Queen’s University isn’t under any threat of financial ruin, despite rumours indicating otherwise, said principal and vice-chancellor Patrick Deane in an open letter on Friday.
“I assure you, none of this is true. While the current financial situation for Queen’s poses challenges, the same is true for most postsecondary institutions in Ontario.”
“The current economic situation combined with chronic underfunding by government and caps on enrolment have significantly strained our resources. That strain will continue to be felt in the coming year,” Deane said.
In 2019, the provincial government implemented a 10 per cent tuition cut and tuition freeze for Ontario students.
Last year, the University implemented a hiring freeze and imposed a reduction on faculty and shared services budgets to cut their projected deficit from $62-million down to $48-million, according to a budget deficit update posted on the school’s website.
Deane said that they are currently assessing and evaluating the university’s operations.
“The Provost and Vice-Principal of Finance and Administration are leading the budget strategy and I trust and believe they are capable of doing so,” Dean said.
“The decisions that lie ahead of us and the likely changes that will come will be the result of great care, consideration and reflection by all those entrusted to lead this university, including myself.”
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