Nipissing University News Release ************************** The Nipissing University Board of Governors approved an operating budget of $58,426,250 for the fiscal year 2008-09 during their regular meeting on Thursday, May 1, 2008.
The Nipissing University Board of Governors approved an operating budget of $58,426,250 for the fiscal year 2008-09 during their regular meeting on Thursday, May 1, 2008.
The 2008-09 budget represents an increase of $3,914,218, or seven per cent over the 2007-2008 budget. It includes a structural operating deficit of $2,686,925. However, the university expects to receive some one-time-only revenues from the Ministry of Training Colleges and Universities (MTCU) and the university has made a commitment to reduce expenditures, for an April 30, 2009 year-end net budgeted deficit of $736,925.
The budget growth was the result of a number of factors such as enrolment increases, teaching load reductions and government policy changes, as well as the creation of essential new positions and equipment purchases. Nipissing University has experienced a steady increase in enrolment and, to accommodate the growth, it has undertaken several expansion projects including a new library and research wing in North Bay, as well as new buildings at its regional campuses in Brantford and Bracebridge. The new research wing will provide much needed space for the growing research culture at Nipissing. The university has also implemented a reduced teaching workload, consistent with other institutions, to enable faculty more time to conduct research. The provincial government’s Reaching Higher plan has provided universities with funding to offset some costs and has allowed each university to increase tuition fees; however, these revenues are not sufficient to keep up with the cost of inflation, the delivery of our academic mandate, and the services to our students.
Nipissing has recommended the maximum tuition increase allowable in order to address escalating operating costs. The cost and consumption of energy/utilities, for example, is expected to rise by an average of 11 per cent this year. As well, wages, benefits and pension costs continue to increase at a faster pace than revenue from tuition and grants. The 2008-09 budget includes 27.96 new positions, as well as increased expenditures in financial assistance for students as a result of the Ontario government’s Student Access Guarantee.
“The budget increase and subsequent deficit were not a surprise to the university given the costs associated with the institution’s growth and the government funding issues that exist across the post-secondary system,” said Vicky Paine-Mantha, vice-president finance and administration. “The approved budget will allow the university to sustain the quality of education that it provides students and, at the same time, continue to grow its capacity.”
“The budget represents a realistic plan to move the university forward,” said Dennis Mock, university president. “It includes an expectation to reduce costs within the university and any new items that have been added to the budget were considered to be essential to advancing our strategic plan goals.”
