Nipissing Canadore

Nipissing University‘s Board of Governors has approved their 2016-17 operating budget, projecting a $4.7-million deficit.

The university has increased student services investments by nine per cent while reducing overall projected expenditures by three per cent.

The overall administration budget has been reduced by 18 per cent, primarily a result of recent restructuring and projected debt restructuring.

Student financial aid is up by four percent.

Meantime, tuition is increasing up to 3 per cent for some programs, while others will not be going up.

In terms of the shortfall, the University says the projected deficit is $571,882 less than the deficit projected in the 2015-16 budget.

The actual deficit from 2015-16 is expected to be less than $2,500,000.

Nipissing’s Executive Team and Budget Advisory Group will work to reduce the deficit throughout the year, as they managed to do over the past three years.

“We’ve been able to make some key investments in terms of Student Services related to student retention and Financial Aid, that will help us better serve our current students and attract new students while ensuring academic excellence,” said Dr. Harley d’Entremont, provost and vice-president academic and research.
“Over the past few years, we’ve been forced to make some tough decisions to improve the university’s financial situation without sacrificing the quality of what we offer. We’ll continue to be fiscally responsible and strive for efficiencies to further reduce the deficit. Moreover, we look forward to the new funding framework from the Ministry of Training, Colleges and Universities (MTCU) expected to be made public in the Fall. After some difficult years, Nipissing has good reasons to be optimistic.”