Resource Optimization
The economic and financial crisis clearly impacts universities in Ontario and elsewhere. Fortunately, our strong financial position allows us to approach these challenges in an orderly way. Nonetheless, we will need to make some difficult decisions over the next few months.
Based on our current projections, the University anticipates a deficit of $5 million dollars this year (budget 2008-2009), $13 million in 2009-2010 and $25 million in 2010-2011.
Let’s use the current situation as an opportunity not just to confront a financial challenge but also to modernize and improve the way we serve our students, faculty, staff and community.
We have put a resource optimization work plan in place in order to obtain these twin objectives. Eleven task forces have been created to review our current practices and organizational structure to provide recommendations for improving services, reducing expenses and generating revenue. The eleven task forces are:- Alumni Relations and Development Offices
- Ancillary Services
- Assessment of Ideas
- Communications
- Computing Services
- Faculties and Services
- Human Resources
- Physical Resources
- Research Management
- Strategic Enrollment Management (SEM)
- Scholarships and Financial Aid
It is likely that additional task forces will be created in May and June to explore other opportunities for improving our services and maximizing our resources. We invite members of the community to share their suggestions for consideration by the Committee of Assessment of ideas.
A steering committee was formed to analyze the recommendations put forth by the task forces.
Task force deadlines
April 1, 2009 - Work plan to be submitted to the Resource Optimization Work Plan Steering Committee.
September 2009 - Reports and recommendations to be submitted to the Steering Committee.
September to November 2009 - The Steering Committee will analyze task force reports and recommendations.
December 2009 to April 2010 - Budgetary assumptions will be finalized and the 2010‑2011 budget prepared.