SFU faces $9-million budget shortfall

October 23, 2009

After a $6.4-million recurring grant from the BC government trimmed what would otherwise have been an almost $16-million budget deficit for the 2010-11 fiscal year, Simon Fraser University is still anticipating a $9-million shortfall next year. With no new funding, downturn-induced investment revenue losses, a 5% non-salary inflation rate, and a continuing 2% mandatory tuition cap, the shortfall is projected to rise to $20 million in 2011-12, and $32 million in 2012-13. In order to balance next year's budget, SFU adminisitration is considering increased cuts to expenses across all vice-presidential portfolios, while larger cuts will mostly be to non-teaching and non-research services in both academic and non-academic units. SFU News