$000 $000 $000

Outputs

TeachingandLearning 150,570 149,967 149,280

Research 34,534 34,455 47,150

StudentServicesandProducts 10,616 10,190 11,093

OtherServicesandProducts 20,433 17,202 8,687

Total 216,153 211,814 216,210



Financial Overview 2014

TheUniversityofWaikatocelebrateditsfirst50yearsin2014andnowlooksforwardtothenext50yearsinasoundfinancial

position.2014continuedtobechallengingfortheUniversity,withconstraintsaroundrevenuegrowthandsubjecttogreater

pressuresofcompetitionandexternalinfluencesoutsideofitscontrol.For2014,theUniversityhadanticipatedadecreaseinrevenue

particularlyaroundgovernmentsourcedfunding,researchandcommercialactivities.HowevertheUniversitybudgetedtomaintain

itssurplusat4percentofrevenue–consistentwithpreviousyearsandnecessaryinorderfortheUniversitytofunditson-going

capitalrequirements.Astheyearprogressed,thegreatestchallengetheUniversityfacedwasmeetingitsstudentenrolmenttargets

–bothministryfundedandfullcostinternationalstudents–andconsiderableadditionalresourceswereemployedduringtheyearto

ensurethatthetargetswereachieved.

TheUniversityGrouprecordedasurplusof$11.59million,up19.5percenton2013’ssurplusof$9.69million.The2014surplus

representsa5.0percentreturnonrevenue.Thissignificantimprovementinthesurplusislargelyduetotheimprovedfinancial

performanceofUniversitysubsidiaryWaikatoLinkLimited,andthedonationsearnedthroughtheUniversityofWaikatoFoundation

Trust.ThefinancialperformanceoftheUniversity’scoreactivities(ieteachingandresearch)islargelyinlinewiththepreviousyear.

WaikatoLinkLimitedrecordedasurplusof$2.30million,asignificantimprovementfromthedeficitof$0.58millionrecordedin2013

andthe$3.19milliondeficitrecordedin2012.Theimprovementinperformanceislargelyduetoachangeinconsolidationtreatment

ofanassociatecompany(previouslytreatedasasubsidiary)resultingina$1.2millionliftinvalue.WaikatoLinkalsosolddownits

equitystakeinsubsidiariesrecordingagainof$0.3million.TheothersignificantresultintheUniversityGroupwasrecordedbythe

UniversityofWaikatoFoundationTrustwithasurplusof$2.31millionin2014,up$1.07millionon2013asaresultofincreased

donationsreceived.WithintheFoundation,anendowmentfundestablishedin2013nowhasinvestmentsof$2.13millionatyear

end(2013–$1.7million).TheUniversityonlysurplusof$9.19millionis$0.77millionlessthanbudgetandismarginallyless($0.16

million)thanthepreviousyear.Thisrepresentsareturnof4.1percentontotalrevenue(2013–4.1percent)andiswellinsidethe

guidelinesof3.0–5.0percentpromulgatedbytheTertiaryEducationCommission.

Theconsolidatedrevenuefor2014oftheUniversityGroupwas$230.06million,similartothepreviousyearof$230.87million.

TheUniversitytotalrevenueof$225.34millionin2014wasalsolargelyunchangedfrom2013revenueof$225.56million,but

wassignificantlyuponbudgetedrevenueof$221.77million.Themajorincreasesinrevenueonbudgetwasresearchrevenue,with

theFacultyofScience&Engineeringexceedingitsbudgettargetsby$2.7million,advisoryservicesgrantsandothercommercial

contractswithintheFacultyofEducationupatotalof$4.33milliononbudget.

Whiletotalrevenuewaslargelyunchanged,GovernmentgrantsreceivedforministryfundedEFTSin2014weredown$0.93million

duetolessstudentsbeingfunded,aswellas2014researchincomebeingdown$0.70millioncomparedto2013.Offsettingthese

falls,wasanincreaseintuitionfeeincomeof$1.62millionwhich,inspiteofthenumberofequivalentfull-timestudents(EFTS)

decreasingby2.9percentbetween2013and2014,tuitionfeerateincreasesmeantthatoveralltuitionfeeincomeincreasedby2.3

percent.TheUniversityenrolledatotalof8,473MinistryFundedEFTS,or98.8percentofitsinvestmentplantarget(2013–8,726

MinistryFundedEFTS).

FullcostinternationalEFTSwereconsistentwiththeprioryear,withtheUniversityenrolling1,401EFTSin2014(2013–1,408).

However,theUniversitybudgetedforgrowthinFullCostEFTSin2014andonlyenrolled93.1percentofitsbudgetedtarget.This

resultedinashortfallinrevenueof$1.81millioncomparedtobudget.Since2004,fullcostinternationalEFTShavefallenby1,486

or51.5percent.

Researchrevenuewas7.9percentor$2.06millionhigherthanbudget,howeveritwas2.4percentdownon2013.Thiswasthethird

successiveyearofdecliningresearchrevenueandreflectsthelimitedpoolofresearchfundingavailableinNewZealandplusthe

pressureofcompetitionbetweenUniversitiesaswellasCrownResearchInstitutesforfunds.Thereisalsoashiftinresearchfunding

withfundingagenciesrequiringahigherlevelofcollaborationbetweeninstitutionsinordertowinresearchcontracts.

Thisisresultinginmorecollaborations,sharedincomeandsub-contractingactivity.


TheUniversityputinsignificantefforttocontrolcostsduring2014.Whererevenuegrewinresearchandcommercialcontracts,there

wasacorrespondingincreaseinexpenditureastheUniversityincreaseditsactivitiestomeetitscontractualcommitments.

TheUniversityalsoincreaseditsmarketingandrecruitmentexpenditurein2014by$1.2millioninstrivingtomeetitsstudent

enrolmenttargets.However,theUniversitywasabletoreducecostsinitsteachingactivitiesandsupportservices.Asaresult,

whiletotalrevenuedecreasedby$0.22millionor0.1percent,personnelandothercostsreducedby$0.49millionor0.3percent.

TheUniversityGroupagaingeneratedstrongoperatingcashflows,recordingnetcashflowsfromoperationsof$39.58million,

significantlyuponthepreviousyearby$15.42million(or63.8percent).ThesecashflowswerereinvestedbackintotheUniversity’s

campusandresources,withtheUniversityspending$22.18milliononcapitalexpenditure.Capitalexpenditureisdownonbudgetdue

tothetimingofthecompletionofprojectsslippinginto2015.During2014,theconstructionofthenewfacilities($27millionproject)

fortheFacultyofLawandFacultyofManagementwerestartedwithconstructionduetobecompletedbytheendof2015.

ThestrongcashflowsandthedelayinthetimingofcapitalprojectshasmeantthattheUniversity’scashbalancesandotherfinancial

assetshavegrownto$35.92million,up$14.55millionor68.1percenton2013balancesof$21.37million.

TheUniversityrevalueditsland,buildingsandinfrastructureassetsasat31December2014resultingina$20.87millionor7.1

percentincreaseinvalue.ThisrevaluationisrecordedintheStatementofComprehensiveincomeandgivesrisetothetotal

comprehensiveincomefortheyearof$32.46million.Norevaluationwascompletedin2013.

OveralltheUniversityachievedapleasingfinancialresultinwhatwasdifficultoperatingconditions.TheUniversityiswellplacedto

facethefinancialchallengesahead,butitsabilitytoachieverevenuegrowthintheyearstocomeinatightlycontrolledandhighly

competitivemarketwhilebuildingonitsinternationalreputationremainsitsbiggestchallenge.

Andrew McKinnon

CHIEFFINANCIALOFFICER


Statement of Responsibility

Inthefinancialyearended31December2014,theCouncilandmanagementofTheUniversityofWaikatowereresponsiblefor:

1. Thepreparationoftheannualfinancialstatementsandstatementofserviceperformance,andthejudgementsusedinthem;

2. Establishingandmaintainingasystemofinternalcontroldesignedtoprovidereasonableassuranceastotheintegrityand

reliabilityoffinancialreporting;and

3. IntheopinionofCouncilandmanagementofTheUniversityofWaikato,theannualfinancialstatementsandstatementof

serviceperformanceofthefinancialyearended31December2014fairlyreflectthefinancialpositionandoperationsofThe

UniversityofWaikatoandgroup.

CHANCELLOR

Rt Hon Jim Bolger

18March2015

VICE-CHANCELLOR

Professor Neil Quigley

18March2015


Financial Statements

Statement of Comprehensive Income

Fortheyearended31December2014CONSOLIDATED UNIVERSITY

Notes This Year Last Year This Year Budget Last Year

REVENUE $000 $000 $000 $000 $000

GovernmentFundingandGrants 2 99,819 101,623 99,819 96,265 101,623

TuitionFees 3 72,000 70,379 72,000 73,857 70,379

Research 27,969 28,666 27,969 25,910 28,666

InvestmentIncome 13 2,114 1,654 1,807 1,300 1,690

OtherIncome 4 25,459 27,077 23,114 24,409 22,727

Donations 2,699 1,467 632 30 475

Total Revenue 230,060 230,866 225,341 221,771 225,560

COSTS

PersonnelCosts 5 129,341 128,287 126,585 124,842 125,481

OtherCosts 6 68,390 72,772 69,362 65,812 70,958

Finance 162 290 161 160 161

Depreciation,AmortisationandImpairment

16,17 20,727 19,970 20,045 21,000 19,610

Total Costs 218,620 221,319 216,153 211,814 216,210

ShareofSurplus/(Deficit)fromAssociatesandJointVentures

7 147 147 - - -

Surplus 11,587 9,694 9,188 9,957 9,350

Surplus Attributable to:

UniversityofWaikato 12,337 9,418 9,188 9,957 9,350

Non-ControllingInterest (750) 276 - - -

Surplus 11,587 9,694 9,188 9,957 9,350

Other Comprehensive Income:

GainsonPropertyRevaluations 8 20,872 - 20,872 - -

TotalOtherComprehensiveIncome 20,872 - 20,872 - -

Total Comprehensive Income 32,459 9,694 30,060 9,957 9,350

The University of Waikato70


Statement of Changes in Equity

Fortheyearended31December2014

CONSOLIDATED UNIVERSITY


$000 $000 $000 $000 $000

OpeningEquityat1January 353,285 342,947 335,343 335,343 325,993

ComprehensiveIncome

Surplus 11,587 9,694 9,188 9,957 9,350

OtherComprehensiveIncome 8 20,872 - 20,872 - -

TotalComprehensiveIncome 32,459 9,694 30,060 9,957 9,350

StaffShareOptionsandCapitalIssued (667) 724 - - -

MinorityInterestRepurchase - (80) - - -

Closing Equity at 31 December 385,077 353,285 365,403 345,300 335,343

Attributable to:

UniversityofWaikato 8 385,092 352,550 365,403 345,300 335,343

Minorityinterest (15) 735 - - -

385,077 353,285 365,403 345,300 335,343

Theaccompanyingnotesformanintegralpartof,andshouldbereadinconjunctionwith,thisstatement.

Statement of Comprehensive Income continued



$000 $000 $000 $000 $000

Comprehensive Income Attributable to:

Universityof Waikato 33,209 9,418 30,060 9,957 9,350


Total Comprehensive Income for the Year 32,459 9,694 30,060 9,957 9,350

Explanationsofmajorvariancesagainstbudgetareprovidedinnote29.


Annual Report 2014 71

Balance Sheet

Asat31December2014CONSOLIDATED UNIVERSITY


ASSETS $000 $000 $000 $000 $000

Current Assets

CashandCashEquivalents 9 10,577 5,252 9,767 4,112 4,652

TradeandOtherReceivables 10 20,865 24,483 18,156 12,032 21,969

DerivativeFinancialInstruments 11 2 - 2 - -

InterCompanyBalances 12 - - 6,896 7,028 7,028

Prepayments 4,171 5,111 4,171 5,111 5,111

OtherFinancialAssets 13 25,342 16,117 22,014 14,000 14,000

Inventories 14 1,014 1,070 1,014 1,070 1,070

Total Current Assets 61,971 52,033 62,020 43,353 53,830

NON CURRENT ASSETS

InvestmentsinAssociatesandJointVentures 7 3,481 1,887 467 467 467

Investments 15 403 403 2,198 2,598 2,198

LoansandReceivables 10 - 30 - - -

IntangibleAssets 16 11,471 12,803 5,670 6,170 6,170

Property,PlantandEquipment 17 380,182 355,880 380,171 368,366 355,836

Total Non Current Assets 395,537 371,003 388,506 377,601 364,671

Total Assets 457,508 423,036 450,526 420,954 418,501

LIABILITIES

Current Liabilities

IncomeinAdvance 18 30,467 26,708 30,460 26,952 26,689

UniversityofWaikatoResearchTrustPayable 12 - - 13,511 14,230 14,230

TradeandotherPayables 19 15,072 17,516 14,560 8,933 17,099

EmployeeEntitlements 5 13,318 12,659 13,018 12,272 12,272

Borrowings 20 4 3 4 3 3

Total Current Liabilities 58,861 56,886 71,553 62,390 70,293

The University of Waikato72


Balance Sheet continued

Asat31December2014CONSOLIDATED UNIVERSITY


LIABILITIES $000 $000 $000 $000 $000

Non Current Liabilities

EmployeeEntitlements 5 12,248 11,539 12,248 11,938 11,539

Borrowings 20 1,322 1,326 1,322 1,326 1,326

Total Non Current Liabilities 13,570 12,865 13,570 13,264 12,865

EQUITY

GeneralEquity 8 229,756 218,204 210,067 210,954 200,997

OtherReserves 8 155,336 134,346 155,336 134,346 134,346

Equity–Parent 385,092 352,550 365,403 345,300 335,343


Total Equity 385,077 353,285 365,403 345,300 335,343

Total Liabilities and Equity 457,508 423,036 450,526 420,954 418,501


Annual Report 2014 73

Statement of Cash Flows

Fortheyearended31December2014CONSOLIDATED UNIVERSITY

CASH FLOWS FROM OPERATING ACTIVITIES


$000 $000 $000 $000 $000

Cash was provided from:

GovernmentFundingandGrants 99,701 101,789 99,701 86,198 101,789

RevenuesfromTuitionFees 75,861 69,953 75,861 73,856 69,953

OtherRevenue 58,498 52,186 55,935 62,450 47,746

InterestReceived 1,849 1,773 1,807 1,300 1,690

GoodsandServicesTax(net) (316) 499 (306) - 499

235,593 226,200 232,998 223,804 221,677

Cash was applied to:

InterestPaid (170) (178) (161) (168) (161)

Suppliers (70,160) (73,109) (72,853) (65,804) (71,264)

Employees (125,688) (128,755) (123,809) (124,442) (126,670)

(196,018) (202,042) (196,823) (190,414) (198,095)

Net Cash Flows from Operating Activities 21 39,575 24,158 36,175 33,390 23,582

CASH FLOWS FROM INVESTING ACTIVITIES

Cash was provided from:

IssueofShareCapital (666) 679 - - -

CashDividends - 25 32 - 142

Property,PlantandEquipmentSales 303 11 303 - -

InvestmentinAssociates - 408 - - 408

RepaymentsfromInvestmentEntities 111 - - - -

ShortTermInvestments (1,009) 1,112 - - -

(1,261) 2,235 335 - 550


AdvancetoInvestmentEntity (410) (248) (2) - -

ShortTermInvestments (9,364) (4,759) (8,014) (400) (2,955)

Intangibles (742) (1,888) (904) - (1,567)

PropertyPlant&Equipment (22,470) (22,413) (22,472) (33,530) (22,406)

(32,986) (29,308) (31,392) (33,930) (26,928)

Net Cash Flows from Investing Activities (34,247) (27,073) (31,057) (33,930) (26,378)





CASH FLOWS FROM FINANCING ACTIVITIES $000 $000 $000 $000 $000


TermInvestments - - - - (350)

RepaymentsofFinanceLeaseLiabilities (3) (6) (3) - (6)

Net Cash Flows from Financing Activities (3) (6) (3) - (356)

Net Cash Flows From All Activities 5,325 (2,921) 5,115 (540) (3,152)

OpeningCashandCashEquivalents 5,252 8,173 4,652 4,652 7,804

Closing Cash and Cash Equivalents 10,577 5,252 9,767 4,112 4,652

TheGoodsandServicesTax(GST)(net)componentofoperatingactivitiesreflectsthenetGSTpaidtoandreceivedfromthe

InlandRevenueDepartment.TheGST(net)componenthasbeenpresentedonanetbasis,asthegrossamountsdonotprovide

meaningfulinformationforfinancialstatementpurposes.


