Massey University (Massey) continued to improve its educational performance and remained in a sound financial position in 2014.
In the 2014 annual report, Chancellor Chris Kelly highlighted several of Massey’s achievements. These included celebrating 50 years as a fully-fledged, stand-alone university, the launch of the Massey Worldwide project, encompassing various international education initiatives, and its new strategy, Shaping the Nation and Taking the Best to the World, The Road to 2025. He further cited a series of infrastructure projects, including refurbishment of the Veterinary Tower at Manawatū, seismic strengthening of all Wellington buildings and construction of a student accommodation block at Albany.
Vice-Chancellor Steve Maharey also recognised several of Massey’s achievements, including completing stage one of the integrated Massey curriculum project, which included new degrees in retail and creative media production, a fundamental review and relaunch of the Bachelor of Arts, and the launch of four new applied research centres – Pacific Research and Policy, the New Zealand Indigenous Flora Seedbank, the AL Rae Centre for Quantitative Genetics and the Massey Agricultural Experiment Station. Other achievements included ranking as the New Zealand education sector’s most attractive employer brand in the Randstad Awards, securing further funding for the Riddet Institute CoRE and being selected as the host of the Government’s new Food Safety Science and Research Centre.
Massey’s enrolments fell by 3 percent (506 EFTS) in 2014. Its delivery was primarily focused at Levels 7–8 (83%) and Levels 9–10 (12%), with provision concentrated in Management and Commerce (21%), Society and Culture (21%) and Creative Arts (15%).
Māori participation (11%) was slightly above the university sector average, while Pasifika participation (4%) was below the average. Massey was well below the university average for participation of under-25-year-olds, at 56 percent (the sector average was 75 percent), reflecting Massey’s high proportion of extramural and part-time enrolments, which tend to comprise students aged over 25 years. Massey had 2,322 full-fee paying international EFTS (3,224 students).
Massey’s comparatively high volume of extramural enrolments (around 39%) continued to affect its performance against the EPIs, compared with other New Zealand universities. In 2014, Massey was below the university sector average for all EPIs except student progression where, at 68 percent, it was significantly higher (18 percentage points) than the sector average.
Educational performance for all TES priority groups (Māori, Pasifika and under-25-year-olds) was below the university sector averages for each indicator except student progression, which was above the sector average for all groups. There were, however, significant improvements in both course and qualification completions for Pasifika (5 percentage points and 13 percentage points respectively). Qualification completion and student retention increased for Māori by 4 percentage points and 2 percentage points respectively. These improvements are the benefits resulting from a more targeted approach to student recruitment, retention and progression.
In 2014, Massey achieved a net surplus of $9.1 million (2.0%), an improvement of $0.8 million (9.4%) over 2013, driven by increases in total revenue and a $0.2 million share of associate entity profits.
Despite a $3.8 million (–2.1%) reduction in government revenue, Massey’s total revenue increased by $4.6 million (1.0%) from 2013 to 2014. This was primarily due to a $4.5 million (9.4%) increase in international student fees, a $1.2 million (1.2%) increase in charges for services and a $1.1 million increase in other asset domains relating to livestock and forestry valuations and other agri-linked resources.
Despite an increase in personnel expenditure of $8.6 million (3.4%), total expenditure only increased by $4.0 million (0.9%) mainly due to cost savings secured across direct operating costs.
Total assets have increased by $131.9 million (12.0%) between 2013 and 2014 to $1.2 billion. Total equity has also increased by $113.8 million to exceed $1 billion for the first time.
|2014 Performance||Massey |
|Students under 25||56%||75%|
|Course Completion (SAC)|
|2014 Performance||Massey |
|Students under 25||81%||86%|
|Qualification Completion (SAC)|
|2014 Performance||Massey |
|Students under 25||67%||74%|
|Overview of Educational Performance|
|Enrolments||2014 % of University sector||2012||2013||2014|
|Student Achievement Component (SAC) EFTS||13%||16,874||16,100||15,594|
|International full fee paying students EFTS||16%||2,189||2,312||2,322|
|International full fee paying students||17%||3,034||3,329||3,224|
|Educational Performance Indicators - SAC||University sector||2012||2013||2014|
|Successful Course Completion||86%||80%||80%||80%|
|Student Progression L1-4||50%||22%||58%||68%|
|Overview of Financial Performance*|
|Summary Financial Statements (NZ$000)||2012||2013||2014|
|Total government revenue||$179,003||$185,462||$181,632|
|Domestic student fees||$97,762||$97,431||$97,269|
|International student fees||$42,048||$47,630||$52,125|
|Net surplus (after unusual and non-recurring items)||$9,119||$8,350||$9,134|
|Equity (net assets)||$938,841||$949,464||$1,063,256|
|Net cashflow from operations||$56,686||$62,183||$72,467|
|Total EFTS to total staff FTE||6.6:1||6.4:1||6.2:1|
|Total EFTS to teaching staff (academic and tutorial staff FTE)||17.1:1||16.8:1||16.2:1|