EDMONTON- The president of the University of Alberta says strategic, careful choices must be made in order to address a structural deficit the institution is facing.
In her annual State of the University address Thursday, President Indira Samarasekera said despite efforts to reduce costs, increase fundraising and maximize revenues, the University is facing an estimated $12 million deficit in 2013-14.
"Can we do things differently to save money? We're looking at every possible way," said Samarasekera.
With just one week before the province tables its budget, the University is also worried cuts to education funding could be on the way.
"I am very, very worried, because I think that if the cuts are deep, they would have undone the investments of the last five or six years," Samarasekera said. "Universities cannot turn on a dime. Change requires time, and what I'm worried about is that if we're asked to make significant cuts, with little warning... I can't turn a $1.7 billion operation on a dime, so I am worried."
Samarasekera is also looking for long-term solutions when it comes to funding at the University of Alberta. Samarasekera says the government needs to realize that as a research-intensive institution, the U of A has unique needs and should be funded differently than other post secondary institutions.
"Because we have that dual function, teaching, research, undergrad and grad, there's no way that we can be funded like the comprehensive universities," Samarasekera said. "We need the ability to shape this institution as we believe it should be, to make academic decisions that will ensure the strength of the University of Alberta far into the future."
The President of the University of Alberta's Academic Staff Association is worried about the uncertain fiscal times, as well. However, she says the University has managed its finances well over the past few years and it shouldn't jump to immediate cuts.
"This is one of the top universities in Canada, and even in the world. So we have to be very careful that we maintain this University and not wreck it," explained Donna Wilson.
The President of the Students' Union is also keeping a close eye on the situation. Colten Yamagishi is worried additional fees could be placed on students' tuition.
"We've seen them make moves with mandatory non-instructional fees and market modifiers to go around the tuition cap in the past, so, it's definitely a concern any time a cut comes up," Yamagishi said. "What I'm really worried about is the future of Alberta, to be honest with you. If we're not providing affordable and accessible education to our students here, how can we have that distinct economic impact on our province?"
Despite the uncertain times, Samarasekera remains optimistic about the institution's future.
"I don't ever give up my ambition, good time or bad. That's how great institutions are built, is because you don't lose sight of your goal when times are tough."
A clearer picture will be painted when the provincial budget is tabled on March 7.
With files from Vinesh Pratap.
© Global News. A division of Shaw Media Inc., 2013.