$6-million budget shortfall projected at UNB

March 24, 2009

In a memo issued to University of New Brunswick faculty and staff, president John McLaughlin states that with the latest provincial budget and the recession expected to persist, the 2009-10 budget is assumed to have a shortfall of at least $6 million. Should conditions continue into the medium-term, UNB anticipates a $14-million shortfall in 2011-12, resulting in a 3-year total shortfall of over $30 million. At the end of 2008, the university's endowment and long-term trust accounts investment pool dropped nearly 17%  in value. Units and departments are encouraged to explore all possible cost savings. UNB News Release