President Jack Lightstone takes questions from the floor during a May 19 Town Hall meeting, which keeps the Brock community updated on the budget process.

Unexpected good news from the Ontario government, an enrolment jump and efficiency efforts by Brock’s faculties and departments all helped slash $4 million from the university’s projected operating deficit for the coming fiscal year.

The cumulative effect of those and other factors mean the university is expected to end fiscal 2010-11 with an in-year operating deficit of $7.7 million, as opposed to $11.7 million that had been earlier forecast.

That was a key message heard by 200 faculty and staff at a Town Hall meeting in the David S. Howes Theatre on May 19, where Brock President Jack Lightstone gave an update on the University’s 2010-11 budget.

Lightstone told the audience that the biggest change in the 2010-11 outlook resulted from the March 25 provincial budget, which included $1.1 million of additional Basic Income Unit funding for Brock’s enrolment increases, plus nearly $1.1 million in an unexpected quality funding grant.

Besides using some of the improved revenues to shrink the deficit, he said, officials are investing nearly $1.4 million into the University’s base budget, including $500,000 for undergraduate entrance scholarships, $326,000 for graduate fellowships and $150,000 for library acquisitions.

This spring’s exercise to draft the 2010-11 budget is the second year in what is expected to be a four-year plan to eliminate the gap between revenues and expenses in the annual operating budget, and pay down accumulated operating debt.

In an effort to improve finances through growth rather than cuts, University officials have asked faculty and staff to find ways to grow revenues and/or reduce expenditures in each year of the program, largely through innovative pedagogies and other strategies that can support moderate enrolment growth and still enhance the student experience.

Last year’s target for efficiencies was 5 per cent of the base operating budget, and 5.7 per cent was achieved. An improved revenue outlook saw this year’s efficiency target lowered to 2 per cent, and that was again surpassed by about $350,000.

See the President’s full report on the Town Hall meeting at Town Hall meeting — May 19.