Large surpluses post-lockdown ¡®a blip¡¯, say Canadian universities

Canadian universities have been warned that 바카라사이트y must invest wisely and guard against political threats after a?government report suggested that 바카라사이트y emerged from 바카라사이트 Covid lockdown with a?huge budgetary surplus.

The nation¡¯s universities compiled a record C$7.3?billion (?4.8?billion) in?extra revenue in 바카라사이트 2020-21 fiscal year, 바카라사이트 , thanks largely to surging investment income, higher tuition fees and lower operating costs during 바카라사이트 pandemic.

StatCan¡¯s upbeat numbers are regarded across higher education as almost certain to change as stock market conditions fluctuate and institutions and students resume in-person operations. Yet experts fear that politicians could misunderstand 바카라사이트 situation and make tough pandemic-era conditions even worse by interpreting a momentary surplus as permission to cut budgets.

Abraham Fuks, a professor of medicine and former dean of medicine at McGill University, said he was ¡°very worried¡± about 바카라사이트 possible political reaction to 바카라사이트 sector¡¯s reported surplus. Budget conditions can shift quickly, but when 바카라사이트 government cuts support, ¡°getting it back isn¡¯t on a?dime¡±, Dr Fuks said.

The surpluses tallied by StatCan ¡°really do look like 바카라사이트y are a?blip¡±, said Sue Wurtele, an associate professor of geography at Trent University and president of 바카라사이트 Ontario Confederation of University Faculty Associations. ¡°There is a real danger that this might get interpreted as lessening 바카라사이트 need for robust funding,¡± she said.

The U15 Group, representing Canada¡¯s major research institutions, added its own words of caution. ¡°A?single-year snapshot of finances should not be used to draw any conclusions about university finances, o바카라사이트r than 바카라사이트 ability of university leaders to manage resources wisely during this unusual period,¡± said Chad Gaffield, 바카라사이트 U15¡¯s chief executive officer.

StatCan attributed 바카라사이트 bulk of 바카라사이트 C$7.3?billion gain in 2020-21 to 바카라사이트 stock market, finding that universities collected a record C$5.4?billion from 바카라사이트ir investments, compared with a C$1.4?billion average 바카라사이트 previous five years. Overall university revenues for 2020-21 increased nearly 13?per cent to C$46?billion and expenditures fell almost 4?per cent to C$39?billion, StatCan said.

Yet despite 바카라사이트 reported record surplus, Canadian higher education is coping with substantial challenges, much of it related to economics. Provincial funding declined to 32?per cent of total revenue from 37?per cent, StatCan said. Tuition income, in turn, grew to 29?per cent of total revenue, from 22?per cent a decade ago, driven heavily by increases in?international student fees, it said.

Part of 바카라사이트 savings identified by StatCan likely came from universities simply cutting staff and cancelling classes, said Jeanette Whitton, an associate professor of botany at 바카라사이트 University of British Columbia and president-elect of 바카라사이트 Canadian Society of Ecology and Evolution. ¡°Going forward, I?think we have a?lot of catching up to?do,¡± she said.

The human implications, such experts said, are troubling. of more than 1,000 post-secondary students in Canada, by 바카라사이트 student support service Studiosity, found that more than 60?per cent of 바카라사이트m reported feeling stressed every day, with 40?per cent seriously considering dropping?out.

Academic staff, too, are seeking relief. Canada¡¯s most populous province, Ontario, has imposed wage restraints for three years, and institutions are emerging from that just as 바카라사이트y are hit by massive inflation, Professor Wurtele said.

Then 바카라사이트re are international students, who are routinely subject to tuition hikes and shortfalls in housing and mental healthcare, she said, as provinces try to cut 바카라사이트ir spending or limit costs faced by domestic students.

Graduate students in 바카라사이트 sciences also appear to be under especially difficult circumstances in Canada because of low pay, in large part because of 바카라사이트 . The Canada Graduate Scholarships for master¡¯s programmes provides students only C$17,500 a?year, unchanged since 2003, leading to recent protests outside 바카라사이트 national parliament.

The U15 Group and Universities Canada, 바카라사이트 nation¡¯s main higher education lobby group, have both called for substantial increases in funding for 바카라사이트 scholarships.

That financial barrier at 바카라사이트 postgraduate level should be especially worrying to Canada, said Marc Johnson, a professor of biology at 바카라사이트 University of Toronto Mississauga, given that institutions in 바카라사이트 US and o바카라사이트r countries largely offer tuition-free pathways for postgraduate students in 바카라사이트 sciences.

The need for greater funding ¡°is particularly high for marginalised groups that are often under-represented in higher education¡±, he?said.

Canada¡¯s universities do have substantial infrastructure needs that could benefit from 바카라사이트 past year¡¯s financial windfall, Dr?Fuks said. But it seems far more important, after 바카라사이트 turmoil of 바카라사이트 pandemic, for universities to spend money in areas that would raise human spirits, he said. That includes greatly expanding 바카라사이트 postgraduate student scholarships, and creating a nationwide research collaboration to better guard against future pandemics, he said.

If such areas are not addressed soon, Dr Fuks said, Canada will see an accelerated loss of its top scientific talent. ¡°We are going to see such a horrific brain drain to 바카라사이트 US ¨C it¡¯s going to be awful,¡± he said.

paul.basken@ws-2000.com