The Globe and Mail reporting that Queen's University is in financial trouble, running a large in-year deficit (about 48M this year) for the second year in a row, and that it will likely run out of financial reserves to cover the losses next year.
Queen’s provost Matthew Evans says he’s concerned ‘about the survival of this institution’
www.theglobeandmail.com
Within the story (behind the paywall) it is also noted that at least 10 of the province's universities are similarly in a deficit position.
Ontario, it is noted, provides the lowest per capita funding for Universities of any province.
Reckoning, it would seem, is coming.
Either alot of new dollars will flow in the provincial budget this spring, or there will be a very deep shakeup in the post-secondary sector.
In turn, that alone would mean a larger deficit or a material tax hike.
There are so many proverbial fires burning right now, with under-staffed hospitals, excessive wait times, schools struggling to stay staffed, many municipalities facing significant tax hikes and poverty climbing as well.
*****
Time for the province (long since time) to admit we can't get by on current taxation levels, and a rise is in order; particularly on the sales tax front.