Year: 2025
Type: other
Abstract: Last year, in a number of communications with the College community, the Vice-Presidents and I identified a serious shortfall in our on-going budget.In recent years our expenditures have increased more rapidly than our revenues.In the two to three years prior to last year we became increasingly reliant upon temporary funds (mostly from start-up funds for upper-level programs), and upon on-going money designated for upper-level programs.While we continue to divert some of the on-going upperlevel funding to support other areas, we cannot continue to do so with the temporary funding, which will disappear in another year or so.Following a detailed analysis of this situation a year ago we determined that expenditures had to be reduced by at least $2.0 million in order to achieve a relatively stable budget condition.We then initiated a process of consultation on budget reductions, ending with extensive reductions in all areas of the College.The plan was to make reductions over a twoyear period, continuing to make up part of the overall deficit with some temporary start-up funding for one more year (92-93).The reductions in the first year came to $1,657,320, leaving a further $433,799 for this year.
DOI: 10.25316/envv-pc75
Author: Unknown
Language: English
Field: Social Sciences
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W6926330980
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