MUN passes deficit budget with 30% increase to grad tuition and residence fees

July 10, 2015

Memorial University’s board of regents has approved the operating budget for 2015–16, which responds to cuts in provincial funding. The final budget increases both graduate tuition and residence fees by 30%, according to CBC; these increases will not take effect until 2016. The university scrapped a proposal to increase international student fees, instead electing to make a one-time reduction of $1.3 M plus an ongoing reduction of $3.6 M for all units, excluding direct academic expenditures and unavoidable operating costs. MUN will also request a one-year deferral of some of its pension obligations. Nevertheless, the budget still includes a deficit of $800,000, due to “limited … revenue-generation options.” “Extensive consultation and incredible co-operation across the institution resulted in a budget proposal that balances our complex fiscal reality with our mandate to deliver excellent academic programs,” said MUN President Gary Kachanoski. CBC | MUN