Budget dominates Board meeting
Deficit has multiple sources
The final financial results for the 2004-05 fiscal year and the proposed deficit budget for 2005-06 dominated the discussion at the Jan. 19 Board of Governors meeting.
Vice-President Finance Larry English presented an overview of the financial situation and identified several key factors that contributed to the larger than expected deficit for 2004-05 and that led to the development of a deficit budget for the current year.
Among them were the salary increases linked to proposed and signed collective agreements with employees, interest payments on bonds and costs related to the building expansion and reduced building funding from the government.
The discussion clarified the need for vigilant management and planning around the budget process and particularly concerning the budget impact of collective agreements.
President Lajeunesse said the 2006-07 budget will be presented to the Board in May so it can be approved before the beginning of the new fiscal year. Moreover, the budget will be multi-year in nature.
He also said that despite the budget situation, hiring of close to 50 new tenure-track professors would go ahead. He explained that the quality of teaching and research remains paramount despite the difficult budget situation.
Provost Martin Singer, in response to a question about funding of the library, explained that he is trying to secure funding of at least $1 million a year for library acquisitions. Funding for the library was second only to faculty hiring in terms of his priorities.
The Provost also announced the highest-ever FTE (full-time equivalent student) count at the university: 23,967, up 3 per cent over last year. The growth was predominantly among undergraduate students.
Work remains to be done to realize the goal outlined in the Provost’s academic plan, Moving Ahead, of attaining a 20-per-cent graduate student population at the university. The current enrolment situation further reinforces the importance of the new Vice-President Research and Graduate Studies position.
Confirmed members of the Advisory Search Committee for the Vice-President, Research and Graduate Studies were announced: Claude Lajeunesse, President and Vice-Chancellor (chair); Brian Edwards, Board (community at large); June Chaikelson, Board (faculty); Michael Carney, full-time faculty (John Molson School of Business); Michael Longford, full-time faculty (Fine Arts); Marlene Bonneau, part-time faculty; Nabil Esmail, Dean Engineering and Computer Science; Martin Singer, Provost and Vice-President, Academic Affairs; Joanne Beaudoin, administrative and support staff.
Confirmed members of the Advisory Search Committee for the Dean of the John Molson School of Business are: Martin Singer, Provost and Vice-President, Academic Affairs (chair); Jonathan Wener, Board (community at large); Sally Cole, Board (faculty); Jean Freed, part-time faculty, elected by the part-time faculty in the JMSB; Catherine Wild, Dean of Fine Arts; Julie St-Germain, undergraduate student.
The agenda item related to the evaluation committee for the Dean of Engineering and Computer Science was deferred until the next Board meeting in February.