York U may face deficit in 2009-10

August 30, 2007

The York University student newspaper, the Excalibur, reports that York's 3-year budget shows a $3.3 million cumulative deficit in the 2009-2010 fiscal year, even with a 2% annual cut to the operating budget over the next 2 years.  Many Ontario universities are facing similar financial struggles: uGuelph forecasted a $15 million structural deficit, until provincial investment balanced the books.  York has stated that it is too early to determine where any belt tightening might be felt in the budget