Financial challenges at uCalgary

March 4, 2009

In a memo sent to University of Calgary staff this week, president Harvey Weingarten outlines a number of factors contributing to budget challenges, including the endowment fund shrinking by $78 million, uncertainty surrounding provincial operating grants, and increasing utility costs. Expecting to end the current fiscal year in a deficit position, uCalgary hopes to raise more revenue through additional enrolment. While the school won't impose a hiring freeze, new hiring will occur only in the "most compelling of cases." Calgary Herald