uWaterloo approves deficit budget for 2014-15

April 10, 2014

The senate and board of governors at the University of Waterloo have approved a “temporary deficit” budget for the 2014-15 year. The deficit of $912,000 is considered temporary, as university officials expect actual enrolment numbers to surpass forecasted numbers; if this doesn’t occur, the university has a reserve fund of $1 million. Salary and wages at uWaterloo will increase by 4.8% for the 2014-15 year, and student support will increase by 6.3%. VP, Academic Geoff McBoyle noted that although the budget is very close to balanced, “Things are not normal. Things are changing. Revenues are being controlled and expenses are not, and we have to put greater efficiencies into the system. If we can’t get more money, we have to save money.” uWaterloo News