At that stage, things were admittedly looking rather grim. Professor Parker had inherited a $16 million deficit, an old and rather brutalist campus, and a demoralised staff.

Undeterred, he outlined a vision for UC which included a raft of new courses to educate a territory-relevant workforce, fostering national think-tank capabilities and securing a place on international university league tables.

He hoped for an injection of life on campus, a pervasive culture of creativity, a more cosmopolitan concourse, and a reason to visit UC once classes were out for the day.

Professor Parker also dared to dream of a surplus, a strong non-government revenue stream and the development of savvy commercial interests.

And despite meeting a disheartened workforce who were panicked about job security, Professor Parker promised stability and, if and when a surplus allowed, the sharing of UC financial success with his staff in order to engender a sense of pride and connection to the institution.

Come 2015, and you could argue that all of these things – for the main part – have been achieved. And still, Professor Parker's vision for UC to 2030 continues to grow.

Just last month, UC staff were part of a national first when they received their inaugural dividend of part of the UC's surplus.

The Employee Bonus Scheme was announced last year and pledged to distribute a pool of money among employees if the university exceeded its target surplus required to reach a 5 per cent annual surplus by 2018.

This year it did just that, reaching a surplus of $5.87 million after adjusting for one-off items – an almost inconceivable outcome when Professor Parker first eyed his balance sheet in 2007.

As promised, a total pool of $1,034,531 was divvied up amongst eligible permanent employees.

There were 840 eligible staff who were paid on their full-time equivalence. So a full-time employee received $1,133.97, while a part time worker on half those hours received $566.99.

The bonus also included a 9.5 per cent super contribution paid to the employee's nominated super fund an allowance for on-costs.

Feedback from staff has been positive, although there is support for the idea that sessional and casual staff should be included in future.

Professor Parker said he felt satisfied about the payment.

"I want staff to feel they have a stake in the university, encouraged to bring in more revenue and to contain costs. I like the traditional organisational model of a co-operative, and would like us to bring similar features to UC."

Indeed, apart from some opposition to early plans to outsource the role of 100 administrative staff when Professor Parker took office in 2007, the industrial scene at UC has been remarkably calm – particularly when contrasted with that of the Australian National University.

In fact, Professor Parker endeared himself to the academic's union this year when he became the lone voice of dissent against Federal Education Minister Christopher Pyne's fumbling attempts to deregulate university fees.

It was seen as a personally heroic act – not only because he was the only Vice-Chancellor prepared to publicly state his minister should go, but because his plea not to saddle future generations of undergraduates with excessive debt meant the UC would miss out on certain increased revenue.

Disturbingly this week, revelations that the Commonwealth has cancelled a $26 million grant to the UC for a new Centre for Teaching and Learning has seen federal Labor accuse the Government of payback over Professor Parker's independent mindedness.

Mr Pyne's office has rebuffed the suggestion, saying both the deregulation decision and cut to the UC were made in the same federal Budget. But the labelling of the centre as a complete waste of taxpayer's suggests the relationship between the Commonwealth and the UC is certaintly not great. And a potential court battle now looms.

In the public relations sphere, however, Professor Parker's outspokeness has been a masterstroke – earning him not only the grateful thanks of the National Tertiary Education Union, but national media attention leading to support from students and parents alike who were wary of future degree bills reaching hundreds of thousands of dollars.

Since the early days of his vice-chancellorship, when he vociferously emphasised the need for Commonwealth investment in the future of the country through its university system, Professor Parker has accepted – rather begrudgingly – this is not going to happen. No matter the moral imperative.

He knows future funding will increasingly come not from Commonwealth coffers, but from sound business decisions and from increasing UC's popularity among prospective undergraduates both here and overseas.

"Self-reliance is the order of the day and we need to make our own way in the world, conscious that as Australian society ages there will be competing demands for the public dollar from health and social services."

Since 2007, student numbers have increased from 10,756 to over 17,100 this year. Academic staff numbers have risen from 339 to over 450 this year while total staff numbers, even after past outsourcing, have risen from 869 to over 1000.

Overseas students – who pay the most for the privilege of an Australian degree – are also on the incline, rising from 2457 in 2007 to over 4000 this year.

To accommodate them, UC has built 1500 new bedrooms in student residences.

