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2002 - 2005 Operating Fund Budget Action Plan Principles

Preparation of all Action Plan Proposals to address the projected budget shortfall will observe the following principles:

General Considerations:

  1. The Action Plan will extend over three years with particular initial emphasis on 2002 – 2003.
  2. The overall objective is to produce a balanced budget that also ensures, to the extent possible, the long-term health and future growth of the institution and continued delivery of our Ministry-funded program profile.
  3. The budget process will be open and transparent, subject only to restrictions imposed by considerations of personal privacy and contractual obligations.

Finding More Revenues:

  1. In the event of projected budget deficits, the first approach to addressing the problem is to increase revenues—for example, from the following areas:
    • Tuition and Service Fee
    • International Education
    • Domestic Contract Training through Learning Connections, Faculties and Regional Campuses.
    • Ancillary Operations

Apportioning Expenditure Reductions:

  1. The intent of the budget reductions is to be strategic as much as possible, while respecting the need to protect the comprehensive nature of the institution and its mission.  The overall magnitude of expenditure reductions will be apportioned equitably at a broad level, but reductions at the department and program level will be strategic as much as possible, in order to avoid the across-the-board cuts that could impoverish all:

    Apportioning Expenditure Reductions Chart

  2. Consideration will be given to the reallocation of budget in order to proceed with
    programmatic and service changes without which the institution will, in the longer run, no longer keep pace with its competitors nor meet the needs of its students.
  3. Strategic expenditure reductions in the area of Direct Education will be guided by the Criteria for Ranking Programs, as approved by Education Council, current KPI data, and other data related to costs, facilities, educational outcomes, and provincial directions.

Mitigating the Effects of Expenditure Reductions:

  1. Expenditure reductions will be considered in areas associated with projected natural attrition (non-replacement of retiring employees).
  2. A Voluntary Job Reduction Program will be considered as a way to provide more opportunities than those offered by contractually obligated early retirement incentives.
  3. Job protection will be pursued wherever reasonably feasible.
  4. The first use of any Non-Recurring Funds will be to facilitate multi-year reductions in the base budget.