"At the University of Calgary we have built a strong financial foundation due to the hard work of many people over the last several years," says Cannon. "We have contingency funding set aside, and we will continue to work to find operational efficiencies and grow revenue. We will continue to move toward our Eyes High goals. Nevertheless, a budget reduction of this size means that we have some difficult decisions to make in the coming months.
"We know students, faculty and staff will have many questions about what these cuts mean to the university. We simply do not have all the answers yet. We will keep you informed over the coming weeks, including holding Town Halls for the campus community later this month."
Adds Cannon: "Given the level of this cut, and the government's clear focus on post-secondary institutions working more closely with each other and with government to find efficiencies, eliminate duplication and more closely align university research with the economic agenda of the province, structural change may be necessary within the post-secondary system."