Board approves good news budget
Trent University's Board of Governors approved a $42-million operating
budget for 2000-2001 which shows great improvement in Trent's financial
position primarily due to both domestic and international enrolment
increases and improvements made in Trent's financial management and
investment strategies.
There was also improvement in the 1999-2000 budget performance
which is projected to be better than planned by about $1 million, according
to A. Sally Young, Vice-President Administration.
Young said the university's projected budget for 2000-2001
continues this improvement. The annual operating deficit is projected to be
just over $300,000 before the additional funding of strategic investments,
for an overall deficit of just over $1 million.
The 1999-2000 budget provided for a number of strategic investments
that were intended to strengthen Trent University's future. President
Bonnie Patterson noted that such investments made it possible to undertake
a variety of successful recruitment and marketing activities, to invest in
physical space planning for expansion, information technology needs, a
student internship program and a comprehensive alumni survey to help
support Trent's graduate employment ratings.
The 2000-2001 budget provides for a further $700,000 allocation in
strategic investment, primarily to assist with recruitment and marketing.
In accordance with the government's allowable tuition increase,
Trent will have a two per cent basic tuition fee increase for 2000-2001,
but no increase in graduate student fees. For undergraduates, this
represents an increase of $77. One-third of this amount will be designated
to increased student aid and the balance is available to improve the
quality of existing programs, sustain program course offerings and new
academic program initiatives. The increase will enable Trent to provide
some support for the new Ph.D. program in Canadian Studies, expected to be
approved in June 2000.
Patterson summarized the 2000-20001 budget as "on track and ahead
of the deficit-reduction plan."
To see the budget, go to Financial Services.
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