CBU Says ‘Unfair’ Funding Continues
Cape Breton University says the province isn’t doing enough to address what are being called unfair funding arrangements.
The University says it and Acadia University lost money when the provincial funding formula was changed in 2008, and it adds Acadia is getting help while CBU isn’t.
The University first raised the issue after it was revealed in July Acadia got 24.5 million dollars worth of grants or loan forgiveness over the past six years.
The province says it’s providing a funding increase to CBU in the upcoming budget, though the University says the increase will still leave them with an unfair share.
It adds the 2008 funding formula changes have led to a current annual operating funding loss of about 5.9 million.