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Lakehead University has the money. It chooses not to spend it on faculty.
The university has posted eight surpluses in the last ten years and collected $50.4 million
in unexpected tuition revenue since 2019. Its primary reserve ratio of 34.1% sits at the
top end of the healthy range, well above what financial stability requires.
Meanwhile, faculty have experienced:
• A 13% increase in the student-to-faculty ratio since 2021-22
• A virtually flat faculty complement while enrolment grew by nearly 600 students
• Salaries near the bottom of our peer group, including $8,900 less than Laurentian
at the assistant rank
New provincial funding will add more to the university’s bottom line. The Ontario
Government has announced $6.4 billion in postsecondary operating funding over four
years. Institutions will receive a 30% increase in operating grants on average. Lakehead
is also eligible for additional funding for small, northern, and rural institutions.
The university is financially strong. It has the resources to address our two biggest
priorities: complement and compensation. The administration chooses not to.
This document reviews the evidence from Lakehead’s own financial statements, Ministry
metrics, peer salary data, and the new provincial funding announcement so LUFA
members have a clear picture as we enter bargaining.
