Wintec Annual Report 2009

FINANCIAL PERFORMANCE
2009 STATEMENT OF SERVICE PERFORMANCE (CONT)
WINTEC’S INVESTMENT PLAN KPIs
INVESTMENT GUIDANCE KPI TARGET OUTCOME COMMENT
Percentage of TEC students in
employment or further study six
months after completion
Two-year qualification completion
rates for 1 EFT programmes
(Level 4 and above, TEC EFTS)
Mā ori Enrolments (TEC EFTS)
as % of total TEC enrolments
Pasifika Enrolments (TEC EFTS)
as % of total TEC enrolments
Total 95.0% 90.0%
Mā ori 95.0% 87.3%
Pasifika 90.0% 92.9%
- 38.0% 23.2%
- 21.0% 24.2% Achieved.
- 3.8% 3.0%
Student satisfaction rate (TEC EFTS) - 85.0% 90.27%
EFTS: Academic staff FTES ratio
(excluding online EFTS)
- 18.6:1 18.6:1 Achieved.
Total Staff expenditure ($M) - 31.66 38.71
Total staff expenditure as % of
Revenue
Total TEC (SAC and TEOC) revenue
($M) (including agreed 2009 and
2010 additional support of $0.9M p.a.)
- 49.1% 53.13%
- 38.90 40.97
Total revenue ($M) - 64.50 72.86
Total expenditure ($M) - 64.45 71.11
Surplus/Loss (before extraordinaries)
($M)
- 0.06 1.97
Surplus/Loss as % of revenue - 0.10% 2.7%
EBITDQ (Earnings before Interest,
Tax, Depreciation and QRP)
Percent of planned TEC EFTS achieved - 97%-103%
The 2009 target was a stretch target. The outcome, which
was 2.4% down on 2008 levels is reflective of changes in
regional employment levels in 2009.
As above; the outcome achieved was a 3.6% decrease
on 2008 levels.
Achieved. Due to the relatively small numbers involved, the
outcomes for Pasifika are prone to significant fluctuation.
Reduced performance in a small number of programmes
contributed to a decline in overall completion rates.
Due to the relatively small numbers involved, the outcomes
for Pasifika are prone to significant fluctuation.
Achieved. A new measurement scale was
introduced in 2009.
The 2009 target was based on preliminary and
conservative financial modelling which excluded significant
revenues and associated costs.
The 2009 targets assumed greater staffing cost reductions
than necessary based on conservative financial modelling.
Outcome reflects increased income from TEC
as a result of confirmed adjustments to cap.
Reflects conservative financial modelling and increased
funding from TEC, increased domestic fees revenue and
increased revenue from international students.
Reflects conservative financial modelling and increased
expenditure linked to increased revenue and provision.
Reflects the increased effectiveness
of Wintec’s operations.
Improved profitability through a combination
of efficiencies and increased student volumes.
- 8.66 9.42 An outcome of improved profitability.
99.7% funding
96.7% EFTS
Achieved.
Wintec Annual Report 2009 _ 83