|
||
FROM THE BOARD OF GOVERNORS’ MEETINGS – FRIDAY, SEPTEMBER 26, 2003 INVESTMENTS SUPPORT DOUBLE COHORT PREPAREDNESS Progress continues to be made on reducing accumulated deficit Trent University’s Board of Governors approved the 2002-03 financial statements highlighting a number of investments the University has undertaken to prepare for the double cohort. The statements noted that Trent invested $5.018 million in 2002-03 fiscal year to accommodate a 52% increase in first year classes resulting from the double cohort class of 2003. As the double cohort flows through and graduates in the 2007-08 fiscal year, the University will have invested more than $9 million over the 2002-03 fiscal year to accommodate the one-time enrolment bulge. Other highlights in the report include: A) Prudent Fiscal Management of the University:
B) Investments resulting in:
C) The financial statements highlighted three distinct trends around the University's revenues and expenditures:
Trent University's Acting Vice President (Administration) Garth Brownscombe is pleased by the improved financial situation of the University, however he emphasized that, "The University is still trying to make up $1.4 million from lost government revenue due to cutbacks to Trent's provincial operating grant in the mid to late 1990s." Brownscombe estimates that the University took on approximately 500 students during that period who were funded solely through tuition revenue. |
||
Return to Trent
University Home |
||