Costs of construction, operating budget separate

April 01, 2004, vol. 29, no. 7



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Why is there so much construction on campus when the university faces an operating budget deficit?

The answer, says Pat Hibbitts, is that construction costs are not part of the operating budget.

Construction of the new applied science and technology building, for example, will be paid for out of the provincial government's double-the-opportunity fund.

Self-supporting capital projects which pay for themselves from user fees, such as the three new residence buildings under construction on the Burnaby campus and the new gym expansion, are being financed from the proceeds of the university's bond issue last year, which reaped $150 million.

Other sources of funding for capital projects include granting organizations, such as the Canada Foundation for Innovaton investment in a planned centre for research in electronic materials and fundraising initiatives by SFU advancement.

This will pay for refurbishing of the downtown heritage building that will house the new Segal graduate school of business.

SFU's new Surrey campus move to the Central City building will be paid for with a special $70 million grant from the B.C government.

Neither the bond fund nor capital funds from the provincial government or from research funding organizations can be used for university operating expenses.

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