Volume 93, Issue 34

Friday, October 29, 1999


NEWS

11 senaotrs stand tall after election

Incumbent tops BOG votes again

Western told, it takes money to get money

The stadium's last hurrah

Up the down staircases of UWO

Ownership of research a cause for debate in UCC

Briefs

Caught on campus

Western told, it takes money to get money



By Nina Chiarelli
Gazette Staff

The phrase, "Neither a borrower nor a lender be," was absent at yesterday's Board of Governors meeting, as school officials met to discuss funding possibilities.

University president Paul Davenport told Board members that money may need to be borrowed in order to secure other funds, as the application for the Super Built Growth Fund, a $742 million project from the Ministry of Training, Colleges and Universities, is due by Nov. 15. The chance of Western receiving money from the fund, which will help build extra facilities on campus, increases with the more money the university can secure on its own.

"The single most frequently asked question is what is going to happen with the double cohort," Davenport said. He explained the criteria on which the university is selecting its fundraising projects is based on four principles.

Enrollment growth, student demand, community and regional impact, as well as a suggested matching scheme, all affect Western's proposal to procure funding, Davenport said.

Davenport told the Board that borrowing funds to secure a base amount of $35 million, which is necessary to contribute in order to gain increased amounts of spending was one possibility. "After so many years of cutting, we know we have the opportunity to access additional funds," he said.

Davenport added if the government was willing to match funds raised by the university at a one to one matching scheme, borrowing could be a feasible option. The proposal has been referred to the Property and Finance Committee for approval.

Student Board representative Michael Rubinoff said he is always concerned when the university has to borrow money. He added the problem with the Super Built Growth Fund was the short amount of time universities were given to respond to the call for applications.

"The problem with the Super Built Growth Fund is its been imposed so quickly," he said, adding if borrowing money is what is needed to secure funding then the Board would definitely do it.

Since there originally was not another Board meeting scheduled before the Nov. 15 deadline, Board member Carol Weldon said she was hesitant to refer the borrowing discussions to the sub-committee.

However, Rubinoff also said the Board decided an additional meeting would take place on Nov. 11, so they could review the Super Built application proposal as well as the sub-committee's borrowing decision. "The Board must approve the proposal," he said, adding without such approval the government may view the proposal as weak.

Western's VP-academic Greg Moran explained government funding has turned its focus to awarding monies to institutions which provide much of their own capital spending. "We will go forward with the proposal, but the Board will ultimately have to determine the financing."


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Copyright The Gazette 1999