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President optimistic about SFU’s future despite cash crunch

March 5, 2009

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President Michael Stevenson painted a grim picture of the financial challenges facing the university during the president’s annual Open Forum Feb 25. at the Burnaby campus. He cited a litany of concerns, ranging from hits to university endowments and pension funds due to the global economic meltdown to hardships brought on by this year’s surprise 2.6-per-cent Victoria funding cut, and an outdated funding formula that ignores non-student inflationary costs. But Stevenson said the fiscal crisis also presents opportunities to streamline university operations and address long-standing problems such as course accessibility. And he said being one of Canada’s leading research universities, is "a cause for some measured optimism."

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