Western Institute of Technology at Taranaki (WITT) has turned in a  good surplus and has had its debt wiped, so is it out of the woods financially? After having its debt apparently written off in late 2008, the new National government wouldn’t sign off on the paperwork. But last week the Taranaki Daily News reported that $12m had now been written off, with a further $5m being repaid in the 2020-25 period. WITT also had a $0.8m surplus in 2009, against a budgeted $0.5m loss. Enrolment numbers have swelled due to a mix of the recession, good marketing and new courses. All good reasons for a happy Chair and CEO.

It all looks great, but there are still a few tough years ahead. WITT is currently receiving some funding top-ups that end this year and it will struggle without them, as will other ITPs. While those funds could be continued in some form, the TEC is shifting towards a much cleaner and simpler funding approach, within and between sectors. Extra funding for ITPs, compared to PTEs, may be quite hard to justify unless there are some other deliverables from the ITPs (tangible ones that is, not just rhetoric). WITT is heading down the right track, offering courses people want and living within its means, but the challenge is whether it can thrive without the current support funds. I know Richard Handley and the team will be working hard on that.