Fanshawe faculty union decries reserve fund transfer

March 23, 2009

Fanshawe College's faculty union is criticizing administration for transferring money into a reserve fund for buildings and facilities when the college is in the midst of a budget crunch. The head of the union says audited statements show Fanshawe transferred $6 million from its operating budget to the reserve fund. A college official says the union is misreading the numbers. The school transferred $600,000, the official says, and the fund has a total of $6 million in it. The union leader says any transfer is not a responsible move during the economic downturn. London Free Press