WINNIPEG—At its final meeting of this academic year, The University of Winnipeg Board of Regents took stock of the University – its people, finances, infrastructure, and future.
During Fiscal Year 2002-2003, the University ratified contracts with all of its unions, including a five-year contract with UWFA, the faculty union. As well, through the cooperation and resolve of all parties, the University concluded long-standing pension issues.
The Audit and Finance committees reported landmark financial improvements and strengthening of the University’s financial position.
With no cuts to programs or people, a balanced financial report for FY 2002-03 included:
- total elimination of the accumulated $1.1 million deficit
- an accumulated operating surplus of $59,000
- payout of $1.3 million of costs associated with the settlement of Pension Plan
Fiscal year 2003-04 forecasts include:
- a balanced budget for this year
- partial restoration of equipment and materials budgets
“The University of Winnipeg has long had the reputation as one of Canada’s leaders in liberal arts and sciences education. Together faculty, staff, administration, Regents, alumni, and donors rallied to eliminate the University’s accumulated deficit and present a balanced budget,” says Patrick Deane, Acting President and Vice-President (Academic). “The University of Winnipeg’s robust financial health now rivals its national reputation for access and excellence.”
With an enrolment increase of 13 per cent in the past year, The University of Winnipeg is home to over 8,000 full- and part-time students from across Canada and around the world. The University of Winnipeg recently increased its scholarship offerings by 12 per cent through implementation of the “80% Plus” scholarship program. Consistently ranked as one of the nation’s top five by Maclean’s magazine, The University of Winnipeg is the best primarily undergraduate university outside of the Maritimes.
“This has been quite a year,” says Richard Graydon, Board of Regents Chair. “I am proud to stand alongside the Regents, Senior Administration, and The University of Winnipeg community through this time of transition. We have been tested and not been found wanting. Together, on solid financial footing, we look forward to an even stronger future.”
Led by Acting President and Vice-President (Academic) Patrick Deane, the University of Winnipeg community is engaged in the development of an Integrated Strategic Plan that will consist of the University’s long-term academic, facilities, financial, and operating plans.
The search for the University’s next president has begun in earnest; a Presidential Search Committee has been struck, the University community canvassed, and a search consultant secured. Tonight the Board of Regents approved selection criteria for the next President and Vice-Chancellor of The University of Winnipeg. It is anticipated that the new president will be in place by September 2004.
Launched in April of this year, The University of Winnipeg Foundation recently announced its inaugural Board. Comprised of heavy hitters from the corporate world and led by Winnipeg’s former Mayor Susan A. Thompson, the Foundation Board has as its sole focus fundraising on behalf of The University of Winnipeg.
“With its financial house in order, The University of Winnipeg can focus with renewed vigour on our mission: excellence in post-secondary education,” says Stephen Willetts, Vice-President (Finance & Administration). “This is truly good news for our students, the University, and our Province.”
For more information, please contact:
Katherine Unruh, Director of Communications, The University of Winnipeg
tel: 204.786.9872 cel: 204.782.3279
