Queen’s University Principal Patrick Deane released a statement addressing concerns about the institution’s financial situation, assuring staff and students that there is no immediate risk of the university closing. The statement comes after weeks of discussions about the university’s budget, which aims to address a $48-million deficit.
Fears were heightened during a town hall meeting in December when Provost Matthew Evans expressed concerns about the university’s survival. Deane’s statement sought to clarify the situation and address concerns raised during these discussions.
Deane attributed the financial challenges to factors such as chronic underfunding from the government and enrollment caps. The provincial government’s 10 percent tuition cut and freeze were mentioned as contributing to the financial strain, costing Queen’s $179.4 million.
To address the deficit, the university has implemented a hiring freeze, reduced faculty and shared services budgets, and made efforts to cut costs. Deane acknowledged that relying on financial reserves to cover the shortfall is unsustainable, emphasizing the need for significant efforts from faculties and departments across the university.
While Deane’s statement provided reassurance, concerns about job losses for part-time and contract faculty members persist among staff and students. The Queen’s Coalition Against Austerity (QCAA) continues to advocate for alternative solutions, including using investment income and other financial resources to address the deficit.
QCAA stressed that other universities in Ontario could face similar financial challenges, lacking the same financial cushion as Queen’s. The group called for open discussions and community involvement in addressing budgetary issues.
Despite the financial difficulties, Queen’s University remains committed to its academic goals and long-term sustainability.