UAlberta posts deficit of $4.9 million

For the second year in a row, the University of Alberta board of governors has approved a deficit budget. For 2011-12, the university will be $4.9 million in the red, but that figure is down significantly from last year’s $14.8 million deficit, the Edmonton Journal reported. Provost Carl Amrhein, says the U of A was able to improve its finances because of a combination of staff layoffs, furlough days for faculty, government approved tuition increases, and provincial funding for operating and utility costs for new buildings. When asked if there would be layoffs this year, Amrhein said it was a possibility, but could not say for sure. "There are too many sources of change in big faculty budgets to be able to predict at this point," he said.