University of Otago reports operating deficit much larger than expected

Otago's US and Europe study abroad programme returned this year but domestic enrolments were down.

Fri, 10 May 2024

The University of Otago has reported a larger operating deficit than predicted for the last calendar year.The Dunedin institution recorded a $20.62m deficit for its university accounts, 73% more than the $11.9m it had budgeted.Chancellor Stephen Higgs and acting vice-chancellor Helen Nicholson, in a joint introduction to Otago's annual report, described 2023 as “a financially difficult year”.But when revenue of $26.98m from the university's investments, including unrealised gains of $14.4m, was considered, its consolidated r...

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