Memorial’s Board of Regents held its July meeting in
St. Anthony July 23-25.
While in St. Anthony, the university’s governing body
discussed a liaison between St. Anthony area economic development
groups and Memorial University, toured the Grenfell Historic
Properties and the L’Anse aux Meadows historical site
and met with local residents.
The board also approved the university’s 2003-2004 budget
during the meeting. The board has approved a balanced budget
of $186,859,000. The new budget clears a small deficit which
was carried over from 2002-2003.
Despite the fact that the university’s budget was tight,
new monies were allocated to several areas. Some of these
include more money for graduate studies expansion and recruiting
teaching assistantships, money to maintain the library’s
book and journal collection, and new funds for services to
international students and student career development programs.
The university has also continued its ongoing support of the
Oil and Gas Development Partnership and has allocated money
to develop the university’s marketing and communications
initiatives. Significantly, the budget will also put $5 million
towards deferred maintenance. This money will help improve
and upgrade the university’s aging infrastructure.
“Although it was challenging to arrive at a balanced
budget, I am pleased that we were able to do so,” Memorial
President Axel Meisen said. “I am particularly delighted
that we were able to secure additional resources for several
key objectives, including the maintenance of facilities, enhanced
especially graduate student support, and stronger marketing
of our university.”
Brian Colbourne, director of Financial and Administrative
Services, noted that creating this budget, his first university
budget, involved a shift in perspective. “My background
has given me experience with an ongoing budgetary process,
one that emphasizes continuous budgeting,” he said.
“Like other organizations, the university goes through
a major budget process once a year. I hope to introduce measures
that will enable our administrators to have more financial
information available so that they can better monitor and
adjust their budgets in light of changing circumstances.”
The board intends to hold at least one meeting a year in a
location away from Memorial’s provincial campuses.
For more coverage of the Board of Regents meeting, see Board