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| From the President |  |
Budget brings good news, but there are challenges ahead
The
provincial budget was brought down on March 21 and I think it’s fair
to say that the budget speech contained good news for Memorial. In addition
to increasing the overall grant to Memorial, the government continued
its commitment to students and to the research efforts at the university.
This is encouraging, given the fiscal conditions within which the government
must plan its expenditures. I am confident in saying that the provincial
government recognizes the enormous benefit of having a well-functioning
and well-supported university in our province.
The increase in the provincial grant amounts to approximately $13 million
dollars. I was delighted to learn that, in addition, the federal government
will give us almost $3.3 million for the indirect cost of research. Together
with our base funding, these monies will help us achieve our basic objectives:
to provide our students with a first-rate education by international standards
and to be a major contributor to research, scholarship, creative and professional
activities. However, despite these increases, we will still face a shortfall
of approximately $1.1 million in the 2002-3 fiscal year. I am confident
that we can overcome the shortfall without adversely affecting the quality
and diversity of our programs.
The budget also saw the government provide an additional $1 million to
help with repairs to buildings, labs, walkways and other facilities. Although
this amount is only a small fraction of our $28 million deferred maintenance
problem, it is a step in the right direction and will enable us to tackle
the most urgent problems. The budget also contained an allocation of $500,000
that will assist Memorial University and the College of the North Atlantic
in accessing funding from the Canadian Foundation for Innovation.
Our students also received good news. Building on last year’s tuition
reduction, the government earmarked a further $3.5 million for Memorial
students. The minister of Youth Services and Post-Secondary Education
intends to create a roundtable to advise her on the best way of using
the funds for the benefit of students. In addition, the government recently
announced changes in student aid programs, a move that was warmly greeted
by students.
We now have clarity about our 2002-3 budget and this will enable us to
concentrate on what we do best – teach, engage in scholarly activities
and serve our communities.
Axel Meisen
PRESIDENT AND VICE-CHANCELLOR