Statement of Cash Flows continued

Fortheyearended31December2014


Note 1: Statement of accounting policies for the year ended 31 December 2014

The Reporting EntityTheUniversityofWaikato(theUniversity)isapublicbenefitentity,domiciledinNewZealand,constitutedasauniversityunder

theUniversityofWaikatoAct1963fortheadvancementofknowledgeandthedisseminationandmaintenancethereofby

teachingandresearch.

ThefinancialstatementswereauthorisedforissuebyCouncilon18March2015.

ThefinancialstatementscoveralltheactivitiesoftheUniversityandGroupincludingthoseof:

» WaikatoLinkLimitedandGroup,awhollyownedsubsidiarycompany,andtheresultsfortheyearended31December2014havebeenfullyconsolidatedintotheUniversitygroupresults.

» TheUniversityofWaikatoFoundation,incorporatedasaCharitableTrustin1992,andtheresultsfortheyearended31December2014havebeenfullyconsolidatedintotheUniversitygroupresults.

» TheUniversityofWaikatoAlumniAssociation,incorporatedin1990,andtheresultsfortheyearended31December2014havebeenfullyconsolidatedintotheUniversitygroupresults.

» TheStudentCampusBuildingFundTrust,incorporatedasaCharitableTrustin1971,andtheresultsfortheyearended31December2014havebeenfullyconsolidatedintotheUniversitygroupresults.

» TheUniversityofWaikatoResearchTrust,incorporatedasaCharitableTrustin2007,andtheresultsfortheyearended31December2014havebeenfullyincorporatedintotheUniversitygroupresults.

» iEngagEdLimited,awhollyownedsubsidiarycompany,andtheresultsfortheyearended31December2014havebeenfullyconsolidatedintotheUniversitygroupresults.

» ULeisureLimitedis50%ownedbytheUniversity.Theremaining50%isownedbytheWaikatoStudents’Union(Incorporated).ULeisureLimitedcommencedoperationsfrom1August1996,replacingtheStudentUnionServicesManagementBoard.EquityAccountingmethodshavebeenusedtoreporttheresultsofULeisureLimitedwhichhasabalancedateof31December.

» LCoNewZealandLimitedis25%ownedbytheUniversity.Theremaining75%isownedbythreeotherNewZealanduniversities.LCoNewZealandLimitedwasincorporatedDecember2003.EquityAccountingmethodshavebeenusedtoreporttheresultsofLCoNewZealandLimitedwhichhasabalancedateof31December.

AlloftheUniversity’ssubsidiariesandassociatesareincorporatedinNewZealand.

Basis of PreparationStatement of Compliance

TheseaccompanyingfinancialstatementsarepresentedinaccordancewithSection203oftheEducationAct1989whichrefers

totheprovisionsoftheCrownEntitiesAct2004,andGenerallyAcceptedAccountingPracticeinNewZealand(NZGAAP).They

complywiththeNewZealandEquivalentstoInternationalFinancialReportingStandards(NZIFRS)andotherapplicablefinancial

reportingstandardsasappropriateforpublicbenefitentities.

Theaccountingpoliciessetoutbelowhavebeenappliedinpreparingthefinancialstatementsfortheyearended31December

2014andthecomparativeinformationpresentedinthesefinancialstatementsfortheyearended31December2013.

Measurement Basis

Thefinancialstatementshavebeenpreparedonanhistoricalcostbasis,adjustedbytherevaluationofcertainproperty,plant

andequipment.

Notes to the Financial Statements for the year ended 31 December 2014


Functional and Presentation Currency

ThefinancialstatementsarepresentedinNewZealanddollarsandallvaluesareroundedtothenearestthousanddollars($’000).

ThefunctionalcurrencyoftheUniversityisNewZealanddollars.Foreigncurrencytransactionsaretranslatedintothefunctional

currencyusingtheexchangeratesprevailingatthedatesofthetransactions.Foreignexchangegainsandlossesresultingfromthe

settlementofsuchtransactionsarerecognisedintheStatementofComprehensiveIncome.

Changes in Accounting Policies

Therehavebeennochangesinaccountingpoliciesfortheyearended31December2014.TheUniversityhasnotadoptedany

revisionstoaccountingstandardsduringthefinancialyear.

Standards, amendments, and interpretations issued that are not yet effective and have not been early adopted

Standards,amendments,andinterpretationsissuedbutnotyeteffectivethathavenotbeenearlyadopted,andarerelevanttothe

UniversityandGroupare:

» NZIFRS9FinancialInstrumentswilleventuallyreplaceNZIAS39FinancialInstruments:RecognitionandMeasurement.NZIAS39isbeingreplacedthroughthefollowing3mainphases:Phase1ClassificationandMeasurement,Phase2ImpairmentMethodology,andPhase3HedgeAccounting.Phase1ontheclassificationandmeasurementoffinancialassetshasbeencompletedandhasbeenpublishedinthenewfinancialinstrumentstandardNZIFRS9.NZIFRS9usesasingleapproachtodeterminewhetherafinancialassetismeasuredatamortisedcostorfairvalue,replacingthemanydifferentrulesinNZIAS39.TheapproachinNZIFRS9isbasedonhowanentitymanagesitsfinancialinstruments(itsbusinessmodel)andthecontractualcashflowcharacteristicsofthefinancialassets.ThefinancialliabilityrequirementsarethesameasthoseofNZIAS39,exceptforwhenanentityelectstodesignateafinancialliabilityatfairvaluethroughthesurplusordeficit.Thenewstandardisrequiredtobeadoptedfortheyearended31December2017.However,asanewAccountingStandardsFrameworkwillapplybeforethisdate,thereiscurrentlynocertaintywhenanequivalentstandardtoNZIFRS9willbeappliedbypublicbenefitentities.

TheMinisterofCommercehasapprovedanewAccountingStandardsFramework(incorporatingaTierStrategy)developedby

theExternalReportingBoard(XRB).UnderthisAccountingStandardsFramework,theUniversityisclassifiedasaTier1reporting

entityanditwillberequiredtoapplyfullpublicsectorPublicBenefitEntityAccountingStandards(PAS).Thesestandards

developedbytheXRBaremainlybasedoncurrentInternationalPublicSectorAccountingStandards.Theeffectivedateforthe

newstandardsforpublicsectorentitiesisforreportingperiodsbeginningonorafter1July2014.ThismeansthattheUniversity

willtransitiontothenewstandardsinpreparingits31December2015financialstatements.TheUniversityisintheprocessof

assessingtheimplicationsofthenewAccountingStandardsFramework.

DuetothechangeintheAccountingStandardsFrameworkforpublicbenefitentities,itisexpectedthatallnewNZIFRSand

amendmentstoexistingNZIFRSwillnotbeapplicabletopublicbenefitentities.ThereforetheXRBhaseffectivelyfrozen

thefinancialreportingrequirementsforpublicbenefitentitiesupuntilthenewAccountingStandardFrameworkiseffective.

Accordingly,nodisclosurehasbeenmadeaboutneworamendedNZIFRSthatexcludepublicbenefitentitiesfromtheirscope.



Significant Accounting PoliciesBasis of Consolidation

Thepurchasemethodisusedtopreparetheconsolidatedfinancialstatements,whichinvolvesaddingtogetherlikeitemsofassets,

liabilities,equity,income,expensesandcashflowsonaline-by-linebasis.Allsignificantintragroupbalances,transactions,income

andexpensesareeliminatedonconsolidation.

TheUniversity’sinvestmentsinitssubsidiariesarecarriedatcostintheUniversity’sown“parententity”financialstatements.

Subsidiaries

TheUniversityconsolidatesassubsidiariesinthegroupfinancialstatementsallentitieswheretheUniversityhasthecapacityto

controltheirfinancingandoperatingpoliciessoastoobtainbenefitsfromtheactivitiesoftheentity.Thispowerexistswherethe

Universitycontrolsthemajorityvotingpoweronthegoverningbodyorwheresuchpolicieshavebeenirreversiblypredetermined

bytheUniversityorwherethedeterminationofsuchpoliciesisunabletomateriallyimpactthelevelofpotentialownership

benefitsthatarisefromtheactivitiesofthesubsidiary.

TheUniversitymeasuresthecostofabusinesscombinationastheaggregateofthefairvalues,atthedateofexchange,of

assetsgiven,liabilitiesincurredorassumed,inexchangeforcontrolofthesubsidiaryplusanycostsdirectlyattributableto

thebusinesscombination.

AnyexcessofthecostofthebusinesscombinationovertheUniversity’sinterestinthenetfairvalueoftheidentifiableassets,

liabilitiesandcontingentliabilitiesisrecognisedasgoodwill.IftheUniversity’sinterestinthenetfairvalueoftheidentifiable

assetsliabilitiesandcontingentliabilitiesrecognisedexceedsthecostofthebusinesscombination,thedifferencewillbe

recognisedimmediatelyintheStatementofComprehensiveIncome.

Associates

TheUniversityaccountsforaninvestmentinanassociateinthegroupfinancialstatementsusingtheequitymethod.Anassociate

isanentityoverwhichtheUniversityhassignificantinfluenceandthatisneitherasubsidiarynoraninterestinajointventure.

Theinvestmentinanassociateisinitiallyrecognisedatcostandthecarryingamountisincreasedordecreasedtorecognisethe

University’sshareofthesurplusordeficitoftheassociateafterthedateofacquisition.TheUniversity’sshareofthesurplusor

deficitoftheassociateisrecognisedintheUniversity’sStatementofComprehensiveIncome.Distributionsreceivedfroman

associatereducethecarryingamountoftheinvestment.

IftheUniversity’sshareofdeficitsofanassociateequalsorexceedsitsinterestintheassociate,theUniversitydiscontinues

recognisingitsshareoffurtherdeficits.AftertheUniversity’sinterestisreducedtozero,additionaldeficitsareprovidedfor,and

aliabilityisrecognised,onlytotheextentthattheUniversityhasincurredlegalorconstructiveobligationsormadepaymentson

behalfoftheassociate.Iftheassociatesubsequentlyreportssurpluses,theUniversitywillresumerecognisingitsshareofthose

surplusesonlyafteritsshareofthesurplusesequalstheshareofdeficitsnotrecognised.

TheUniversity’sshareintheassociate’ssurplusordeficitsresultingfromunrealisedgainsontransactionsbetweentheUniversity

anditsassociatesiseliminated.

TheUniversity’sinvestmentsinassociatesarecarriedatcostintheUniversity’sown“parententity”financialstatements.

Joint venture

InvestmentsinjointlycontrolledentitiesareaccountedforbytheGroupbyusingtheequitymethodofaccountingandare

initiallyrecognisedatcost.



Budget Figures

BudgetfiguresarethoseapprovedbytheFinanceCommitteeperminutesof24September2013fortheUniversityentity.

Howeversomelineitemshavebeensubsequentlyre-classifiedtoalignwiththeannualreportingformatandtoreflectopening

balancesfollowingcompletionofthe2013financialstatements.ThebudgetfigureshavebeenpreparedinaccordancewithNZ

GAAPandareconsistentwiththeaccountingpoliciesadoptedbytheCouncilforthepreparationofthefinancialstatements.

Cash flow Statement

Cash and Cash Equivalents

Cashmeanscashbalancesonhand,heldinbankaccounts,demanddepositsandotherhighlyliquidinvestmentsinwhichthe

Universityinvestsaspartofitsday-to-daycashmanagement.Cashequivalentsarenotsubjecttoasignificantriskofchangein

value,andhaveashortmaturityofthreemonthsorless.

Operating activities

OperatingactivitiesincludecashreceivedfromallincomesourcesoftheUniversityandrecordthecashpaymentsmadeforthe

supplyofgoodsandservices.

Investing activities

Investingactivitiesarethoseactivitiesrelatingtotheacquisitionanddisposalofnoncurrentassets.

Financing activities

FinancingactivitiescomprisethechangeinequityanddebtcapitalstructureoftheUniversity.

Revenue

Revenueismeasuredatthefairvalueofconsiderationreceivedorreceivable.DonationsandBequeststotheUniversityare

recognisedasincomewhenmoneyisreceived,orentitlementtoreceivemoneyisestablished;exceptwherefulfillmentofany

restrictionsattachedtothesemoniesisnotprobable.

ResearchrevenuederivedfromresearchcontractsisrecognisedintheStatementofComprehensiveIncomebasedonthestageof

completionoftheresearchprojectatBalanceSheetdate.TheunearnedrevenueisrecordedasaliabilityintheBalanceSheetto

recognisethefutureobligationtocompletetheresearchproject.

Surpluses,generatedfromexternallyfundedresearchprojectsandwhicharecommittedtofundcontinuingresearch,are

transferredtotheUniversityofWaikatoResearchTrustasagrant.TheUniversityofWaikatoResearchTrustaccountsforthese

grantsasrevenue.

GovernmentGrantsandstudenttuitionfeesarerecognisedasrevenueonacoursepercentageofcompletionbasis.

Interestincomeisrecognisedusingtheeffectiveinterestmethod.

Dividendsarerecognisedwhentherighttoreceivepaymenthasbeenestablished.

Borrowing Costs

TheUniversityhaselectedtodefertheadoptionoftherevisedNZIAS23BorrowingCosts(Revised2007)inaccordancewiththe

transitionalprovisionsofNZIAS23thatareapplicabletopublicbenefitentities.Consequently,allborrowingcostsarerecognised

asanexpenseintheperiodinwhichtheyareincurred.



Trade and Other Receivables

Tradeandotherreceivablesareinitiallymeasuredatfairvalueandsubsequentlymeasuredatamortisedcostusingtheeffective

interestmethod,lessanyprovisionforimpairment.

AprovisionforimpairmentofreceivablesisestablishedwhenthereisobjectiveevidencethattheUniversitywillnotbeableto

collectallamountsaccordingtotheoriginaltermofthereceivables.Theamountoftheprovisionisthedifferencebetweenthe

asset’scarryingamountandthepresentvalueoftheestimatedfuturecashflows,discountedusingtheeffectiveinterestmethod.

Employee entitlements

ProvisionismadeforbenefitsaccruingtostaffinrespectoftheUniversity’sliabilityforwagesandsalaries,andannualandsick

leavewhereitisprobablethatsettlementwillbemadeandtheyarecapableofbeingmeasuredreliably.Theseprovisionsare

calculatedusingthecurrentratesofpay.

TheUniversityrecognisesaliabilityforsickleavetotheextentthatabsencesinthecomingyearareexpectedtobegreaterthan

thesickleaveentitlementsearnedinthecomingyear.Theamountiscalculatedbasedontheunusedsickleaveentitlementthat

canbecarriedforwardatbalancedate,totheextentthattheUniversityanticipatesitwillbeusedbystafftocoverthosefuture

absences.Thesickleaveprovisionisonlycalculatedforthosestaffwithafixedsickleaveprovisionintheiremploymentcontracts.

ThemajorityofUniversitystaffhaveanunlimitedsickleaveentitlement.

