$84-million deficit projected at uAlberta

March 30, 2009

The University of Alberta is expected to post an $84-million budget shortfall, mostly due to the economic downturn's impact on the school's investments. uAlberta's endowments have declined about $112 million in value. While no major cuts will result from the deficit, the university is expected to slow hiring and hold back on some optional spending during the next fiscal year. With the Alberta government planning to move to 3% annual increases for base operating grants in 2010-11, uAlberta may have to look at expense reductions in order to cover rising salaries for academic staff and utility bills. uAlberta ExpressNews | Edmonton Journal