LU cuts administration by $1 million to balance budget

Laurentian University finalized its first balanced budget in four years June 24.

The 2011-2012 budget was developed over the last six months, and included consultations with over 175 members of the university community during 17 sessions in Greater Sudbury and Barrie.

“Students were at the centre of all decisions made in the 2011-2012 budget process,” Dominic Giroux, president of the university, said in a press release.

“We are pleased by the result and on track with the plan to regain sustainability approved in 2009. The outcome will support the advancement of our four key goals and deliver value to our student community.”

“We remained true to the university's core priorities by investing in high quality academic programs, research excellence and student supports,” Carol McAulay, the university's vice-president of administration, said.

“Budget allocations shifted as administrative costs were reduced by $1 million and reallocated towards the areas that more directly impact students.”

Overall the annual budget of the university is increasing from $109 million to $110.4 million.

Some of the highlights include:

- Faculties' budgets increased by $2.1 million
- Five per cent increase in targeted expenditures related to research and graduate studies
- An additional $620,000 investment in Laurentian in Barrie
- $387,000 for the creation and staffing of the Centre for Academic Excellence
- $350,000 increase in investment in continuing education to support growth
- An additional $316,000 for student success and orientation
- $68,000 investment to launch the School of Mines approved by university's senate this month
- $50,000 increase to the library budget to extend hours of operation
- $50,000 professional development fund to ensure staff have high-quality learning opportunities
- $35,000 increase in investment in learning technologies to support evolving learning needs
- $33,500 for increased access to conferences for graduate students