Additionallyprovisionhasbeenmade,whereapplicable,usinganactuarialvaluationforretirementgratuitiesandlongservice

leave.Thisvaluation,asat31December2014,wasundertakenbyMercer(NZ)Limited(Actuaries).Thecalculationsarebasedon:

» Likelyfutureentitlementsaccruingtostaff,basedonyearsofservice,yearstoentitlement,thelikelihoodthatstaffwillreachthepointofentitlement,andcontractualentitlementinformation;and

» Thepresentvalueoftheestimatedfuturecashflows.

Expectedfuturepaymentsarediscountedusingmarketyieldsongovernmentbondsatbalancedatewithtermstomaturitythat

match,ascloselyaspossible,theestimatedfuturecashoutflowsforentitlements.Theinflationfactorisbasedontheexpected

long-termincreaseinremunerationforemployees.

ObligationsforcontributionstodefinedcontributionsuperannuationschemesarerecognisedasanexpenseintheStatementof

ComprehensiveIncomeasincurred.

Insufficientinformationisavailabletousedefinedbenefitaccounting,asitisnotpossibletodeterminefromthetermsofthe

NationalProvidentFundschemetheextenttowhichthesurplus/deficitwillaffectfuturecontributionsbyindividualemployers,

asthereisnoprescribedbasisforallocation.Theschemeisthereforeaccountedforasadefinedcontributionscheme.Further

informationontheseschemesisdisclosedinnote5.

Totheextentthatitisanticipatedthattheliabilitywillariseduringthefollowingyeartheentitlementsarerecordedascurrent

liabilities.Theremainderoftheanticipatedentitlementsarerecordedasnon-currentliabilities.

Equity

Equityisthecommunity’sinterestintheUniversityandGroupandismeasuredasthedifferencebetweentotalassetsandtotal

liabilities.Equityisdisaggregatedandclassifiedintoanumberofreservestoenablecleareridentificationofthespecifiedusesthat

CouncilandGroupmakeofitsaccumulatedsurpluses.Thecomponentsofequityare:

» GeneralEquity

» AssetRevaluationReserve

» RestrictedReserves



Accounting for derivative financial instruments, hedging activities and foreign currency transactions

TheUniversityusesderivativefinancialinstrumentstomanageitsexposuretoforeignexchangeriskarisingfromitsoperational

activities.TheUniversitydoesnotholdorissuethesefinancialinstrumentsfortradingpurposes.TheUniversityhasnotadopted

hedgeaccounting.

Derivativesareinitiallyrecognisedatfairvalueonthedateaderivativecontractisenteredintoandaresubsequentlyre-measured

totheirfairvalueateachbalancedate.Movementsinthefairvalueofderivativefinancialinstrumentsarerecognisedinthe

StatementofComprehensiveIncome.

Foreigncurrencytransactions(includingthoseforwhichforwardexchangecontractsareheld)aretranslatedintoNewZealand

dollarsusingtheexchangeratesprevailingatthedatesofthetransactions.Foreignexchangegainsandlossesresultingfrom

thesettlementofsuchtransactionsandfromthetranslationatyearendexchangeratesofmonetaryassetsandliabilities

denominatedinforeigncurrenciesarerecognisedintheStatementofComprehensiveIncome.

Income tax

IncomeTaxhasnotbeenprovidedforintheseaccountsastheUniversityhasbeenrecognisedasacharitableorganisationbythe

IRDandisthereforeexemptfromincometax.

Goods and services tax

GoodsandServicesTax(GST)isexcludedfromthesefinancialstatements,withtheexceptionofaccountsreceivableandaccounts

payable.WhereGSTisnotrecoverableasinputtaxthenitisrecognisedaspartoftherelatedassetorexpense.

ThenetamountofGSTrecoverablefrom,orpayableto,theInlandRevenueDepartment(IRD)isincludedaspartofreceivablesor

payablesintheBalanceSheet.

ThenetGSTpaidto,orreceivedfromtheIRD,includingtheGSTrelatingtoinvestingandfinancingactivities,isclassifiedasanet

operatingcashflowinthestatementofcashflows.

CommitmentsandcontingenciesaredisclosedexclusiveofGST.

Inventories

Inventoriesheldfordistributionorconsumptionintheprovisionofservicesthatarenotsuppliedonacommercialbasisare

measuredatcost(determinedonaweightedaveragebasis)adjustedwhenapplicableforanylossofservicepotential.This

valuationincludesallowancesforslowmovingandobsoleteinventories.Noaccountistakenofotherminorstocksinacademic

schoolsandadministrativedepartments,whichareexpensedasissued.

Inventoriesheldforuseintheproductionofgoodsandservicesonacommercialbasisarevaluedatthelowerofcostandnet

realisablevalue.ThecostofpurchasedinventoryisdeterminedusingtheFIFOmethod.

ThewritedownfromcosttonetrealisablevalueisrecognisedintheStatementofComprehensiveIncome.

Financial Assets

TheUniversityclassifiesitsfinancialassetsintothefollowingfourcategories:financialassetsatfairvaluethroughsurplusor

deficit,held-to-maturityinvestments,loansandreceivablesandfinancialassetsatfairvaluethroughothercomprehensive

income.Theclassificationdependsonthepurposeforwhichtheinvestmentswereacquired.Managementdeterminesthe

classificationofitsinvestmentsatinitialrecognitionandre-evaluatesthisdesignationateveryreportingdate.



Financialassetsareinitiallymeasuredatfairvalueplustransactioncostsunlesstheyarecarriedatfairvaluethroughsurplusor

deficitinwhichcasethetransactioncostsarerecognisedinsurplusordeficit.

Purchasesandsalesofinvestmentsarerecognisedontrade-date,thedayonwhichtheUniversitycommitstopurchaseorsellthe

asset.Financialassetsarede-recognisedwhentherightstoreceivecashflowsfromthefinancialassetshaveexpiredorhavebeen

transferredandtheUniversityhastransferredsubstantiallyalltherisksandrewardsofownership.

ThefairvalueoffinancialassetstradedinactivemarketsisbasedonquotedmarketpricesattheBalanceSheetdate.Thequoted

marketpriceusedisthecurrentbidprice.

Thefairvalueoffinancialinstrumentsthatarenottradedinanactivemarketisdeterminedusingvaluationtechniques.The

Universityusesavarietyofmethodsandmakesassumptionsthatarebasedonmarketconditionsexistingateachbalancedate.

Quotedmarketpricesordealerquotesforsimilarinstrumentsareusedforlong-termdebtinstrumentsheld.Othertechniques,

suchasestimateddiscountedcashflows,areusedtodeterminefairvaluefortheremainingfinancialinstruments.

Thefourcategoriesoffinancialassetsare:

» Financialassetsatfairvaluethroughsurplusordeficit

Thiscategoryhastwosub-categories:financialassetsheldfortrading,andthosedesignatedatfairvaluethroughsurplusordeficitatinception.Afinancialassetisclassifiedinthiscategoryifacquiredprincipallyforthepurposeofsellingintheshorttermorifsodesignatedbymanagement.Derivativesarealsocategorisedasheldfortradingunlesstheyaredesignatedashedges.Assetsinthiscategoryareclassifiedasnon-currentassetsunlesstheUniversityintendstodisposeoftheseinvestmentswithin12monthsoftheBalanceSheetdate.

Afterinitialrecognitiontheyaremeasuredattheirfairvalues.Gainsorlossesonre-measurementarerecognisedthroughsurplusordeficit.

Assetsinthiscategoryforthegroupincludelistedsecurities.

» Loansandreceivables

Thesearenon-derivativefinancialassetswithfixedordeterminablepaymentsthatarenotquotedinanactivemarket.

Afterinitialrecognitiontheyaremeasuredatamortisedcostusingtheeffectiveinterestmethod.GainsandlosseswhentheassetisimpairedorderecognisedarerecognisedintheStatementofComprehensiveIncome.TheUniversityincludesinloansandreceivables,cashandcashequivalents,otherfinancialassets,tradeandotherreceivables,andloanstoULeisureLtdandLCoNZ.

» HeldtoMaturityInvestments

HeldtomaturityinvestmentsareassetswithfixedordeterminablepaymentsandfixedmaturitiesthattheUniversityhasthepositiveintentionandabilitytoholdtomaturity.

Afterinitialrecognitiontheyaremeasuredatamortisedcostusingtheeffectiveinterestmethod.GainsandlosseswhentheassetisimpairedorderecognisedarerecognisedintheStatementofComprehensiveIncome.

DerivativesheldbytheUniversityareclassifiedasheldtomaturity.

» Financialassetsatfairvaluethroughothercomprehensiveincome.

Financialassetsatfairvaluethroughothercomprehensiveincomearethosethataredesignatedasfairvaluethroughothercomprehensiveincomeorarenotclassifiedinanyoftheothercategoriesabove.

Thiscategoryencompasses:

–InvestmentsthattheUniversityintendstoholdlong-termbutwhichmayberealisedbeforematurity;and

–ShareholdingsthattheUniversityholdsforstrategicpurposes.

–TheUniversityandGroup'sinvestmentsinitssubsidiaries,associatecompaniesandjointventuresarenotincludedinthiscategoryastheyareheldatcost(asallowedbyNZIAS27ConsolidatedandSeparateFinancialStatementsandNZIAS28InvestmentsinAssociates)whereasthiscategoryistobemeasuredatfairvalue.

Afterinitialrecognition,theseinvestmentsareheldattheirfairvaluewithgainsandlossesrecogniseddirectlyinothercomprehensiveincomeexceptforimpairmentlosses,whicharerecognisedinthesurplusordeficit.Onde-recognitionthecumulativegainorlosspreviouslyrecognisedinothercomprehensiveincomeisreclassifiedfromequitytothesurplusordeficit.



Impairment of Financial Assets

AteachBalanceSheetdatetheUniversityassesseswhetherthereisanyobjectiveevidencethatafinancialassetorgroupof

financialassetsisimpaired.Anyimpairmentlossesarerecognisedthroughsurplusordeficit.

Leases

Financeleases,whicheffectivelytransfertotheUniversitysubstantiallyalltherisksandbenefitsincidentaltoownershipofthe

leaseditem,arecapitalisedattheloweroffairvalueorpresentvalueoftheminimumleasepayments.Theleasedassetsand

correspondingliabilitiesaredisclosedandtheleasedassetsaredepreciatedovertheperiodtheUniversityisexpectedtobenefit

fromtheiruse.

Operatingleasepayments,wherethelessorseffectivelyretainsubstantiallyalltherisksandbenefitsofownershipoftheleased

items,areincludedinthedeterminationoftheoperatingprofitinequalinstalmentsovertheleaseterm.

Property, Plant and Equipment:

Land

In1996thelandoccupiedbytheUniversitycampuswastransferredbytheCrowntoWaikato-Tainui,aspartoftheCrown’s

settlementoftheRaupatuclaim.TheUniversityleasesbackthelandfromWaikato-Tainui.Compensationwaspaidtothe

Universityin1996bytheCrowntofundtheUniversity’sfinancialobligationsunderthelease.

Buildings

Themajorityofbuildingsrecognisedinthefinancialstatements,includingthepreviousHamiltonTeachers’Collegebuildings,

arestillsubjecttothelegaltransferofownershipfromtheMinistryofEducation.TheUniversityisoftheopinionthatasat31

December2014itisinsubstancetheowneroftheseBuildingsandassumesallthenormalrisksandrewardsofownership.

Landandbuildingsarerevaluedwhentherehasbeenasignificantmovementinthefairvalue.Thefairvaluesarerecognisedin

thefinancialstatementsandarereviewedattheendofeachreportingperiodtoensurethecarryingvalueoflandandbuildings

isnotmateriallydifferentfromtheirfairvalue.Landandbuildingswererevaluedasat31December2014byDarrochValuations

(registeredvaluers),onafairvaluebasis.Thevalueoflandandnonspecialisedbuildingswasdeterminedusingmarketbased

evidence.Allotherbuildingswerevaluedatoptimiseddepreciatedreplacementcost.

Infrastructural assets

Universityownedinfrastructuralassetsarerevaluedwhentherehasbeenasignificantmovementinthefairvalue.Thefairvalues

arerecognisedinthefinancialstatementsandarereviewedattheendofeachreportingperiodtoensurethecarryingvalueof

Infrastructuralassetsarenotmateriallydifferentfromtheirfairvalue.Infrastructuralassetswererevaluedasat31December

2014byOpusInternationalConsultantsLimitedonafairvaluebasisusingtheoptimiseddepreciatedreplacementcostmethod.

Library

TheLibrarycollectionisvaluedonthebasisofhistoricalcostlessaccumulateddepreciation.

Assets Under Construction/Work in Progress

Assetsunderconstruction/workinprogressisvaluedonthebasisofexpenditureincurredandcertifiedgrossprogressclaim

certificatesupto31December.WorkinProgressisnotdepreciated.Thetotalcostofaprojectistransferredtotherelevantasset

classonitscompletionandthenitisdepreciated.

Other Property, Plant and Equipment

Allotherproperty,plantandequipmentarevaluedathistoricalcostlessaccumulateddepreciation.



Depreciation

Propertyplantandequipmentisdepreciatedoneitherastraightline(SL)ordiminishingvalue(DV)basisasfollows:

Asset Class Basis Useful Life/Rate

Land N/A N/A

Buildings

–Structure SL 1-82years

–Services SL 1-39years

–Fitout SL 1-31years

Infrastructure SL 2-80years

Library

–Books SL 35years

–Periodicals SL 15years

Teaching/ResearchEquipment DV 15%

ComputerEquipment(excludingservers) SL 3-4years

ComputerServers SL 5years

OtherPropertyPlantandEquipment DV 5-20%

Revaluations

Revaluationofplant,propertyandequipmentiscarriedoutonaclassofassetsbasis.Thenetrevaluationresultsarecredited

ordebitedtoothercomprehensiveincomeandareaccumulatedtoanassetrevaluationreserveinequityforthatclassofasset.

Wherethiswouldresultinadebitbalanceintheassetrevaluationreserve,thisbalanceisnotrecognisedinothercomprehensive

incomebutisrecognisedinthesurplusordeficit.Anysubsequentincreaseonrevaluationthatreversesapreviousdecreasein

valuerecognisedinthesurplusordeficitwillberecognisedfirstinthesurplusordeficituptotheamountpreviouslyexpensed,

andthenrecognisedinothercomprehensiveincome.

Disposals

Gainsandlossesondisposalsaredeterminedbycomparingthedisposalproceedswiththecarryingamountoftheasset.Gains

andlossesondisposalsarereportednetinthesurplusordeficit.Whenrevaluedassetsaresold,theamountsincludedinproperty

revaluationreservesinrespectofthoseassetsaretransferredtogeneralfunds.

Intangible assets

Patents, trademarks and licences

Patents,trademarksandlicencesarefinitelifeintangiblesandarerecordedatcostlessaccumulatedamortisationandimpairment.

Amortisationischargedonastraightlinebasisovertheirestimatedusefulliveswhichrangebetweensevenandtwentyyears.The

estimatedusefullifeandamortisationmethodisreviewedattheendofeachannualreportingperiod.



Computer Software

Computersoftwareisamortisedonastraightlinebasisthatwillwriteoffthecostwithinthreetofouryears.Computersoftwareforthefinancial,studentenrolmentandlibrarysystemsareamortisedonastraightlinebasisthatwillwriteoffthecostwithintenyears.

Internallygeneratedintangibleassetsforfinitelifeintangiblesarestatedatcostlessaccumulatedamortisationandimpairment,

andareamortisedonastraight-linebasisovertheirusefullivesasfollows:

Research

Expenditureonresearchactivitiesisrecognisedasanexpenseintheperiodinwhichitisincurred.

