Record-high enrolment outlook shapes Algoma U budget

NEWS RELEASE

ALGOMA UNIVERSITY

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Algoma University board of governors approves budget

SAULT STE. MARIE, ON (May 1, 2012) - The Algoma University board of governors has unanimously passed the proposed operating budget for the 2012-2013 fiscal year.

The total budget for the University was $26.4 million, and the budget put forward by university president Dr. Richard Myers proposed a modest surplus of approximately $25,000, or 0.1 percent.
 
The budget was based on a projected 9.9 percent increase in student enrolment, which will be driven mainly by a substantial increase in international students, as well as the addition of new extension operations outside of Sault Ste. Marie.

The approved budget includes a 4 percent increase in tuition, which will rise to $5,458 for a full-time student.
 
"We're never happy to have to raise tuition, but that's just a fact of life in the current fiscal framework for Ontario universities," said Myers.

He points out that every other university in Ontario that has passed a budget for next year has increased tuition for new students by 4.5 percent, a half-percentage point more than the increase at Algoma.

Tuition at Algoma remains among the lowest in the province.
 
The university looked at other areas in order to develop a balanced budget in the face of increasing demands.

One of these was parking, which, with the increased investment to support the growth on campus in the past five years, has been losing money.

Parking will increase to $80 per semester in order to offset these costs.
 
Some of the key demands that this budget supports are the addition of four new tenure-track faculty positions, an extra short-term faculty position and three staff positions. 

There will also be additional funds for varsity athletics and additional allocations to deal with pension shortfalls.
 
Tim Lavoie, chair of the board of governors, was happy with the budget put forward.

"The board was very pleased to receive a budget proposal that was both growth-oriented and fiscally prudent," he said.
 
About Algoma University 

Algoma University offers a wide variety of liberal arts and sciences degree options including programs in psychology, computer science, business administration, fine arts, community economic & social development, and biology in Sault Ste. Marie, Brampton, Timmins and St. Thomas.

As a partner with Shingwauk Kinoomaage Gamig, Algoma U is committed to respecting Anishinaabe knowledge and culture.

Algoma University has launched its Essential Elements Campaign to expand its campus and offer more scholarships and awards to students.

To learn more, visit here.

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