Both the Memorial University Faculty Association and the Students Union are calling for government assistance to help the university with a financial shortfall caused by a drop in international enrolment – but that doesn’t look likely.
The university called a surprise news conference on Friday to outline measures taken to address a projected $9.5 million shortfall from a 5.4 per cent drop in international student enrolment.
The university is putting a pause on most hiring with certain exceptions, introducing restrictions to carry over funds, and developing a new budget model.
That’s led to calls for the government to step in to help the university with its fiscal situation and to address concerns like millions of dollars in deferred maintenance.
In a statement provided to VOCM News, Education Minister Krista Lynn Howell says Memorial University is an autonomous organization accountable for its own fiscal policies and practices. The province says it’s confident that MUN is making decisions and implementing measures that will have the desired outcome while minimizing the impact on students and staff.
The provincial government provided an allocation of $400 million to the university in the last budget. More than 70 per cent of the university’s operating revenue comes directly from the province – among the highest in the country.