{"id":92600,"date":"2024-05-03T15:12:18","date_gmt":"2024-05-03T19:12:18","guid":{"rendered":"https:\/\/brocku.ca\/brock-news\/?p=92600"},"modified":"2024-05-03T15:12:49","modified_gmt":"2024-05-03T19:12:49","slug":"an-update-on-brocks-budget-from-the-university-provost","status":"publish","type":"post","link":"https:\/\/brocku.ca\/brock-news\/2024\/05\/an-update-on-brocks-budget-from-the-university-provost\/","title":{"rendered":"An update on Brock’s budget from the University Provost"},"content":{"rendered":"

Dear Brock community,\u00a0<\/span>\u00a0<\/span><\/p>\n

On Thursday, May 2, the Board of Trustees approved Brock\u2019s budget for 2024-25.<\/span>\u00a0<\/span><\/p>\n

The budget is the result of extensive consultation with campus stakeholders and aligns the University\u2019s resources with areas that most benefit our students, faculty, staff and community, such as innovative academic programming and critical support services.\u00a0\u00a0<\/span>\u00a0<\/span><\/p>\n

This year\u2019s budget includes an operating deficit of $10.1 million, reduced from a projected $37 million thanks to the hard work and creativity of faculty and staff across campus. <\/span>\u00a0<\/span><\/p>\n

But that doesn\u2019t mean our work is done. Like many institutions in Ontario, Brock continues to face significant financial challenges, as outlined in <\/span>my letter to the community on Jan. 11<\/span><\/a> and at the State of the University town hall.\u00a0<\/span>\u00a0<\/span><\/p>\n

And while we welcomed the Province\u2019s February announcement of funding for Ontario\u2019s post-secondary education sector, our current fiscal deficit continues to exceed this limited support.\u00a0<\/span>\u00a0<\/span><\/p>\n

A deficit this size is not sustainable, and it\u2019s not practical to go through such an intensive budget mitigation exercise every year. Instead, we will need to continue to think about our priorities, our strengths, our structures and what we can do sustainably with the resources we have.<\/span>\u00a0<\/span><\/p>\n

Creative solutions and an openness to change in a timely manner will be crucial as we work to ensure financial sustainability.\u00a0<\/span>\u00a0<\/span><\/p>\n

I want to thank the community for their enthusiasm in responding to our <\/span>call for creative ideas for revenue generation<\/span><\/a>. We have received dozens of suggestions, which have been shared with relevant campus leaders for their consideration. They have also been the subject of discussion at meetings of senior leaders on campus.<\/span>\u00a0<\/span><\/p>\n

We remain strongly committed to providing the outstanding student experience and innovative research that Brock is known for. Brock is essential to Niagara\u2019s and Ontario\u2019s continued growth, cultural vitality and economic success, and we will continue to work with the provincial government on solutions that address the long-term challenges posed by the current funding policy. <\/span>\u00a0<\/span><\/p>\n

Sincerely,\u00a0<\/span>\u00a0<\/span><\/p>\n

Tim Kenyon<\/span>
\nInterim Provost and Vice-President, Academic<\/span>\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

On Thursday, May 2, the Board of Trustees approved Brock\u2019s budget for 2024-25.\u00a0<\/p>\n","protected":false},"author":1,"featured_media":77985,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[7,3319,1],"tags":[],"_links":{"self":[{"href":"https:\/\/brocku.ca\/brock-news\/wp-json\/wp\/v2\/posts\/92600"}],"collection":[{"href":"https:\/\/brocku.ca\/brock-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/brocku.ca\/brock-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/brocku.ca\/brock-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/brocku.ca\/brock-news\/wp-json\/wp\/v2\/comments?post=92600"}],"version-history":[{"count":2,"href":"https:\/\/brocku.ca\/brock-news\/wp-json\/wp\/v2\/posts\/92600\/revisions"}],"predecessor-version":[{"id":92605,"href":"https:\/\/brocku.ca\/brock-news\/wp-json\/wp\/v2\/posts\/92600\/revisions\/92605"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/brocku.ca\/brock-news\/wp-json\/wp\/v2\/media\/77985"}],"wp:attachment":[{"href":"https:\/\/brocku.ca\/brock-news\/wp-json\/wp\/v2\/media?parent=92600"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/brocku.ca\/brock-news\/wp-json\/wp\/v2\/categories?post=92600"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/brocku.ca\/brock-news\/wp-json\/wp\/v2\/tags?post=92600"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}