Intellectual Property Development

Developmentcostsincurredondevelopmentprojects(relatingtothedesignandtestingofneworimprovedproducts)are

recognisedasintangibleassetswhenthefollowingcriteriahavebeenfulfilled:

» Itistechnicallyfeasibletocompletetheintangibleassetanduseorsellit;

» Managementintendstocompletetheintangibleassetanduseorsellit;

» Thereisanabilitytouseorselltheintangibleasset;

» Itcanbedemonstratedhowtheintangibleassetwillgenerateprobablefutureeconomicbenefits;

» Adequatetechnical,financialandotherresourcestocompletethedevelopmentandtouseorselltheintangibleassetareavailable;and

» Theexpenditureattributabletotheintangibleassetduringitsdevelopmentcanbereliablymeasured.

Otherdevelopmentexpendituresthatdonotmeetthesecriteriaarerecognisedasanexpenseasincurred.Developmentcostspreviouslyrecognisedasanexpensearenotrecognisedasanassetinasubsequentperiod.Capitaliseddevelopmentcostsarerecordedasintangibleassetsandamortisedfromthepointatwhichtheassetisreadyforuseonastraight-linebasisoveritsusefullife.

Impairment of non-current assets

Ateachreportingdate,theUniversityreviewsthecarryingamountsofitstangibleandintangibleassetstodeterminewhetherthereisanyindicationthatthoseassetshavesufferedanimpairmentloss.Ifanysuchindicationexists,therecoverableamountoftheassetisestimatedinordertodeterminetheextentoftheimpairmentloss(ifany).Wheretheassetdoesnotgeneratecashflowsthatareindependentfromotherassets,theUniversityestimatestherecoverableamountofthecash-generatingunittowhichtheassetbelongs.

Recoverableamountisthehigheroffairvaluelesscoststosellandvalueinuse.Inassessingvalueinuse,theestimatedfuturecashflowsarediscountedtotheirpresentvalueusingapre-taxdiscountratethatreflectscurrentmarketassessmentsofthetimevalueofmoneyandtherisksspecifictotheassetforwhichtheestimatesoffuturecashflowshavenotbeenadjusted.

Iftherecoverableamountofanasset(orcash-generatingunit)isestimatedtobelessthanitscarryingamount,thecarryingamountoftheasset(cash-generatingunit)isreducedtoitsrecoverableamount.AnimpairmentlossisrecognisedintheStatementofComprehensiveIncomeimmediately,unlesstherelevantassetiscarriedatfairvalue,inwhichcasetheimpairmentlossistreatedasarevaluationdecrease.

Whereanimpairmentlosssubsequentlyreverses,thecarryingamountoftheasset(cash-generatingunit)isincreasedtotherevisedestimateofitsrecoverableamount,butonlytotheextentthattheincreasedcarryingamountdoesnotexceedthecarryingamountthatwouldhavebeendeterminedhadnoimpairmentlossbeenrecognisedfortheasset(cash-generatingunit)

inprioryears.AreversalofanimpairmentlossisrecognisedintheStatementofComprehensiveIncomeimmediately,unlessthe

relevantassetiscarriedatfairvalue,inwhichcasethereversaloftheimpairmentlossistreatedasarevaluationincrease.



Provisions

ProvisionsarerecognisedwhentheUniversityhasapresentobligationasaresultofapastevent,thefuturesacrificeofeconomicbenefitsisprobable,andtheamountoftheprovisioncanbemeasuredreliably.

Theamountrecognisedasaprovisionisthebestestimateoftheconsiderationrequiredtosettlethepresentobligationatreportingdate,takingintoaccounttherisksanduncertaintiessurroundingtheobligation.Whereaprovisionismeasuredusingthecashflowsestimatedtosettlethepresentobligation,itscarryingamountisthepresentvalueofthosecashflows.

Whensomeoralloftheeconomicbenefitsrequiredtosettleaprovisionareexpectedtoberecoveredfromathirdparty,the

receivableisrecognisedasanassetifitisvirtuallycertainthatrecoverywillbereceivedandtheamountofthereceivablecanbe

measuredreliably.

Restructuring

ProvisionsforrestructuringarerecognisedwhentheUniversityhasdevelopedadetailedformalplanfortherestructuringandhas

raisedavalueexpectationinthoseaffectedthatitwillcarryouttherestructuringby:

» Startingtoimplementtheplan–OR

» Announcingitsmainfeaturestothoseaffectedbyit

Trade and Other Payables

Tradeandotherpayablesareinitiallymeasuredatfairvalueandsubsequentlymeasuredatamortisedcostusingtheeffective

interestmethod.

Borrowings

Borrowingsareinitiallyrecognisedattheirfairvalue.Afterinitialrecognition,allborrowingsaremeasuredatamortisedcostusing

theeffectiveinterestmethod.

Critical accounting estimates and assumptions

InpreparingthesefinancialstatementstheUniversityhasmadeestimatesandassumptionsconcerningthefuture.Theseestimatesandassumptionsmaydifferfromthesubsequentactualresults.Estimatesandjudgementsarecontinuallyevaluatedandarebasedonhistoricalexperienceandotherfactors,includingexpectationsorfutureeventsthatarebelievedtobereasonableunderthecircumstances.Theestimatesandassumptionsthathaveasignificantriskofcausingmaterialadjustmentto

thecarryingamountsofassetsandliabilitieswithinthenextfinancialyeararediscussedbelow:

» ActuarialvaluationshavebeenobtainedinordertodeterminethevalueofLongServiceLeaveandRetirementLeaveprovisions.

» Estimateshavebeenmadeastothecompletedportionofexternalresearchprojectsindeterminingthevalueofincomeinadvance.

» AteachbalancedatetheUniversityreviewstheusefullivesofthoseassetsthataresubjecttorevaluation.

» Note17providesinformationabouttheestimatesandassumptionsexercisedinthemeasurementofrevaluedland,buildings,andinfrastructure.

Critical judgements in applying the University’s accounting policies

ManagementhasexercisedthefollowingcriticaljudgementsinapplyingtheUniversity’saccountingpoliciesfortheperiodended

31December2014:

» MostCrownfundingreceivedisoperationalinnatureandisprovidedbytheCrownundertheauthorityofanexpenseappropriationandisrecognisedasrevenue.WherefundingisreceivedfromtheCrownundertheauthorityofacapitalappropriation,theUniversityaccountsforthefundingasacapitalcontributiondirectlyinequity.



Note 2: Government Funding and Grants

Note 3: Tuition Fees


This Year Last Year This Year Last Year

$000 $000 $000 $000

BlockGrants 85,862 86,792 85,862 86,792

AdvisoryServicesGrants 12,928 13,839 12,928 13,839

OtherGrants 1,029 992 1,029 992

Total Government Funding and Grants 99,819 101,623 99,819 101,623

TherearenounfulfilledconditionsorcontingenciesrelatingtotheaboveGovernmentgrants.



$000 $000 $000 $000

GovernmentFundedStudents 44,628 44,182 44,628 44,182

FullCostInternationalStudents 27,372 26,197 27,372 26,197

Total Fees 72,000 70,379 72,000 70,379



Note 4: Other Income



$000 $000 $000 $000

StudentAccommodationandOtherServices 11,300 10,473 11,300 10,473

Rental 767 878 767 901

CarbonDating 595 674 595 674

PrintingandCopyingServices 837 970 837 970

TeachingResourceSales 570 632 570 632

OtherIncome 11,390 13,450 9,045 9,077

Total Other Income 25,459 27,077 23,114 22,727



Note 5: Employee Entitlements



PERSONNEL COSTS $000 $000 $000 $000

EmployeeBenefitExpenses–Academic 76,854 78,734 76,190 78,533

EmployeeBenefitExpenses–General 51,166 50,294 49,074 47,689

MovementinActuarialValuation 1,321 (741) 1,321 (741)

Total Personnel Costs 129,341 128,287 126,585 125,481



EMPLOYEE ENTITLEMENTS $000 $000 $000 $000

StaffAnnualandLongServiceLeaveVested 9,048 9,164 9,048 9,164

SickLeave 7 7 7 7

OtherEmployeeEntitlements 1,636 1,473 1,336 1,086

ActuarialValuationofAnticipatedRetirementGratuitiesandLongServiceLeave

14,875 13,554 14,875 13,554

Total Employee Entitlements 25,566 24,198 25,266 23,811

CurrentPortion 13,318 12,659 13,018 12,272

NonCurrentPortion 12,248 11,539 12,248 11,539

Total Employee Entitlements 25,566 24,198 25,266 23,811



Thepresentvalueoftheretirementobligationsdependsonfactorsthataredeterminedonanactuarialbasisusinganumberof

assumptions.Twokeyassumptionsusedincalculatingthisliabilityincludethediscountrateandthesalaryinflationfactor.Any

changesintheseassumptionswillimpactonthecarryingamountoftheliability.

ExpectedfuturepaymentsarediscountedusingforwarddiscountratesderivedfromtheyieldcurveofNZgovernmentbonds.

Thediscountratesusedmatch,ascloselyaspossibletheestimatedfuturecashoutflows.Thesalaryinflationfactorhasbeen

determinedafterconsideringhistoricalsalaryinflationpatternsandafterobtainingadvicefromanindependentactuary.

Ifthesalaryinflationfactorweretoincreaseordecreaseby1%fromthatused,withallotherfactorsheldconstant,thecarrying

amountofthegratuityliabilitywouldbeanestimated$941,000higher/lower(2013–$844,000).

Ifthediscountratesweretoincreaseordecreaseby1%fromthatused,withallotherfactorsheldconstant,thecarryingamount

ofthegratuityliabilitywouldbeanestimated$934,000lower/higher(2013–$832,000).

TheUniversitymakescontributionstodefinedcontributionplanswhichincludecontributionstoKiwisaver,NZUniversities’

SuperannuationScheme,NationalProvidentFundandtheGovernmentSuperannuationFund.Thefollowingisincludedinthe

EmployeeBenefitExpenses–AcademicandEmployeeBenefitExpensesGeneral:



$000 $000 $000 $000

DefinedContributionPlanEmployerContributions 4,778 4,593 4,778 4,593

EmployeeBenefitExpenses–AcademicandEmployeeBenefitExpenses–Generalalsoincludes$403,971inrestructuringcosts

fortheyearended31December2014(2013–$452,230).



Note 6: Other Costs



$000 $000 $000 $000

AuditFeesforFinancialStatementAudit 194 196 194 194

AuditFeesforAssuranceServices 10 10 10 10

LossonDisposalofPropertyPlantandEquipment 62 38 62 38

ForeignExchange(Gain)/Loss (71) 69 (68) 69

ImpairmentofReceivables 44 (195) (45) (51)

ImpairmentofInvestments - 946 - 946

TravelandAccommodation 4,967 5,886 4,966 5,111

OperatingLeases 3,822 4,048 3,799 4,048

Scholarships 9,583 9,803 9,583 9,622

Hirage 1,129 995 1,129 1,011

RepairsandMaintenance 2,503 2,557 2,503 2,550

TeachingandResearchMaterials 2,608 2,911 2,608 2,691

Utilities 3,869 4,114 3,854 4,101

Otheroperatingexpenses 39,670 41,394 40,767 40,618

Total Other Costs 68,390 72,772 69,362, 70,958

AuditfeesforassuranceserviceswerefortheauditoftheUniversity’sdeclarationtotheMinistryofEducationonthe

Performance-basedResearchFundexternalresearchincome.



Note 7: Investments in Associates and Joint Ventures



$000 $000 $000 $000

ULeisureLimited 1,816 1,717 374 374

LCoNewZealandLimited 162 170 93 93

LigarPolymersLimited 304 - - -

LigarLimitedPartnership 300 - - -

LigarGPLimited - - - -

AduroBiopolymersLimitedPartnership 899 - - -

Total Investments in Associates and Joint Ventures 3,481 1,887 467 467

LigarPolymersLimited,LigarLimitedPartnershipandLigarGPLimitedareassociatesofWaikatoLinkLtd.2014isthefirstyear

thattheseinvestmentsofWaikatoLinkLtdhavebeenclassifiedasassociatesintheUniversity’sconsolidatedaccounts.Aduro

BiopolymersLimitedPartnershipisajointlycontrolledentityofWaikatoLinkLtd.2014isthefirstyearthatthisinvestmentof

WaikatoLinkLtdhasbeenclassifiedasajointlycontrolledentityintheUniversity’sconsolidatedaccounts.

Associates

Ownership Balance Date

U Leisure Limited (previously known as Campus Services Limited)

50% 31December

PrincipalActivity:ProvisionofsportandrecreationfacilitiesandfoodandentertainmentoutletsfortheUniversitystudentsandstaff.

CONSOLIDATED

This Year Last Year

$000 $000

The University’s share of the results of U Leisure Limited is as follows:

Investment in Associate

OpeningBalance 1,717 1,557

Shareofretainedsurplus/(loss) 99 160

Closing Balance 1,816 1,717

Represented by

Share of increase in net assets of associate (Carrying Value)

1,816 1,717



Note 7: Investments in Associates and Joint Ventures continued


LCoNewZealandLimited(LCoNZ) 25% 31December

PrincipalActivity:AconsortiumoffourNewZealanduniversitiesprovidinglibrarysolutionstothoseuniversities.

CONSOLIDATED

This Year Last Year

$000 $000

The University’s share of the results of LCoNZ is as follows:


OpeningBalance 170 616

Shareofretainedsurplus/(loss) (8) (13)

Dividendpaid - (25)

ReturnofCapital - (408)

Closing Balance 162 170

Represented by


162 170




Ligar Polymers Limited 40% 31December

PrincipalActivity:todevelopmolecularlyimprintedpolymerstofilter,extractordetectspecificmoleculesofinterest.

CONSOLIDATED

This Year Last Year

$000 $000

WaikatoLink’s share of the results of Ligar Polymers is as follows


OpeningBalance (4) -

Shareofretainedsurplus/(loss) 308 (4)

Closing Balance 304 (4)

Represented by


304 (4)


Ligar Limited Partnership 20% 30September

PrincipalActivity:todevelopmolecularlyimprintedpolymerstofilter,extractordetectspecificmoleculesofinterest.

CONSOLIDATED

This Year Last Year

$000 $000

WaikatoLink’s share of the results of Ligar Limited Partnership is as follows:


OpeningBalance - -

Investment 300 -

Shareofretainedsurplus/(loss) - -

Closing Balance 300 -

Represented by


300 -



Joint Venture


AduroBiopolymersLimitedPartnership 55% 31March

PrincipalActivity:Todevelopandcommercialisearangeofbiopolymermaterialsforuseinplastics,composites,agriculture,horticulture,manufacturingandconstruction.

CONSOLIDATED

This Year Last Year

$000 $000

WaikatoLink’s share of the results of Aduro Biopolymers Limited Partnership as follows:

Investment in Joint Venture

OpeningBalance 1,151 1,351

Shareofretainedsurplus/(loss) (252) (200)

Closing Balance 899 1,151

Represented by

Share of increase in net assets of Joint Venture (Carrying Value)

899 1,151

Summarised Financial Information of Associates and Joint Ventures.

Assets 9,161 5,287

Liabilities 1,963 1,161

NetAssets 7,198 4,126

Revenue 2,170 4,639

Net Surplus/(Loss) 471 267

ShareofAssociates’andJointVenturessurplus/(loss)

147 147

TheGroup’sassociatesandjointventuresareunlistedentities,accordinglythereisnopublishedpricequotationstodeterminethe

fairvalueoftheinvestments.

Detailsofcontingentliabilitiesarisingfromthegroupinvolvementintheassociatesandjointventuresaredisclosedseparatelyin

note26.

