Nipissing University passes budget

The Board of Governors at Nipissing University has passed the institutions budget for the next school year. Of Note: expenses outpaced revenues by over 5 million dollars resulting in a 5.2 million dollar deficit. The expenses were close to 73 million dollars and the revenues were under 68 million. The deficit figure is 6.6 million dollars lower than a year ago when it was almost 12 million.

The university highlighted its recovery plan at Thursday’s board meeting in an attempt to return the university to financial health.

Some of the highlights include increasing research revenue and working with the ministry to examine current funding mechanisms.  Officials say they have made some tough decisions over the past 12 months and will continue to work to minimize the deficit through fiscal responsibility.