Board passes budget

Jul 11, 2002, vol. 24, no. 6
By Diane Luckow



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Funding for new initiatives to enhance student-centered programs and services across campus, as well as to increase student financial assistance, are highlights of the 2002-2003 operating budget.

With tuition fee increases offsetting an anticipated $8.8 million shortfall in revenues, the new operating budget will increase the student financial aid budget by 47.5 per cent to $7,622,000. A portion of this will pay for the continuance of graduate student assistantships and for the work-study program, which are both no longer funded by the provincial government.

“We're committed to quality improvements for students, as well as to increasing scholarships and bursaries,” says Patricia Hibitts, VP-finance and administration.

A new $3,229,000 quality enhancement and strategic initiatives fund will provide an additional $800,000 to increase library acquisitions and improve library services and will direct $250,000 toward improvements in student services. Co-operative education will also benefit from an additional $200,000.

General budget funding will provide for previously negotiated agreements with the Administrative and Professional Staff Association and the SFU Faculty Association. Additional funds have also been set aside for faculty retention and renewal.

This year's budget also features the largest annual increase in insurance - $100,000 - a reflection of higher rates due to the terrorism attack in the U.S. on Sept. 11.

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