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MacEwan anticipates $17M shortfall in fiscal year after UCP budget
EDMONTON -- MacEwan University is expecting a $17-million shortfall in the current fiscal year that could result in layoffs and tuition increases.
Last week's UCP budget reduced post-secondary education spending from $5.4 billion this year to $4.8 billion in 2023.
MacEwan estimates its budget will be reduced by $17.1 million this fiscal year, in large part due to the 7.9 per cent reduction to the Campus Alberta Grant.
Tuition won't increase this school year, but institutions can raise it with a seven per cent average each year for three years after that.
As for layoffs, MacEwan said it has "some very difficult decisions to make."
"There are simply not enough non-salary savings or short-term revenue growth opportunities available for us to balance the 2019/20 and 2020/21 budgets without a reduction in positions," the school said in an email to CTV News Edmonton.
MacEwan said it does not have a layoff timeline in place, but that it would have to submit one for government approval on Dec. 2.