Note 7: Investments in Associates and Joint Ventures continued



Note 8: Equity


Ref This Year Last Year This Year Last Year

GENERAL EQUITY $000 $000 $000 $000

OpeningBalance 218,204 208,031 200,997 191,536

NetSurplus/(Deficit) 11,587 9,694 9,188 9,350

StaffShareOptionsIssued i (667) 724 - -

MinorityInterestShareRepurchase - (80) - -

SurplusattributabletoNon-ControllingInterest

750 (276) - -

Less appropriations of net surplus to:

RestrictedReserves

Prizes,ScholarshipsandTrustFunds (585) (749) (585) (749)

Plus transfers from

Prizes,ScholarshipsandTrustFunds 467 860 467 860

Closing Balance 229,756 218,204 210,067 200,997


Ref This Year Last Year This Year Last Year

OTHER RESERVES $000 $000 $000 $000

AssetRevaluationReserve ii 152,429 131,557 152,429 131,557

RestrictedReserves iii 2,907 2,789 2,907 2,789

Total Other Reserves 155,336 134,346 155,336 134,346

Total Equity before Non-Controlling Interest

385,092 352,550 365,403 335,343

i) Staff Share Options IssuedDuring2013,11AntsAnalyticsLimited,asubsidiaryofWaikatoLink,terminatedtheirshareoptionprogrammeandreplacedit

withanewprogrammethatentitleskeypersonneltopurchasesharesinthecompany.Inaccordancewiththisprogrammeoptions

areexercisableatthemarketpriceofthesharesatthedateofgrant.Allpreviouslyrecognisedexpensesrelatingtotheprior

shareoptionprogrammewerereversedin2013andareincludedinEmployeeBenefitcosts(note5).

During2013,ObodiesLimited,asubsidiaryofWaikatoLink,establishedashareoptionprogrammethatentitledthecompany'skey

scientisttopurchasesharesinthecompany.In2014thekeyscientistceasedhisemploymentwithObodiesLtd.Inresponsethe

employeeshareschemewasterminatedeffectivefrom4July2014.



ii) Asset Revaluation Reserve



$000 $000 $000 $000

OpeningBalance 131,557 131,557 131,557 131,557

Revaluation 20,872 - 20,872 -

Transferondisposalofassets - - - -

NetIncreaseinAssetRevaluationReserve 20,872 - 20,872 -

Closing Balance 152,429 131,557 152,429 131,557

Represented by:

Land

OpeningBalance 730 730 730 730

Revaluation 185 - 185 -

Closing Balance 915 730 915 730

Buildings

OpeningBalance 115,766 115,766 115,766 115,766

Revaluation 21,842 - 21,842 -

Transferondisposalofassets - - - -

Closing Balance 137,608 115,766 137,608 115,766

InfrastructuralAssets

OpeningBalance 15,061 15,061 15,061 15,061

Revaluation (1,155) - (1,155) -

Closing Balance 13,906 15,061 13,096 15,061

Note 8: Equity continued



iii) Restricted ReservesThePrizes,ScholarshipsandTrustFundsReservesrepresentfundsheldbytheUniversityonbehalfofothersandfundsprovided

totheUniversitybyvariouspeopleforspecificpurposes.Revenuereceivedfortheseitemsanddisbursementstoauthorised

recipientsarerecordedintheStatementofComprehensiveIncomeFundbalancesremainingareshownasrestrictedreserves.



PRIZES, SCHOLARSHIPS AND TRUST FUNDS $000 $000 $000 $000

OpeningBalance 2,789 2,900 2,789 2,900

AddappropriationofNetSurplus 585 749 585 749

LessapplicationtoPrizes,ScholarshipsandTrustFunds

(467) (860) (467) (860)

Closing Balance 2,907 2,789 2,907 2,789

Note 9: Cash and Cash Equivalents



$000 $000 $000 $000

Cashatbankandinhand 1,407 883 667 652

Termdepositsmaturingthreemonthsorlessfromdateofacquisition

9,170 4,369 9,100 4000

10,577 5,252 9,767 4,652

Thecarryingvalueofcashatbankandtermdepositswithmaturitydatesofthreemonthsorlessapproximatestheirfairvalue.

Refertonote24forweightedaverageeffectiveinterestrateforcashandcashequivalents.



Note 10: Trade and Other Receivables



$000 $000 $000 $000

TradeReceivables 7,841 11,296 6,463 9,636

StudentFeeReceivables 11,535 12,216 11,535 12,216

ReceivablesfromSubsidiaries - - 72 243

ReceivablesfromRelatedParties 1,908 1,435 239 72

ImpairmentofDebtors (419) (464) (153) (198)

20,865 24,483 18,156 21,969

IncludedinStudentFeeReceivablesis$10.8M(2013–$11.5M)of2015feeswhichhavebeeninvoicedbutarenotdueforpayment

until2015.Alsorefernote18.

Thecarryingvalueofreceivablesapproximatestheirfairvalue.Nointerestischargedontradereceivables.Anallowancehasbeen

madeforestimatedirrecoverableamountsfromdebtors,determinedbyreferencetoindividualdebtors,pastdefaultexperience

andtheageofthedebt.ThemovementforimpairmentisrecognisedintheStatementofComprehensiveIncomeforthecurrent

year(refernote6).

TheUniversityofWaikatodoesnothaveanyreceivablesthatwouldotherwisebepastdue,butnotimpaired,whosetermshave

beenrenegotiated.

Asat31December2014and2013,alloverduereceivableshavebeenassessedforimpairmentandappropriateprovisionsapplied,

asdetailedbelow:

UNIVERSITY

This Year Last Year

Gross Impairment Net Gross Impairment Net

$000 $000 $000 $000 $000 $000

Notpastdue 11,585 - 11,585 13,203 - 13,203

Pastdue1-30days 5,573 - 5,573 6,322 - 6,322

Pastdue31-60days 624 - 624 545 - 545

Pastdue61+days 527 (153) 374 2,097 (198) 1,899

Total 18,309 (153) 18,156 22,167 (198) 21,969



CONSOLIDATED

This Year Last Year

Gross Impairment Net Gross Impairment Net

$000 $000 $000 $000 $000 $000

Notpastdue 13,363 - 13,363 14,587 - 14,587

Pastdue1-30days 5,574 - 5,574 6,322 - 6,322

Pastdue31-60days 624 - 624 566 - 566

Pastdue61+days 1,723 (419) 1,304 3,472 (464) 3,008

Total 21,284 (419) 20,865 24,947 (464) 24,483

Movementsintheprovisionforimpairmentofreceivablesareasfollows:


2014 2013 2014 2013

$000 $000 $000 $000

At1January 464 269 198 249

Provisionsmadeduringtheyear (25) 225 (25) (21)

Receivableswrittenoffduringtheyear (20) (30) (20) (30)

At 31 December 419 464 153 198

TheUniversityholdsnocollateralassecurityorothercreditenhancementsoverreceivablesthatareeitherpastdueorimpaired.

Loans and Other ReceivablesIn2013WaikatoLinkLtdheldanoncurrentreceivableof$30,000.



Note 11: Derivative Financial Instruments



$000 $000 $000 $000

Current Asset Portion

Forwardforeignexchangecontracts 2 - 2 -

Total derivative financial instrument assets 2 - 2 -

Fair ValueThefairvaluesofforwardforeignexchangecontractshavebeendeterminedusingadiscountedcashflowsvaluationtechnique

basedonquotedmarketprices.Theinputsintothevaluationmodelarefromindependentlysourcesmarketparameterssuchas

currencyrates.Mostmarketparametersareimpliedfrominstrumentprices.

ThenotionalprincipalamountofoutstandingforwardforeignexchangecontractsinNZDwas$168,394(2013–$0).Theforeign

currencyprincipalamountwasUSD$130,000.

Note 12: Intercompany Balances



$000 $000 $000 $000

UniversityofWaikatoFoundationTrust - - (50) (7)

UniversityofWaikatoAlumniAssociation - - - (5)

StudentCampusBuildingFundTrust - - (1,559) (1,341)

LCoNewZealandLimited - - (110) (110)

iEngagEdLimited - - 99 (25)

WaikatoLinkLimited - - 8,516 8,516

UniversityofWaikatoResearchTrust - - (13,511) (14,230)

Total Intercompany Balances - - (6,615) (7,202)



Note 13: Other Financial Assets



OTHER FINANCIAL ASSETS – CURRENT $000 $000 $000 $000

TermDepositswithmaturitiesof4-12months 23,213 14,357 22,014 14,000

EndowmentPortfolio(CIP) 2,129 1,760 - -

Total Other Financial Assets 25,342 16,117 22,014 14,000

INVESTMENT INCOME

Interest 1,931 1,667 1,775 1,549

Dividends 91 3 32 142

Gains/(Losses)onEquityInvestments 92 (16) - -

Total Investment Income 2,114 1,654 1,807 1,690

TheweightedaverageeffectiveinterestratesontermdepositsaredisclosedinNote24:FinancialInstruments.Termdepositsare

valuedatamortisedcostusingtheeffectiveinterestmethod.

TheendowmentportfolioismanagedbyCraigsInvestmentPartners(CIP),equitiesandfixedinterestinvestmentswithinthe

portfolioarevaluedusingquotedmarketprice,thebalanceoftheportfolioisvaluedatamortisedcostusingtheeffectiveinterest

method.Seenote24.

Therewasnoimpairmentprovisionforinvestments.

TheintercompanybalancesareacumulativerecordofthetransactionsbetweentheUniversityanditssubsidiaries.

Allintercompanycurrentaccountsareclassifiedascurrent.TheUniversityofWaikatoResearchTrustloanhasbeenreclassified

fromnon-currenttocurrentinthe2014accountsasitisdeemedappropriateinlinewiththenatureofthearrangementsofthe

Trust.ThisreclassificationissupportedbyadvicereceivedfromPwC,CharteredAccountants.

Intercompanybalancesareunsecured,non-interestbearing,andarerepayableondemand.Thefairvalueoftheondemand

accountscannotbelessthantheamountrepayableondemand.Therefore,thecarryingvalueoftheaccountsondemandreflects

theirfairvalue.

Asat31December2014theUniversityhadadvancedtoWaikatoLinkLtdatotalof$8,516,215bywayofshareholderloan.Theloan

isinterestfreeandrepayableondemand.TheUniversityhasundertakennottodemandrepaymentuntilWaikatoLinkhassufficient

freecashavailabletomakerepayments.



Note 14: Inventories

Note 15: Investments



$000 $000 $000 $000

HeldforSale 257 293 257 293

HeldforDistribution/Use 757 777 757 777

1,014 1,070 1,014 1,070

Noinventoriesarepledgedassecurityforliabilitiesorsubjecttoretentionoftitleclauses(2013–$nil).

$1kofstockheldforsalewaswrittendownforobsolescencein2014(2013–$nil).



STRATEGIC INVESTMENTS $000 $000 $000 $000

NZSynchrotronGroupLimited 198 198 198 198

TitanoxDevelopmentLimited 205 205 - -

INVESTMENTS IN SUBSIDIARIES

WaikatoLinkLimited - - 2,000 2,000

403 403 2,198 2,198

Investmentsinunlistedentities,andsubsidiariesabovearecarriedatcostlessimpairmentaseitherthefairvalueofthe

investmentcannotbereliablydeterminedusingastandardisedvaluationtechniqueorduetocostnotbeingmaterially

differenttofairvalue.



Note 16: Intangible Assets


Software Purchased

Software Internally

Generated

Non Software Development

Costs

Consolidated Total

Software Purchased

Software Internally Generated

University Total

THIS YEAR $000 $000 $000 $000 $000 $000 $000

Opening Balance at 1 January 2014

Cost 19,181 925 11,858 31,964 19,166 925 20,091

AccumulatedAmortisationandImpairment

(13,090) (846) (5,225) (19,161) (13,075) (846) (13,921)

Opening Carrying Amount

6,091 79 6,633 12,803 6,091 79 6,170

Year Ended 31 December 2014

Additions 904 - 464 1,368 904 - 904

Disposals - - (625) (625) - - -

AmortisationandImpairmentCharge

(1,344) (60) (671) (2,075) (1,344) (60) (1,404)

Closing Carrying Amount

5,651 19 5,801 11,471 5,651 19 5,670

Closing Balance at 31 December 2014

Cost 20,085 925 11,697 32,707 20,070 925 20,995


(14,434) (906) (5,896) (21,236) (14,419) (906) (15,325)


5,651 19 5,801 11,471 5,651 19 5,670

LAST YEAR $000 $000 $000 $000 $000 $000 $000

Opening Balance at 1 January 2013

Cost 17,614 925 11,537 30,076 17,599 925 18,524


(12,110) (770) (4,913) (17,793) (12,095) (770) (12,865)

Opening Carrying Amount

5,504 155 6,624 12,283 5,504 155 5,659



Note 16: Intangible Assets continued


Software Purchased

Software Internally

Generated

Non Software Development

Costs

Consolidated Total

Software Purchased

Software Internally Generated

University Total

LAST YEAR $000 $000 $000 $000 $000 $000 $000

Year Ended 31 December 2013

Additions 1,567 - 321 1,888 1,567 - 1,567

Disposals - - - - - - -

AmortisationandImpairmentCharge

(980) (76) (312) (1,368) (980) (76) (1,056)


6,091 79 6,633 12,803 6,091 79 6,170

Closing Balance at 31 December 2013

Cost 19,181 925 11,858 31,964 19,166 925 20,091


(13,090) (846) (5,225) (19,161) (13,075) (846) (13,921)


6,091 79 6,633 12,803 6,091 79 6,170

Non Software Development CostsCostincurredondevelopmentofprojects(relatingtothedesignandtestingofneworimprovedproducts)arerecognised

asassetswhenthefollowingcriteriahavebeenfulfilled:

» Itistechnicallyfeasibletocompletetheintangibleassetanduseorsellit;

» Managementintendstocompletetheintangibleassetanduseorsellit;

» Thereisanabilitytouseorselltheintangibleasset;

» Itcanbedemonstratedhowtheintangibleassetwillgenerateprobablefutureeconomicbenefit;

» Adequatetechnical,financialandotherresourcestocompletethedevelopmentandtouseorselltheintangibleassetareavailable;and

» Theexpenditureattributabletotheintangibleassetduringitsdevelopmentcanbereliablymeasured.

Theamountofintangibleassetsthatareworkinprogressfornonsoftwaredevelopmentis$2,924,000(2013–$2,574,000)

Theamountofintangibleassetsthatareworkinprogressforsoftwarepurchasedis$1,597,000(2013–$1,381,000)

TherearenorestrictionsoverthetitleoftheUniversity’sintangibleassets,norareanyintangibleassetspledgedassecurityforliabilities.



