The double cohort, slumping stock markets, basic grant levels that do not always take inflation into account; these are only some of the major challenges the University of Ottawa had to deal with as it finalized its budget for 2003-2004. This includes revenue and expenditures that exceed $500 million, a jump of 60 per cent over the last five years.
“Balancing the 2003-2004 budget and subsequent years will be a challenge for the University of Ottawa,” says Carole Workman, the University’s Vice-Rector, Resources. “But a focus on priorities will prevent financial constraints from stifling a university whose reputation and achievements are increasingly recognized and acknowledged.”
Focus on priorities. That is the catch phrase as the University increases its efforts on a range of objectives that include designing and offering innovative top-quality programs, distinguishing itself further in the research field, and being tuned in to the needs of its members.
To achieve these objectives, the University plans to inject $21 million into the budgets of faculties to hire more than 150 professors over the next three years. The University of Ottawa also plans to allocate $1.3 million more for library acquisitions and to continue to increase the value of its academic grants and scholarships, and its financial assistance fund, which together are currently worth more than $25 million.
In addition, the University’s facilities have expanded with the addition of a new biosciences complex. The research wing of this new facility will open in fall 2003, followed by the teaching wing in September 2004.
So that it can allocate the most resources possible to its core mission, the University aims to keep its administrative operations as efficient as possible, while investing in key sectors.
Despite these major challenges, the University is getting needed support from the loyalty and dedication shown by the campus community. “A renewed pride in the University of Ottawa is palpable,” adds Ms. Workman. “Efforts to rally students, staff, professors and alumni are showing early results.”
