Analysis of University finances from the University of Guelph Faculty Association (UGFA)
Read the University of Guelph Faculty Association’s analysis here: FAC Financial Statement Analysis(1)
The University of Guelph is claiming that we will be facing a 25.4 million dollar deficit. The UGFA financial analysis of the years 2006 to 2012 supports an opposite conclusion.
The university has three types of funds restricted, internally restricted and open funds.
• Restricted funds pay for expenses of the university.
• Internally restricted funds are funds that are voluntarily restricted by the university to help pay for expected expenses that the university will have to deal with in the future (such as pensions etc).
• Open funds are funds that university has which can be spent on initiatives of the university (text books, deficits etc.)
The analysis was from 2006 to 2012 and it was found that:
• During the years 2011 to 2012 the university had net surpluses of 25 million and 26 million.
• The internally restricted funds have grown from 35 Million to 172 million.
◦ Almost all funds can be moved from internally restricted funds to open funds. Only the hospitality services money cannot be removed from internally restricted funds.
During this claimed deficit:
• The Average Associate Dean salary has increased 65.4% since 2000
• The average Dean salary has increased 98.9% since 1996
• The average VP salary has increased 79.1% since 1996
• The presidents salary has increased 160.7% since 1996
The net surpluses from 2011 to 2012 did not have the internally restricted funds factored into them.
See the charts on administrative growth here: Growth – Chart