Note 17: Property, Plant and Equipment for University and Consolidated

CONSOLIDATED

THIS YEAR

$000 $000 $000 $000 $000 $000 $000 $000 $000 $000 $000

Land 1,765 - 1,765 - - - - 185 1,950 - 1,950


26,000 (1,427) 24,573 1,587 - - (753) (1,155) 24,252 - 24,252

Buildings 290,147 (18,607) 271,540 6,004 - - (9,830) 21,842 289,556 - 289,556

LeaseholdBuildingImprovements

1,704 (1,158) 546 17 - - (66) - 1,721 (1,224) 497

LibraryCollection 67,054 (38,714) 28,340 3,512 - - (2,641) - 70,565 (41,354) 29,211

PlantandEquipment 45,827 (31,850) 13,977 3,429 (1,366) - (2,378) - 46,695 (33,033) 13,662

ComputerEquipment 30,131 (23,071) 7,060 2,711 (779) - (2,488) - 31,287 (24,783) 6,504

ArtCollection 643 - 643 461 - - - - 1,104 - 1,104

MotorVehicles 4,437 (2,181) 2,256 1,142 (852) - (497) - 4,125 (2,076) 2,049

WorkinProgress 5,180 - 5,180 6,217 - - - - 11,397 - 11,397

Total 472,888 (117,008) 355,880 25,080 (2,997) - (18,653) 20,872 482,652 (102,470) 380,182

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Note 17: Property, Plant and Equipment for University and Consolidated continued

CONSOLIDATED

LAST YEAR

$000 $000 $000 $000 $000 $000 $000 $000 $000 $000 $000

Land 1,765 - 1,765 - - - - - 1,765 - 1,765


24,736 (702) 24,034 1,264 - - (725) - 26,000 (1,427) 24,573

Buildings 269,985 (9,056) 260,929 20,162 - - (9,551) - 290,147 (18,607) 271,540

LeaseholdBuildingImprovements

2,592 (1,977) 615 926 (923) - (73) - 1,704 (1,158) 546

LibraryCollection 63,657 (36,164) 27,493 3,397 - - (2,550) - 67,054 (38,714) 28,340

PlantandEquipment 43,095 (29,335) 13,760 2,888 (127) - (2,543) - 45,827 (31,850) 13,977

ComputerEquipment 28,547 (21,525) 7,022 3,653 (1,038) - (2,577) - 30,131 (23,071) 7,060

ArtCollection 465 - 465 178 - - - - 643 - 643

MotorVehicles 4,188 (1,950) 2,238 930 (380) - (531) - 4,437 (2,181) 2,256

WorkinProgress 13,745 - 13,745 (8,565) - - - - 5,180 - 5,180

Total 452,775 (100,709) 352,066 24,833 (2,468) - (18,550) - 472,888 (117,008) 355,880

The$11,000(2013–$43,000)differencebetweentheProperty,PlantandEquipmentCarryingamount,representedintheBalance

SheetfortheUniversityascomparedtothevalueunderConsolidated,istheProperty,PlantandEquipmentheldbyTheUniversityof

WaikatoFoundationof$0(2013–$0)andWaikatoLinkLimitedof$11,000(2013–$43,000).

Land and Buildings Specialisedbuildings(egcampuses)arevaluedatfairvalueusingoptimiseddepreciatedreplacementcostbecausenoreliable

marketdataisavailableforbuildingsdesignedforeducationdeliverypurposes.

Depreciatedreplacementcostisdeterminedusinganumberofsignificantassumptions.Significantassumptionsinclude:

» Thereplacementassetisbasedonthereproductioncostofthespecificassetswithadjustmentswhereappropriateforobsolescenceduetoover-designorsurpluscapacity.

» ThereplacementcostsisderivedfromrecentconstructioncontractsofsimilarassetsandPropertyInstituteofNewZealandcostinformation.

» Theremainingusefullifeofassetsisestimated.

» Straight-linedepreciationhasbeenappliedindeterminingthedepreciatedreplacementcostvalueoftheasset.

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$000 $000 $000 $000

ResearchIncome 6,787 5,766 6,787 5,766

Commercial 497 443 490 424

TuitionFees 23,183 20,499 23,183 20,499

Total Income in Advance 30,467 26,708 30,460 26,689

Includedintuitionfeesis$10.8M(2013–$11.4M)of2015feeswhichhavebeeninvoicedbutarenotdueforpaymentuntil2015.

Alsorefernote10.

Note 18: Income in Advance

Non-specialisedbuildingandlandarevaluedatfairvalueusingmarket-basedevidence.Marketrentsandcapitalisationrateswere

appliedtoreflectmarketvalue.

LandandBuildingswererevaluedasat31December2014byDarrochValuationsLimited(RegisteredValuers),onafairvalue

basis.ThetotalfairvalueofLandandBuildingsvaluedbyDarrochValuationsLtdat31December2014was$291,506,471.

InaccordancewiththelandleaseagreementwithTainuiGroupHoldingsLimitedtheUniversityisabletosubletupto25%ofthe

grossfloorareaofthebuildings.

InfrastructureInfrastructureassetssuchasroads,carparks,footpaths,undergroundutilites(egwatersupplyandseweragesystems),andsite

drainagehavebeenindependentlyvaluedatOptimiseddepreciatedreplacementcost.Thevaluationshavebeenperformedin

accordancewiththeNewZealandValuationandDepreciationGuidelinesissuedbytheNAMSGroup.Thesignificantassumptions

appliedindeterminingthedepreciatedreplacementcostofinfrastructureassetsaresimilartothosedescribedabovefor

specialisedbuildings.

InfrastructuralAssetswererevaluedasat31December2014byOpusInternationalConsultantsLimitedonafairvaluebasis.

ThetotalfairvalueofinfrastructurevaluedbyOpusat31December2014was$24,252,000.

ThenetcarryingamountofProperty,Plantandequipmentheldunderfinanceleasesis$1,762,251(2013–$1,813,238).

Restrictions on titleUndertheEducationAct1989,theUniversityandgroupisrequiredtoobtaintheconsentfromtheMinistryofEducationto

disposeorsellofpropertywherethevalueofthepropertyexceedsanamount.



Note 20: Borrowings



$000 $000 $000 $000

OpeningBalance 1,329 1,333 1,329 1,333

LessBorrowingsRepaid (3) (4) (3) (4)

Closing Balance 1,326 1,329 1,326 1,329

CurrentPortion–FinanceLease 4 3 4 3

NonCurrentPortion–FinanceLease 1,322 1,326 1,322 1,326

1,326 1,329 1,326 1,329

TheFinanceleasewasfairvaluedatinceptionusingadiscountrateof12.07%.

Note 19: Trade and Other Payables



$000 $000 $000 $000

TradePayables 5,582 5,021 7,696 6,588

PayablestoRelatedParties(seenote25) 1,734 1,669 50 334

GSTPayable 3,909 3,923 3,499 3,806

Accruals 3,847 6,903 3,315 6,371

Trade and Other Payables 15,072 17,516 14,560 17,099

Tradepayablesandotherpayablesarenon-interestbearingandarenormallysettledon30-dayterms,thereforethecarryingvalueof

tradepayablesandotherpayablesapproximatestheirfairvalue.



Finance lease(a) Leasing arrangements

TheFinanceleaserelatestoUniversitybuildingswhichbecomethepropertyoftheUniversityattheconclusionofthelease

termin2046.

(b) Finance lease liabilities

Minimum Future Lease Payments

Present Value of Minimum Future Lease Payments

CONSOLIDATED UNIVERSITY CONSOLIDATED UNIVERSITY

This Year

Last Year

This Year

Last Year

This Year

Last Year

This Year

Last Year

$000 $000 $000 $000 $000 $000 $000 $000

Nolaterthan1year 164 164 164 164 154 154 154 154

Between1and5years 655 655 655 655 459 459 459 459

Laterthan5years 4,370 4,534 4,370 4,534 713 716 713 716

MinimumLeasePayments 5,189 5,353 5,189 5,353 1,326 1,329 1,326 1,329

Lessfuturefinancecharges (3,863) (4,024) (3,863) (4,024) - - - -

Present value of minimum lease payments

1,326 1,329 1,326 1,329 1,326 1,329 1,326 1,329



Note 21: Reconciliation of the Net Surplus/(Deficit) to the Net Cash Flows from Operating Activities



$000 $000 $000 $000

NetSurplus/(Deficit) 11,587 9,694 9,188 9,350

Add/(Less) Non Cash Items:

DepreciationandAmortisation 20,727 20,193 20,045 19,610

Increase/(Decrease)inTermPortionofEmployeeEntitlements

708 (356) 708 (356)

LossonDisposalofPPE 62 19 62 -

IntercompanyAccounts - - (584) 115

NonCashAdvancefromAssociates (300) - - -

MovementinDeferredIncome 12 - - -

IssueofEmployeeShareOptions (2) 44 - -

InterestAccrued (23) - - -

Associates (91) (147) - -

Other (159) 3 - -

20,934 19,756 20,231 19,369

Add/(Less) Movements in Other Working Capital Items:

(Increase)/DecreaseinTradeandOtherReceivables 3,648 (3,900) 3,813 (3,640)

Increase/(Decrease)inTradeandOtherPayables (2,455) (1,109) (2,539) (897)

(Increase)/DecreaseinInventories 56 (50) 57 (50)

Increase/(Decrease)inIncomeinAdvance 3,771 (615) 3,771 (563)

Increase/(Decrease)inEmployeeEntitlements 659 (74) 746 (92)

(Increase)/DecreaseinPrepayments 940 247 940 247

6,619 (5,501) 6,788 (4,995)





$000 $000 $000 $000

Add/(Less) Items Classified as Investing and Financing Activities:

LongTermInvestment 474 - - -

CapitalGainonSaleofInvestment (186) - - -

EquityDistributionfromSubsidiary - 248 - -

AssociateLossesRecognised 147 41 - -

WaikatoLinkEquityAdjustment - (80) - -

CashDividendfromSubsidiary - - (32) (142)

435 209 (32) (142)

Net Cash Flow from Operating Activities 39,575 24,158 36,175 23,582

Note 22: Key Mananagement Personnel Compensation

ThecompensationofthemembersofCouncil,andemployeesreportingdirectlytotheVice-Chancellor,beingthekeymanagement

personneloftheentity,issetoutbelow:

UNIVERSITY

This Year Last Year

$ $

Short-TermEmployeeBenefits 4,217,502 3,741,659

CouncillorRemuneration 78,892 71,950

Post-EmploymentBenefits 153,684 157,287

TerminationPayments - -

Total 4,450,078 3,970,896



Note 23: Leases

Operating Leases as Leasee(a) Leasing Arrangements

FINAL EXPIRY 2014 ACTUAL COMMENTARY

PROPERTY LEASES $000

Waikato-TainuiCampusLand Inperpetuity 1,462 Subjecttoleasecondition

TaurangaCampus 2015to2025 596 8SeparateLeases

RuakuraSatelliteCampus 2015to2029 212 2SeparateLeases

OtherHamiltonLeases 2015to2034 302 5Leases

Other 2015to2022 127 6Leases

EQUIPMENT LEASES 2015to2017 1,099 3Leases

Total 3,799

TheUniversityleasesthelandfortheHamiltoncampusfromTainuiGroupHoldingsLimited.Theuseofthislandisrestricted

totertiaryeducation,researchoranyotheractivitypermittedbytherulesoftheRegionalandDistrictplansorbyaResource

Consent.TheUniversitymaysubletupto25%ofthelandforperiodsofnolongerthan10years.

TheUniversityhasenteredintoaMasterLeaseagreementwithaFinancierforthefinancingofindividualstudenttechnology

equipment.TheUniversityisindemnifiedagainstanydefaultpaymentsoranybreachofanycovenantbyastudenttorepair

ortoreturntheEquipmenttotheLessor.

TTheUniversityhasenteredintoaprepaidleaseagreement.Thefutureaggregateminimumleasepaymentsunderthenon-

cancellableoperatingleaseare$150,000notlongerthan1year,$262,500longerthan1yearandnotlongerthan5years,andnil

longerthan5years.TheseamountswillbeexpensedthroughtheStatementofComprehensiveIncomeintherelevantperiods.

Thefutureaggregateminimumleasepaymentspayableundernon-cancellableoperatingleaseareasfollows:

(b) Non-Cancellable Operating Lease Payments



$000 $000 $000 $000

Notlongerthan1year 3,245 2,805 3,245 2,805

Longerthan1yearandnotlongerthan5years 8,469 7,043 8,469 7,043

Longerthan5years 42,552 43,358 42,552 43,358

54,266 53,206 54,266 53,206



(c) Sub-leases

Thetotalminimumfuturereceiptsthattheuniversityexpectstoreceivefromitstenantsonleasedlandis$7.6M,(2013$7.9M).

Theminimumrenewalperiodsrangefrom1to32years.

Lessor Disclosures

Operating Leases as Lessor(a) Leasing Arrangements (Receivables)

Operatingleasesrelatetoshopsoncampus,campuslandandresidentialpremisesadjacenttotheUniversity.Leasetermsarefor

termsofbetween5monthsand49yearswithvariousoptionstorenew.Thelesseesdonothavetheoptiontopurchaseatthe

expiryoftheleaseperiod.

Thefutureaggregateminimumleasepaymentstobecollectedundernon-cancellableoperatingleasesareasfollows:

(b) Non-Cancellable Operating Lease Receivables



$000 $000 $000 $000

Notlongerthan1year 475 634 475 634

Longerthan1yearandnotlongerthan5years 1,533 1,513 1,533 1,513

Longerthanfiveyears 5,992 6,304 5,992 6,304

8,000 8,451 8,000 8,451

NocontingentrentshavebeenrecognisedintheStatementofComprehensiveIncome.



Note 24: Financial Instruments

24A: Financial Instrument CategoriesTheaccountingpoliciesforfinancialinstrumentshavebeenappliedtothelineitemsbelow:



FINANCIAL ASSETS $000 $000 $000 $000

Fair value through surplus or deficit

Held for trading

ForwardForeignExchangeContracts 2 - 2 -

NewZealandEquities 571 398 - -

AustralianEquities 424 228 - -

OtherOffshoreEquities 456 249 - -

FixedInterestInstruments 162 46 - -

Totalheldfortrading 1615 921 2 -

Loans and Receivables

CashandCashEquivalents 10,577 5,252 9,767 4,652

TradeandOtherReceivables 20,865 24,483 18,156 21,969

InterCompanyBalances - - 6,896 7,028

OtherFinancialAssets 23,729 16,025 22,014 14,000

InvestmentsinAssociatesandJointVentures 3,481 1,887 467 467

Investments 403 403 2,198 2,198

TotalLoansandReceivables 59,055 48,050 59,498 50,314

FINANCIAL LIABILITIES

Fair value through surplus or deficit

Financial Liabilities at Amortised Cost

TradeandOtherPayables 11,163 13,593 11,061 13,293

UniversityofWaikatoResearchTrustPayable - - 13,511 14,230

Total Financial Liabilities at Amortised Cost 11,163 13,593 24,572 27,523



24B: Fair Value Hierarchy DisclosuresForthoseinstrumentsrecognisedatfairvalueontheBalanceSheet,fairvaluesaredeterminedaccordingtothe

followinghierarchy:

» Quotedmarketprice–Financialinstrumentswithquotedpricesforidenticalinstrumentsinactivemarkets.

» Valuationtechniqueusingobservableinputs–Financialinstrumentswithquotedpricesforsimilarinstrumentsinactivemarketsorquotedpricesforidenticalorsimilarinstrumentsininactivemarketsandfinancialinstrumentsvaluedusingmodelswhereallsignificantinputsareobservable.

» Valuationtechniqueswithsignificantnon-observableinputs–Financialinstrumentsvaluedusingmodelswhereoneormoresignificantinputsarenotobservable.

TheUniversityandGroupcurrentlyhas$2K(2013–$0K)offorwardforeignexchangecontracts,$1,451K(2013–$875K)of

equitiesand$162K(2013–$46K)offixedinterestinstrumentsmeasuredatfairvalueontheBalanceSheet.(seenotes11and13).

24C: Financial Instrument RisksTheUniversity’sactivitiesexposeittoavarietyoffinancialinstrumentrisks,includingmarketrisk,creditriskandliquidityrisk.

TheUniversityhasaseriesofpoliciestomanagetherisksassociatedwithfinancialinstrumentsandseekstominimiseexposure

fromfinancialinstruments.Thesepoliciesdonotallowanytransactionsthatarespeculativeinnaturetobeenteredinto.

Market risk

Theeffectiveinterestratesoninvestmentsrangefrom3.53%to4.70%(2013–3.60%to4.30%).Therewasafinancelease

recognisedin2006withaneffectiveinterestrateof12.07%in2014.(2013–12.07%).Therewerenotermloansfor2014

(2013–none).

Fair Value Interest Rate Risk

TheestimatedfairvalueoftheUniversity’sfinancialinstrumentsareequivalenttotheircarryingamountsinthefinancial

statements.TheUniversity’sexposuretofairvalueinterestrateriskislimitedtoitsbankdepositswhichareheldatfixedrates

ofinterest,andafinancelease.

