Newspaper article The Canadian Press

University of Alberta Posts $14 Million Deficit, Blames Tutition and Funding

Newspaper article The Canadian Press

University of Alberta Posts $14 Million Deficit, Blames Tutition and Funding

Article excerpt

University of Alberta posts deficit

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EDMONTON - The University of Alberta says it is running a multimillion-dollar budget deficit for the 2017-2018 year, and is planning budget cuts in the coming years to make up for the shortfall.

In a blog post, the university cited a multi-year tuition freeze and changes to provincial funding that have added up over time in their nearly $14 million budget deficit.

Spokesman Steve Drew says they're not panicking but it's important the matter be treated seriously.

He notes the operating budget is more than $1 billion, so the deficit represents 1.4 per cent of that.

For post-secondary institutions across the province, the Campus Alberta grant is the main funding source.

The government is looking at changes to the grant, but says the university has received more funding in the past three years: from $579 million in 2015 to $624 million this year. …

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