CBU Board of Governors Approve 2011-12 Operating Budget

The Cape Breton University Board of Governors was tasked today with making significant decisions as they addressed and approved the 2011-12 Operating Budget of almost $41 million.

President and Vice-Chancellor John Harker noted that, “The budget document presented to the Board is the product of an unprecedented level of institutional and academic planning within CBU that is mindful of enrolment objectives, the need to maintain quality services for students, and the financial uncertainties presently facing the post-secondary sector in Nova Scotia.”

The budget proposal, approved by the Board, incorporates the recently announced 4 per cent reduction in the university operating grants and a 3 per cent increase in tuition rates, being consistent with the general parameters set by the province for maximum tuition increases. The document is based upon outcomes of the ongoing planning process at CBU and provides for certain important hires designed to ensure continued quality teaching and services to CBU students. The document also strives to maintain financial flexibility where possible to facilitate CBU’s ability to respond to the multi-year financial framework for the sector expected to emerge from ongoing MOU discussions with the Province of Nova Scotia.

Gordon MacInnis, Vice-President, Finance and Operations added that “Dealing with the 4 per cent cutback in the operating grant has been a challenge for the institution and difficult decisions were necessary. The multi-year planning model adopted by CBU in 2008, the success of our early retirement incentive program, and the rapid growth in international student enrolment were important tools that enabled CBU to respond to 2011-12 in a fiscally responsible manner. This, while concurrently pursuing important reinvestment strategies that will benefit CBU students in the coming years. The Budget is also designed in a manner that is mindful of the fiscal restraint climate of the public sector, the uncertainties of the MOU process with the Province, and the need to maintain quality programs and services while striving to preserve as much financial flexibility as possible for future years.”