> SFU Board of Governors approves lean budget
SFU Board of Governors approves lean budget
Contact:
Michael Stevenson, President, 778.782.5010 or 4641; stevensn@sfu.ca (note: no o in email address)
Warren Gill, Vice-President, University Relations, 778.782.5005; gill@sfu.ca
Michael Stevenson, President, 778.782.5010 or 4641; stevensn@sfu.ca (note: no o in email address)
Warren Gill, Vice-President, University Relations, 778.782.5005; gill@sfu.ca
April 23, 2008
The 2008/09 operating budget approved today by Simon Fraser
University’s Board of Governors reflects the significant impact of
recent funding reductions by the Ministry of Advanced Education.
Faced in mid-March with an unanticipated 2.63 per cent cut to prior provincial commitments, SFU was forced to trim a further $6.4 million from a proposed operating budget already pared by $9.3 million.
Among the measures required to make up the $16 million budget shortfall are a 1.9 per cent across-the-board reduction; a freeze on staff hiring along with a reduction of almost 50 new faculty hires; a reduction of the student scholarship and bursary budget; the elimination of the use of credit cards for tuition fees; and the elimination of tuition waivers for seniors.
“I regret that SFU has had to take such dramatic action,” says President Michael Stevenson. “These are difficult times for post-secondary institutions in British Columbia, and without a review of formula funding and a return of stable financial commitments we cannot expect the situation to improve.
“I am particularly distressed that we have had to make reductions to the scholarship and bursary budget and eliminate the free tuition program for seniors. In both cases I have directed that we ensure that appropriate financial assistance is available to the most vulnerable.”
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Faced in mid-March with an unanticipated 2.63 per cent cut to prior provincial commitments, SFU was forced to trim a further $6.4 million from a proposed operating budget already pared by $9.3 million.
Among the measures required to make up the $16 million budget shortfall are a 1.9 per cent across-the-board reduction; a freeze on staff hiring along with a reduction of almost 50 new faculty hires; a reduction of the student scholarship and bursary budget; the elimination of the use of credit cards for tuition fees; and the elimination of tuition waivers for seniors.
“I regret that SFU has had to take such dramatic action,” says President Michael Stevenson. “These are difficult times for post-secondary institutions in British Columbia, and without a review of formula funding and a return of stable financial commitments we cannot expect the situation to improve.
“I am particularly distressed that we have had to make reductions to the scholarship and bursary budget and eliminate the free tuition program for seniors. In both cases I have directed that we ensure that appropriate financial assistance is available to the most vulnerable.”
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