The UC's think-tank capacity has continued to grow – and earn increasing research dollars through its National Centre for Social and Economic Modelling, Institute of Applied Ecology and Institute of Governance. New think tanks include the UC Research Institute in Sport and Exercise (UC RISE) and the Health Research Institute.

And in 2013 UC reached its goal of an international ranking when it placed in the 600-650 category of the QS World Rankings, one of the three major sets of university rankings – placing UC in the top 5 per cent of universities in the world and two years ahead of schedule.

Meanwhile, UC has also increased its sporting muscle. In 2013, Professor Parker and ACT Chief Minister Andrew Barr – then Sports Minister – turned the first sod on the $16 million sporting commons and new home for the ACT Brumbies – paving the way for the UC to begin operations as a sports science centre of excellence.

Sports student numbers have risen exponentially – reaching more than 750 at the start of this year while UC RISE has provided high-level research facilities used by an increasing number of masters by research and PhD students often in joint-partnerships with the Australian Institute of Sport.

But the biggest financial news for UC came last month, when the ACT government finally tabled its variation to the Territory Plan paving the way for Professor Parker's grandest vision – a $1 billion campus redevelopment that includes a teaching hospital, a private hospital, health care facilities, 3300 sustainable apartments and townhouses, aged care facilities, childcare facilities, a hotel and a technology park.

"Funnily, the vision I have now is far bigger than the one I had back in 2007, and I never for a moment thought we would reach the successes we have achieved now in 2015," he said.

When asked to nominate the most difficult hurdle in his stewardship, Professor Parker admits "Canberra's planning system has presented considerable challenges". UC was, in fact, given the green light for redevelopment by then Chief Minister Jon Stanhope back in 2008 – seven years prior to the legislation being changed.

It has not been without considerable personal effort from Professor Parker, who has maintained a punishing schedule of consultations, briefings, promotions, engagements with developers and accompanying travel. Along the way he has waved away interest from other institutions – committing to stay at the helm of UC until the end of next year.

While some of the developers of the Belconnen Town Centre have expressed alarm at the UC's impending expansion - concerns supported by the Canberra Liberals in the Assembly this week - Professor Parker is keen for the Bruce campus to be an extension of the town centre – not a competitor to it. He is now engaging with the community directly through open forums with the Belconnen Community Council.

His boldest vision for UC is to become a world leader in "providing a seamless work-integrated learning campus – providing both a lecture theatre and a workplace."

"As higher education gives way to the cloud, students are increasingly going to need a reason to come to campus, and we are going to integrate all their learning with hands-on experience."

The university's research profile would benefit from access to massive new data banks being created on site – particularly in the health field. And the campus would need to expand to accommodate an estimated 12,500 more residents, students, patients, children and staff than it currently holds.

Meanwhile, things are looking up for the current crop of staff and students.

Development already completed on campus, particularly around the student residences has improved the liveability factor and made the student experience far more palatable. Since 2007, UC has acquired its well-frequented Zierholz Brewery, and last month welcomed its newest bar, The Well. Where students once existed on scant food options in the refectory, there are now a number of cafes, a supermarket, even a vintage clothes shop Yellow Canary.

Fostering inter-student discussion outside of the formal text-book list is the annual UC book – a novel given free to all students to enjoy at their leisure and often used to spark assignments and research. Past books include Jasper Jones, Room and this year The Rosie Project.

Meanwhile, Professor Parker still has time for his more romantic notions.

His 2007 desire to discover the next Coldplay has yet to materialise. But he's still at it – with the UC offering $10,000 through its UC Vision Song Contest.

He is also passionate about poetry and thrilled to see the interest generated by his Vice-Chancellor's International Poetry Prize which is in its second year. So far, 1206 poems have been submitted by 724 poets from countries as diverse as Romania to Senegal. Its prize pool is not insignificant – a first place prize of $15,000 and $5,000 for runner up.

Both prizes are announced in September when Professor Parker is expected to be in a particularly buoyant mood.

"Successful people in the future will need to be articulate, numerate and creative, whilst remaining physically active and socially engaged and this campus will offer courses, research and public programs designed to nurture all these faculties."

"When John Gorton as Prime Minister inaugurated the campus in 1968 he said that if we are to reach for the stars we should do so with trained minds and skilled hands. I'm saying the same thing in a new way fitted to the times."