THEIR MONEY

The impact of the province's budget on March 7th is a 7.2% decrease in the Campus Alberta Operating Grant for the University of Alberta. This grant is not tied to student enrolment and is an absolute figure that will result in a cut to base operating funding of about $43 million.

Prior to the budget announcement, the University was lobbying for a 4% increase to the grant in order to keep up with increasing cost pressures resulting from a structural deficit (i.e. base operating expenditures are increasing faster than base operating revenues at a rate of 2% per year).

As this cut will only affect operating funding, budgetary actions by the University will only take place within the realm of the operating budget; in other words, this has no impact on research or capital funding or spending but will instead affect academic-related instructional and administrative functions. The University may be allowed to run a modest deficit in 2013-2014 if the institution submits a plan that achieves a balanced consolidated budget within two years.

Town Hall

Check out a video recording of the town hall that took place on SUBstage on Tuesday, March 26.