Unitec makes $31m deficit, advisor appointed

Unitec, the country's largest polytechnic, has reported a $31 million defict for 2017. Auditors are warning the institution's viability is in question after it lost 660 full-time students last year, about 7% of its total. The institute's auditors say its income and liquidity this year are inherently uncertain. The interim chief executive at Unitec, Alastair Carruthers, told our education correspondent, John Gerritsen, there won't be a sudden turnaround in fortunes, but things could have been a lot worse.