28 Feb 2013

Canterbury University seeks financial help

4:28 pm on 28 February 2013

Canterbury University is seeking financial help from the Government after posting an annual loss of $67 million, compared to a surplus of $28 million in 2011.

The university says about $40 million of that is related to earthquake recovery and a further $20 million reflects the depreciation of library materials.

Vice-Chancellor Rod Carr said it is crucial the university progresses negotiations with the Government about funding to help develop its areas of distinctiveness.

Dr Carr said the Cabinet has agreed in principle to provide some funding and that support will ensure the university remains financially viable.