UNBC Planning for $2 Million Shortfall
By 250 News
UNBC’s budget forecasts have determined the University will face a $2 million dollar shortfall in 2007 -8 so the University is trying to come up with a new longer term budget plan that will take some of the financial pressure off individual programs, and keep staffing cuts to an absolute minimum. UNBC is looking at a new three year budgeting process it hopes will align spending with long term revenues.
The budget process is starting now in hopes of having the 2007-08 budget ready for approval at the end of March.
"The new multi-year approach will involve the whole university community" says President Don Cozzetto who says the new focus is on sustainability "We’re taking a comprehensive approach to our budgeting and involving the Board and the provincial government. We’re identifying new and expanded sources of revenues and aiming to make strategic cuts that will keep employee reductions to a minimum."
The University says its budget challenges are not new and are the result of a combination of factors, including its smaller size, northern location and flat student enrollment growth over the past five years.
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As I have said from the Get Go. If they cannot come up with an increase in students then this University is in trouble. The long term forecasts for students graduating grade 12 in the Northern Interior, between now and 2015 are not good and in fact will be in a decline. In addition there is competition from Kamloops, Kelowna, and the Lower Mainland for these students. In addition the long term forcast for population increases in the North Central Interior for the foseeable future are in the 1 to 1.5% area.
Had an indepth analysis of the availability of students over the long term been done before this University was built, it would have never gone ahead. It was built primarily for political reasons, and not as a sound long term investment, and the chickens are now coming home to roost.
I beleive that the Universitys budget is somewhere in the area of $56,000,000.00 per year the majority of which is spent on Faculty and Staff, so I expect that in a short period of time staff reductions will be the order of the day.