High cost structures meant it had been unable to make a profit from its educational services since 2007, despite assistance from the Government.
In the last three Budgets the Government had boosted its tuition subsidy to correct a funding anomaly and provided $100 million, the university’s contribution to the new Lincoln science hub.
“It has struggled to some degree and obviously the earthquake didn’t help.
“But what they have to do now is focus on getting their cost drivers right and on their core business in the agricultural sector, broadly in the degree level and above, which is important.”
The university has announced a Refreshing Lincoln programme to look at all aspects of the business to address slow roll growth and ongoing financial deficits.
It was seeking input from industry and interested groups on how to turn itself around.
“We have tried to give as much support as we can but ultimately they have got to determine how they will operate and come up with a model that works and is sustainable.”
Joyce did not have a view on Lincoln’s small size. While it could be argued successful tertiary institutions had scale, Lincoln was a specialist institution and internationally there were successful small, specialist universities.
Lincoln had 1591 equivalent full time students this year (1496 last year) and 514 on its farm training Telford campus in south Otago.
Joyce said the planned science hub at Lincoln, a joint venture with Crown research institutes, was important to the university though it could exist without it.
“But it adds a whole lot of benefits to the campus.”
He hoped that as well as the CRIs, the hub would attract private science companies to create a mix of pure scientists working alongside those close to markets.
Joyce was also open-minded about Lincoln retaining Telford.