Cash Flow Interest Rate Risk

Cashflowinterestrateriskistheriskthatthecashflowsfromafinancialinstrumentwillfluctuatebecauseofchangesinmarket

interestrates.InvestmentsissuedatvariableinterestratesexposetheUniversitytocashflowinterestraterisk.

TheUniversityholdsamixtureoffixedrateandfloatingcallratedeposits.At31DecembertheUniversityhad$9.1M

(2013–$4.0M)investedinvariableratedepositsandthebalanceinfixedratedeposits.

Sensitivity analysis

Thetablesoppositeillustratethepotentialeffectonthesurplusordeficitandequity(excludinggeneralfunds)forreasonably

possiblemarketmovements,withallothervariablesheldconstant,basedonfinancialinstrumentexposuresatbalancedate.



Note 24: Financial Instruments continued

INTEREST RATE RISK

University This Year Last Year

Instrument +100bps -100bps +100bps -100bps

$000 $000 $000 $000

Variableratedeposits 91 (91) 40 (40)

Consolidated This Year Last Year

Instrument +100bps -100bps +100bps -100bps

$000 $000 $000 $000

Variableratedeposits 99 (99) 43 (43)

CURRENCY RISK


InstrumentsheldinUSD +10% -10% +10% -10%

$000 $000 $000 $000

Creditors 93 (113) 3 (4)

Debtors - - (2) 2

USdollaraccount (59) 69 (29) 35


InstrumentsheldinUSD +10% -10% +10% -10%

$000 $000 $000 $000

Creditors 95 (116) 4 (5)

Debtors (2) 3 (5) 6

USdollaraccount (59) 73 (29) 35

Equities (28) 35 (12) 14



CURRENCY RISK continued


InstrumentsheldinAUD +10% -10% +10% -10%

$000 $000 $000 $000

Creditors 17 21 - -

Debtors - - - -

AUDdollaraccount (2) 2 (7) 8


InstrumentsheldinAUD +10% -10% +10% -10%

$000 $000 $000 $000

Creditors 17 (21) - -

Debtors - - (1) 2

AUDdollaraccount (2) 2 (7) 8

Equities (39) 48 (21) 26

University and Consolidated This Year Last Year

InstrumentsheldinEUR +10% -10% +10% -10%

$000 $000 $000 $000

Creditors 1 (2) - -

Debtors - - - -

University and Consolidated This Year Last Year

InstrumentsheldinGBP +10% -10% +10% -10%

$000 $000 $000 $000

Creditors 6 (8) 2 (2)

GBPAccount (1) 2 (1) 2

Equities (32) 39 (19) 24

Explanation of interest rate risk sensitivity

Theinterestratesensitivityisbasedonareasonablepossiblemovementininterestrate,withallothervariablesheldconstant,measuredasabasispoints(BPS)movement.Forexampleadecreasein100bpsisequivalenttoadecreaseininterestratesof1%.

Explanation of currency risk sensitivityTheforeignexchangesensitivityisbasedonareasonablepossiblemovementinforeignexchangerates,withallothervariablesheldconstant,measuredasapercentagemovementintheforeignexchangerate.



Note 24: Financial Instruments continued

Credit RiskCreditriskistheriskthatathirdpartywilldefaultonitsobligationtotheUniversitycausingtheUniversitytoincuraloss.

FinancialinstrumentswhichpotentiallysubjecttheUniversitytocreditriskprincipallyconsistofbankbalances,intercompanybalancesandaccountsreceivable.CreditriskinrespectofbankandshorttermdepositsisreducedbyspreadingdepositsovermajorNewZealandregisteredtradingbankswithminimumS&PlongtermcreditratingofA+orminimumMoody’sInvestorslongterm

creditratingofA.Receivablesareunsecured,butaresubjecttocreditcontrol.Nocollateralisheld.

Credit quality of financial assets

ThecreditqualityoffinancialassetsthatareneitherpastduenorimpairedcanbeassessedbyreferencetoStandardandPoor’scredit

ratings(ifavailable)ortohistoricalinformationaboutcounterpartydefaultrates:



COUNTERPARTIES WITH CREDIT RATINGS $000 $000 $000 $000

Cash at Bank and Term Deposits

AA- 35,919 21,370 31,781 18,652

COUNTERPARTIES WITHOUT CREDIT RATINGS

Debtors and Other Receivables

Existingcounterpartywithnodefaultsinthepast 20,865 24,483 18,156 21,969

Existingcounterpartywithdefaultsinthepast - - - -

Total debtors and other receivables 20,865 24,483 18,156 21,969

LOANS TO RELATED PARTIES

Existingcounterpartywithnodefaultsinthepast - - 6,896 7,028

Existingcounterpartywithdefaultsinthepast - - - -

Total loans to related parties - - 6,896 7,028

Liquidity RiskLiquidityriskistheriskthattheUniversitywillencounterdifficultyraisingliquidfundstomeetcommitmentsastheyfalldue.Prudentliquidityriskmanagementimpliesmaintainingsufficientcash,theavailabilityoffundingthroughanadequateamountofcommittedcreditfacilities.

TheUniversityisexpectedtomaintaincombinedcashreservesandcommittedcreditlinesavailabletoaminimumof120%oftheforecastpeakfundingrequirementsatanyonepointoftimeinthefollowing12monthperiod.ThetablebelowanalysestheUniversity’sfinancialliabilitiesintorelevantmaturitygroupingsbasedontheremainingperiodattheBalanceSheetdatetothecontractualmaturitydate.Theamountsdisclosedarethecontractualundiscountedcashflows.



UNIVERSITY

Less than 6 months

Between 6 months

and 1 year

Between 1 and 5 years

ThisYear $000 $000 $000

Creditorsandotherpayables 11,061 - -

Borrowings 82 82 655

CurrentEmployeeEntitlements 2,649 1,314 -

LastYear $000 $000 $000



CurrentEmployeeEntitlements 2,094 1,008 0

CONSOLIDATED

Less than 6 months

Between 6 months

and 1 year

Between 1 and 5 years

ThisYear $000 $000 $000




LastYear $000 $000 $000






Note 25: Related Party Transactions

ThefollowingrelatedpartytransactionsoccurredbetweentheUniversityandWaikatoLinkLimited,ULeisureLimited(ULL)andtheir

subsidiaryBoathouseEventsLimited(Boathouse),TheUniversityofWaikatoFoundation(Foundation),TheStudents’CampusBuilding

FundTrust(SCBFT),LCoNewZealandLimited(LCoNZ),TheUniversityofWaikatoAlumniAssociationIncorporated(Alumni)(No

relatedpartytransactionsfor2013or2014),UniversityofWaikatoResearchTrust(UoWRT)andiEngagEdLimited,duringtheyear:

WaikatoLink ULL Boathouse Foundation SCBFT LCoNZ UoW RT iEngagEd

$ $ $ $ $ $ $ $

Paymentsin2014to: 1,750,000 752,016 96,500 - 28,339 31,203 1,393,000 752,699

(2013) 2,245,368 713,466 75,000 - 1,844 419,727 1,349,000 105,870

Receiptsin2014from:

117,459 281,768 3,418 726,894 246,309 - 19,857 -

(2013) 280,220 268,117 798 783,775 237,328 433,031 83,452 -

AccountsReceivableat31December2014owingfrom:

8,587,825 31,010 - - - - - 98,645

(2013) 8,686,851 47,399 - - - 17,000 - -

AccountsPayableat31December2014owingto:

- - - 49,824 1,559,153 - 13,467,000 -

(2013) 63,405 - - 11,308 1,341,182 233,574 14,229,000 25,491

Significant Transactions with Government-related EntitiesThegovernmentinfluencestherolesoftheUniversityaswellasbeingamajorsourceofrevenue.TheUniversityhasreceivedfunding

andgrantsfromtheTertiaryEducationCommissiontotalling$87.082M(2013–$87,822M)toprovideeducationandresearchservices

fortheyearended31December2014.TheUniversityalsoreceivesresearchfundingfromtheMinistryofBusiness,Innovationand

Employmenttotalling$10.1M(2013–$11.18M).TheUniversityreceivedfundingfromtheMinistryofEducationtotalling$21.7M

(2013–$15.2M)toprovideschoolsupportservices.TheUniversitypurchaseddomesticandinternationaltravelfromAirNewZealand

totalling$1.68M(2013–$1.80M).TheUniversityreceivedincomefromWINTECtotalling$1.29M(2013–$1.16M)fortheprovisionof

teachingservices.TheUniversitymadepaymentstoBayofPlentyPolytechnic(BOPP)totalling$1.53M(2013–$1.61M)tofacilitate

UniversityteachingintheBayofPlenty.TheUniversityalsosuppliedservicestotalling$127K(2013–$149K)toBOPP.



Collectively, but not individually, significant transactions with Government-related Entities.Inconductingitsactivities,theUniversityisrequiredtopayvarioustaxesandlevies(suchasGST,PAYEandACClevies)tothe

CrownandentitiesrelatedtotheCrown.Thepaymentofthesetaxesandleviesisbasedonthestandardtermsandconditions

thatapplytoalltaxandlevypayers.TheUniversityisexemptfrompayingincometax.TheUniversitypurchasesgoodand

servicesfromentitiesrelatedtotheCrownanditalsoprovidesservicestoentitiesrelatedtotheCrown.Thepurchaseand

provisionofgoodsandservicestogovernmentrelatedentitesfortheyearended31December2014aresmallwhencomparedto

theUniversity’stotalexpenditureandrevenueandhaveallbeenconductedonanarms’lengthbasis.Thepurchaseofgoodsand

servicesincludedthepurchaseofelectricityfromMercuryEnergy,airtravelfromAirNewZealand,andpostalservicesfromNew

ZealandPost.Theprovisionofservicestogovernment-relatedentitiesmainlyrelatedtotheprovisionofeducationalcourses.

Key Management PersonnelTheUniversityhasdefinedkeymanagementpersonnelasalldirectreportstotheVice-Chancellor,andmembersofCouncil.

TherearesomeclosefamilymembersofkeymanagementpersonnelemployedbytheUniversityandsomeenrolledasstudents.

ThetermsandconditionsofthosearrangementsarenomorefavourablethantheUniversitywouldhaveadoptediftherewere

norelationshiptokeymanagementpersonnel.KeyManagementPersonnel,andtheirclosefamilymembers,havealsohadthe

followingspecifictransactionswiththeUniversity:

1. AmemberofCouncilisadirectorofAduroGPLtd.DuringtheyeartheUniversityprovidedservicestotalling$51,642(2013–$2,701)andthebalanceowingatyearendwas$5,195(2013–$0).

2. TheUniversityreceivesvariousdonations,researchrevenueandconsultancyfeesfromGallagherGroupLtdandGallagherCharitableTrust,inwhichamemberofCouncilisadirector.Thesetotalled$172,656(2013–$164,172).Thebalanceoutstandingatyearendwas$0(2013–$0).

3. AmemberofCouncilisadirectorofTheNewZealandInstituteforPlantandFoodResearchLtd.DuringtheyeartheUniversityprovidedservicestotalling$24,327(2013–$22,538)andthebalanceowingatyearendwas$1,840(2013–$0).

4. AmemberofCouncilisadirectorofNewZealandVeterinaryPathologyLtd.DuringtheyeartheUniversityreceivedservicestotalling$592(2013–$431)andthebalanceowingatyearendwas$0(2013–$0).

5. AmemberofCouncilisCEOofTainuiGroupHoldings.DuringtheyeartheUniversityleasedpropertyfromTainuiHoldingstotalling$1,452,459(2013–$1,565,401)andthebalanceowingatyearendwas$0(2013–$0).DuringtheyeartheUniversityalsoreceived$1,167,001(2013–$0)andthebalanceowingatyearendwas$0(2013–$0).

6. AmemberofCouncilisadirectorofTeRunanganuiONgatiPorou.DuringtheyeartheUniversityprovidedservicestotalling$0(2013–$2,430)andthebalanceowingatyearendwas$0(2013–$0).TheUniversityalsopurchasedservicesfromTeRunangauiONgatiPoroutotalling$1,822(2013–$1,122),thebalanceoutstandingatyearendwas$0(2013–$0).

7. AmemberofCouncilisadvisertotheCEOofTeWānangaoAotearoa.DuringtheyeartheUniversityprovidedservicestotalling$17,643(2013:$81,944)andthebalanceoutstandingatyearendwas$0.TheUniversityalsopurchasedservicestotalling$800(2013–$2,317),thebalanceoutstandingatyearendwas$0.

8. AdirectreportoftheVice-ChancellorisadirectorofCognitionEducationLtd.DuringtheyeartheUniversityprovidedservicestoCognitionfor$1,881,440(2013–$1,665,704)andthebalanceowingatyearendwas$200,888(2013–$0).TheUniversityalsopurchasedservicestotalling$1,478,986(2013–$332,613)fromCognitionEducationLtdandthebalanceowingatyearendwas$133,939(2013–$99,465).

9. AdirectreportoftheVice-ChancellorisadirectorofHamilton&WaikatoTourismLimited.TheUniversitypurchasedservicestotalling$600(2013–$690)duringtheyearfromHamilton&WaikatoTourismLimitedandsuppliedservicestotalling$1,511(2013–$200).Therewerenooutstandingbalancesatyearend.



10. AdirectreportoftheVice-ChancellorisadirectorofPriorityOne.DuringtheyeartheUniversityprovidedservicestoPriorityOnefor$5,200(2013–$10,331)andthebalanceowingatyearendwas$0(2013–$7,331).TheUniversityalsopurchasedservicestotalling$25,000(2013–$10,000)fromPriorityOneandthebalanceowingatyearendwas$0(2013–$0).

11. AdirectreportoftheVice-ChancellorhasaspousewhoisCEOofTeWhareWānangaOAwanuiarangi.DuringtheyeartheUniversityprovidedservicestoTeWhareWānangaOAwanuiarangifor$217(2013–$12,327)andthebalanceowingatyearendwas$0(2013–$0).TheUniversityalsopurchasedservicestotalling$1,139,410(2013–$421,517)fromTeWhareWānangaOAwanuiarangiandthebalanceowingatyearendwas$0(2013–$0).

12. AmemberofCouncilresignedasCFOofZespriInternationalLtdin2013.During2013theUniversityprovidedservicestotalling$9,450andthebalanceowingatyearendwas$0.

13. AdirectreportoftheVice-ChancellorrentedahousefromtheUniversityduring2013,totalreceived$9,147,amountoutstandingatyearendwas$0.

14. TheUniversityalsohaskeymanagementpersonnelservingontheboardofWaikatoLinkLimitedandULeisure.TheUniversity’sdealingswithWaikatoLinkLimitedandUleisureLtdaredisclosedabove.

Noprovisionshavebeenrequired,norexpenserecognisedforimpairmentofreceivablesforanyotherloansorotherreceivables

torelatedparties(2013–$946,246).

Note 25: Related Party Transactions continued



Note 26: Contingent Liabilities

University Contingent LiabilitiesAguaranteehasbeengiventotheBankofNewZealandforanoverdraftfacilityof$53,000.

(2013–$53,000)onacontinuingbasistotheCampusCrecheTrust.

TheUniversityroutinelymonitorsthefinancialperformanceofCampusCrecheTrust.

Thelikelihoodoftheguaranteebeingcalleduponisestimatedtobeverylow.

TheUniversityisawareofpotentialpaymentstotwostaffmembersofapproximately$30,000.

Therearenootherknowncontingentliabilities.

Share of Subsidiaries’, Associates’ and Joint Ventures Contingent LiabilitiesForthesubsidiariesandassociatesincludedintheconsolidatedfinancialstatementstherearenootherknowncontingentliabilities.

Note 27: Capital Management

TheUniversity’scapitalisitsequity,whichcomprisesretainedearningsandreserves.Equityisrepresentedbynetassets.

