News Release

REF NO.: 145

SUBJECT: Memorial University president reacts to 2015-16 provincial budget

DATE: May 1, 2015

Statement from Dr. Gary Kachanoski, president and vice-chancellor, Memorial University:

The 2015-16 provincial budget announced a reduction in the university’s operating grant. Like other publicly funded entities, Memorial University is acutely aware of, and appreciates, the budgetary pressures currently faced by the province. For the past number of years, the university has identified and implemented internal efficiencies and reallocated resources; planned and allocated for priority investments; and managed inflationary costs within a flat operating grant (outside of growth to meet the obligation of salary increases based on the provincial bargaining template). Every day we strive to balance sound fiscal stewardship with meeting our obligation as the province’s only university to provide Newfoundlanders and Labradorians with high quality, affordable education.

In planning for this budget, the government discussed with the university administration all possible sources of revenue generation and cost containment to address the institution’s needs beyond the funding ability of government. Notably, they have provided funding to support a continued tuition freeze for Canadian undergraduate students, while allowing flexibility for the university to consider graduate and international student fees, among other options.

In the coming weeks the administration will complete a detailed budget analysis and prepare cost-cutting and revenue-generating options for consideration and approval by the Board of Regents. Our goal will be to live within our means, cause the least amount of disruption to the Memorial community, while continuing to fulfill our mandate as the province’s only university.

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