Posted: Thursday, June 25, 2020. 3:05 pm CST.
By BBN Staff: The Minister of Education, Patrick Faber in his update on the education sector on June 8 mentioned a significant cut to the University of Belize’s subvention.
BBN has been informed that the University is in communication with its staff about budgetary concerns as it braces for the loss of subvention and lower than expected income from student fees.
The subvention from Government has been reduced from $11 million per year to just above $8 million this year, a 24% cut.
The University is also concerned about the lower expected enrollment which means a reduction in the projected collections from tuition and fees.
The cut in subvention and reduction in collection from student fees would mean a 25% loss in income for the University.
As the University prepares for the new normal, it is seeking input and support from its staff in addressing the major fiscal deficit that the University is faced with.
Though there is no decision yet on salary cuts, a cut in salary is one of the measures on the table for consideration. Sources inside UB tell BBN that if UB is unable to address the fiscal deficit, a salary cut of between 10 to 15% may have to be implemented.
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