TheUniversityissubjecttothefinancialmanagementandaccountabilityprovisionsoftheEducationAct1989,whichincludes

restrictionsinrelationtodisposingofassetsandinterestsinassets,abilitytomortgageorotherwisechargeassetsorinterests

inassets,grantingleasesoflandorbuildingsorpartsofbuildings,andborrowings.

TheUniversitymanagesitsrevenues,expenses,assets,liabilities,investmentsandgeneralfinancialtransactionsprudentlyto

ensuretheresponsibleuseof,andaccountabilityforpublicresources.

TheUniversity’splanningprocessincludesthedevelopmentoftheUniversityStrategy,AcademicPlan,InvestmentPlanand

budgets.TheseplanssetouttheUniversity’sactivitiesforthenextonetothreeyears.TheUniversity’soperationalbudgetis

setannuallyandensuresthattheplannedactivitiesareappropriatelyfundedandthatexpenditurerequirementsoftheplanned

activitieshavebeenidentified.TheUniversity’sbudgetissetataleveltoensurethattheUniversity’soperatingactivitiesare

fundedfromoperatingcashflowsandalsothattheUniversity’soperatingactivitiesgeneratesufficientcashflowstofundthe

capitalexpenditurerequirementsoftheUniversity.

TheUniversityhasinplaceassetmanagementplansformajorclassesofassetsincludingmaintenanceandrenewalprogrammes.

AbudgetforcapitalexpenditureissetannuallyandisfundedfromcashgeneratedfromtheUniversity’soperatingactivities.

TheUniversityhascreatedareservewithinequity,forPrizes,scholarshipsandTrustFunds.Thisreserverepresentsfundsheldby

theUniversityonbehalfofothersandfundsprovidedtotheUniversitybyvariouspeopleandarerestrictedforspecificpurposes.



Note 28: Commitments

Capital CommitmentsTheUniversityhasthefollowingcapitalexpenditurecontracted:



$000 $000 $000 $000

CapitalCommitments 19,882 2,552 19,882 2,552



Note 29: Explanations of Major Variances against Budget

Note 30: Events after Balance Sheet Date

Explanationsformajorvariationsagainstthebudgetinformationatthestartofthefinancialyearareasfollows:

Statement of Comprehensive IncomeGovernment Funding and Grants

GovernmentfundingandgrantsreceivedbytheUniversitywere$3.6millionmorethanbudget.Thisfavourablevariancewaslargely

duetotheInstituteofProfessionalLearningandDevelopment(IPLD)receiving$3millionmorethanexpectedincontracts.The

UniversitywasalsograntedadditionalStudentAchievementFunding(SAC)afterthe2014budgetwasset.

Tuition Fees

Tuitionfeeswere$1.8millionlessthanbudgetduetodisappointinginternationalenrolmentsin2014.TheUniversityenrolled104

lessequivalentfull-timeinternationalstudentsthanwashoped.

Research Revenue

OnceagaintheUniversityreceivedmoreresearchrevenuethanbudget.Theadditional$2.1millionreceivedwaspredominantlyin

theareasofEducationandScience.

Investment income

DuetotheslowerthanexpectedstarttoconstructionoftheLaw/ManagementbuildingtheUniversityheldhigherbankdepositsthan

expected,thisresultedin$0.5millionmoreinterestthanbudgeted.

Other Income

Manyareasfellshortoftheirotherincomebudgetin2014,someexampleswerePathwayscollege,studentaccommodationand

carbondatinganalysis.Forabreakdownofthesignificantitemscomprisingotherincomeseenote4.

Personnel Costs

Universitypersonnelcostswere$1.7millionmorethanbudget,$0.9millionofthiswastheactuarialvaluation(seenote5)being

higherthanexpected,and$0.8millionbeingretirementcosts,duetotheunpredictablenatureofthesecoststheUniversitydoesn’t

budgetforthem.

Other Costs

TheUniversityspent$3.6millionmorethanbudgetedinothercosts,theadditionalincomebroughtinbyIPLD,FacultyofEducation

andFacultyofScience&Engineeringresultedinanincreaseinthecostsintheseareas.TheUniversityalsospent$1.2millionmore

thanbudgetonadvertisingaspartofanongoingcampaigntoattractnewstudentstotheUniversityofWaikato.Forabreakdownof

thesignificantitemscomprisingothercostsseenote6.

11AntsAnalyticsLimited,asubsidiaryofWaikatoLinkLimited,hasexecutedasaleandpurchaseagreementforthesaleofits

physicalandintangibleassets.



Council and Senior Staff

Dean of Māori & Pacific Development ProfessorLindaSmith

Pro Vice-Chancellor (Māori) ProfessorLindaSmith

Pro Vice-Chancellor (International) AssociateProfessorEdWeymes

Pro Vice-Chancellor (Education) ProfessorRobynLonghurst

Pro Vice-Chancellor (Postgraduate) ProfessorKayWeaver

Pro Vice-Chancellor (Research)ProfessorAlGillespie

Assistant Vice-Chancellor (Executive) HelenPridmore

Assistant Vice-Chancellor (Operations) AnnaBounds

Pro Vice-Chancellors

Assistant Vice-Chancellors

Dean of Arts & Social Sciences ProfessorRobertHannah

Dean of Computing & Mathematical Sciences ProfessorGeoffHolmes

Dean of EducationProfessorRogerMoltzen

Dean of Law ProfessorBradMorse

Acting Dean of ManagementAssociateProfessorJohnTressler

DeansDean of Science & EngineeringProfessorBruceClarkson

Council Members

RtHonJimBolger(Chancellor)

DrBrianLinehan(Pro-Chancellor)

ProfessorRoyCrawford

ProfessorBarryBarton

MsReneeBoyer

DrAlisonCampbell

MsJeanetteClarkin-Phillips

MrMervynDallas

MrIanFitzgerald

DrJohnGallagher

MsJanJameson

DrApiranaMahuika

MrToddMuller(to9June2014)

MrTrevorMoeke

MrWeiChengPhee

MrMikePohio

MrKingiTurner

MrTonyWhittaker

Senior Leadership Team

Vice-ChancellorProfessorRoyCrawford

Deputy Vice-ChancellorProfessorAlisterJones

127Annual Report 2014 127Annual Report 2014

Senior Leadership Team continued

Staff promoted to professor in 2014

Chief Financial Officer AndrewMcKinnon

Head of Communication and External Relations DavidCraig

Head of Facilities Management JohnCameron

Head of Human Resource Management CaroleGunn

Head of Student and Academic Services MichelleJordan-Tong

Faculty of Arts & Social Sciences CathyColeborne

Faculty of Education JohnWilliams

Faculty of Science & Engineering BrendanHicks

Faculty of Science & Engineering BrianGabbitas

Faculty of Science & Engineering KimPickering

Waikato Management School KathrynPavlovich

University Librarian RossHallett

Tauranga Partnership Liaison Manager DrNigelCalder

Director of DevelopmentBradWeekly

Tauranga

Development

CFO Librarian

Heads

New professorial appointments in 2014

Faculty of Education RichardMasters

Faculty of Science & Engineering ChadHewitt

Faculty of Science & Engineering MarnieCampbell

Head of Information Technology Services KevinAdamson


Glossary of Abbreviations

Glossary of Abbreviations

ACE AdultandCommunityEducation

EEO EqualEmploymentOpportunity

EFTS EquivalentFull-TimeStudent

EPI EducationalPerformanceIndicator

FASS FacultyofArts&SocialSciences

FCI Full-CostInternational

FCMS FacultyofComputing&MathematicalSciences

FCO Full-CostOther

FEDU FacultyofEducation

FLAW FacultyofLaw

FRE FormativeResearchExercise

FSEN FacultyofScience&Engineering

FTE Full-TimeEquivalent

ICT InformationandCommunicationTechnology

IP IntellectualProperty

IT InformationTechnology

KPI KeyPerformanceIndicator

MF Ministry-Funded

MOE MinistryofEducation

OAG OfficeroftheAuditorGeneral

PBRF Performance-BasedResearchFund

RDC ResearchDegreeCompletion

RPG ResearchPostgraduate

RS ResearchSupplement

SAC StudentAchievementComponent

SMPD SchoolofMāori&PacificDevelopment

STAR SecondaryTertiaryAlignmentResource

TEC TertiaryEducationCommission

TEI TertiaryEducationInstitution

TPG TaughtPostgraduate

WMS WaikatoManagementSchool



Glossary of Terms

Glossary of Terms

Academic staff:Staffwhoseconditionsofemploymentrequireteachingand/orresearchtobeundertaken.

Domestic students: StudentswhoareNewZealandcitizens,whichincludecitizensoftheCookIslands,NiueandTokelau,

orNewZealandpermanentresidentscurrentlylivinginNewZealand,orAustraliancitizenscurrentlylivinginNewZealand,

orAustralianpermanentresidentswhohaveareturningresident’svisaandarecurrentlylivinginNewZealand.

EFTS (Equivalent Full-Time Student):Themeasureusedbyalltertiaryeducationorganisationsforreportingstudentnumbers.

AttheUniversityofWaikato,1EFTSequatestoastudentworkloadof120points(1200totallearninghours).

Ethnicity:Studentscanself-reportuptothreeethnicities;resultsgeneratedbystudentsagainstthe‘first’ethnicityarereported.

Faculty: IncludestheSchoolofMāori&PacificDevelopment.

FCI (Full-Cost International): Associatedwithinternationalstudents,doesnotattractSACfunding.

FCO (Full-Cost Other):DoesnotattractSACfundingfromgovernmentbecausethestudentconcernedisundertakingfull-time

studyinanotherpartofthesector(egsecondaryschoolstudent),orisundertakingafull-feedomesticprogrammeofstudy

(egsomeCorporateandExecutiveEducationprogrammes).

FTE (Full-Time Equivalent):Themeasureusedforreportingemployeenumbers.1.0FTEisequivalenttoafull-timeemployee

forawholecalendaryear.Avalueoflessthan1.0FTErepresentseitherapart-timeemployee,oranemployeeworkingfull-time

forlessthanonecalendaryear.

Interim:ResultssubjecttoconfirmationbytheTECfollowingsubmissionoftheApril2014SDR(orinthecaseofRDC’s,

subsequentSDRs);finalresultswillbereportedinsubsequentStatementsofServicePerformance.

International students: Studentswhodonotsatisfythecriteriafordomesticcitizenship.

MF (Ministry-Funded):AttractsSACfunding.

New students:StudentsenrolledforthefirsttimeinaformalqualificationattheUniversityofWaikato.

Other staff:Staffwhoseconditionsofemploymentdonotrequireteachingand/orresearchtobeundertaken.

RDC (Research Degree Completion):Countofqualificationcompletionswithanexternallyassessedresearchcomponent

ofgreaterthanorequalto0.75EFTS,andwhichattractweightingsdeterminedbytheTECforsubject,studentethnicity

andthevolumeofresearchwithinthequalification.

Research Revenue:Thesumofboth‘PBRF-eligibleexternalresearchincome’and‘non-PBRFeligibleresearchrevenue’

(thesetermsaredefinedindetailbytheTECforPBRFpurposes).

School leavers:StudentswhowereenrolledatasecondaryschoolinNewZealandoroverseasintheyearpriorto,orsame

yearas,enrollingattheUniversityofWaikato.

SAC (Student Achievement Component) funding:Government’scontributiontothedirectcostsofteaching,learning,

andothercostsdrivenbydomestic(andsomeinternationalPhD)studentlearnernumbers.


Notes

130

Page 5 – Total EFTS by ethnicity:

ThiscountsEFTSbyastudent’sfirstrecordedethnicity.Studentsmayselectuptothreeethnicities.

Page 19 – Research enrolments:

ThenumberofstudentswhowereenrolledinpapersthatwereeligibletobecountedforRDCpurposes.

Page 32 – Sustainability chapter:

EconomicimpactinformationfromDrWarrenHughes’TheUniversityofWaikato:RegionalandNZeconomicimpactsfor2014.

Page 44-49 – Statistical information:

Numbersinthissectionmaynotaddduetorounding.

EFTScountsthosegeneratedinbothassessedandnon-assessedpapersunlessspecifiedotherwise.

Page 44 – Total students by origin:

Thedatainthesetablescountstudentsenrolledinformalprogrammesonly.

Core Region:WaikatoandBayofPlenty(includesCoromandel).

Inner Periphery:AucklandCity(Southern),Gisborne,Taranaki,Manawatu,Wanganui.

Outer Periphery:Hawke’sBay,Northland.

Page 44 – Total qualifications completed by level:

Thedatainthesetablescountstudentscompletingformalprogrammesonly.

Foundation Certificate:CertificateofAttainmentinEnglishLanguage,CertificateofAttainmentinAcademicEnglish,

CertificateofAttainmentinFoundationStudies,andtheCertificateofUniversityPreparation.

Degree-level:Undergraduatedegrees,certificates(undergraduateandgraduate)anddiplomas(undergraduateandgraduate).

Graduate/Postgraduate:Graduatedegrees(includingbothone-yearandfour-yearhonoursdegreesandmastersdegrees),

postgraduatecertificatesandpostgraduatediplomas.

Higher Degree:MastersofPhilosophyandDoctorates(PhD,EdD,SJD,DMA).



Page 45 – Total EFTS by Level:

Sub-degree:ComprisingpapersthatfittheMOEcriteriaforRS1funding,whetherMForFCI,excludingpapersthatareeligiblefor

ACEfunding.

Degree:ComprisingpapersthatfittheMOEcriteriaforRS2funding(whetherMForFCI).

Taught Postgraduate (TPG):ComprisingpapersthatfittheMOEcriteriaforRS3funding,whetherMForFCI.

Research Postgraduate (RPG): ComprisingpapersthatfittheMOEcriteriaforRS4orRS5funding.

ACE (Adult and Community Education):Non-assessedandattractsACEfundingfromGovernment(until2013).

Page 46 – Total EFTS by Organisational Unit:

ThiscountsEFTSbytheorganisationalunitthat‘owns’therelevantpapers.Until2009thePathwaysCollegewasseparatefrom

theFacultyofEducation.From2010thePathwaysCollegewaspartoftheFacultyofEducation.

Page 47 – Research Revenue:

AnnualresearchrevenuecountsbothPBRF-eligibleandnonPBRF-eligibleresearchrevenue.AcademicFTEresearchcountsFTE

generatedby“teachingandresearch”and“researchonly”academicstaffoncontinuingappointments(iefixed-termandcasual

staffareexcluded).

Page 47 – Research Publication Count by Type:

ThisdiffersfromdataprovidedinpreviousyearsduetothechangeintheUniversity’spublicationsoftware.

Researchoutputshavebeencountedonceinafaculty.Ifapublicationisco-authoredbystafflocatedindifferentfacultiesit

willbecountedonceineachofthesefaculties.Thiscouldresultinaresearchoutputbeingcountedmultipletimeswithinthe

Universitybutunlikepreviousyears,doesnotunderstateafacultiescount.

InpreviousyearsresearchoutputswerecountedonceinafacultybasedontheirfirstrecordedUniversityofWaikatocontributor.

egresearchco-authoredbystafflocatedinFASSandFEDUwasonlycountedinONEfaculty,notbothfacultiesandso

understatedthecountinoneofthefaculties.

Page 49 – Total Staff FTE by Organisational Unit:

Until2012,onlySMPDstaffnumberswerecountedinthisdata.

COLD AS ICE: Jason Watson lowers Professor Craig Cary down an ice chimney where he and other Waikato scientists characterise the microbial communities residing in the thermal soils of Mt Erebus to study aspects of endemism and global biogeography.

The University of Waikato Toll Free: 0800 WAIKATO Private Bag 3105 0800 924 528 Hamilton 3240 Email: [email protected] New Zealand Website: www.waikato.ac.nz

©The University of Waikato, March 2015

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