Queen's University is among the many Ontario post-secondary institutions facing exacerbated financial deficits
On Jan. 25, Queen’s University announced they they would begin working with Nous Group to address their financial struggles.
These financial struggles are part of a larger issue many universities in Ontario are currently facing. In a report by a blue-ribbon panel, created by the Ontario provincial government to ensure long-term financial sustainability in post-secondary education in the province it was found that in Ontario universities currently receive the least amount of money per entering student in comparison to other provinces.
Furthermore, the Council of Ontario Universities noted that 10 universities are currently predicted to have a total of $175 million in operating deficit.
Many universities are blaming their financial strife on the tuition fee reduction in 2019 and the subsequent tuition freeze policy. These were implemented in 2019 after provincial government had removed the system that provided tuition rides for low-income students through the Ontario Student Assistance Program.
Queen's University currently reports its financial deficit at $48 million, which had originally been marked at $62.8 million. On Queen's University's website, they credit this improvement to enacting a hiring freeze and adjustments of budgets.
To improve their finances, Queen's is now working with international consultancy firm Nous Group and has introduced their operations as the Queen’s Renew Project. The timeline for their project has not been released. However, they have emphasized that the goal is to address the financial concerns through internal review and suggest redirection.
A group called Queen’s Coalition Against Austerity has formed in opposition to the controversial Queen's hiring freeze.
This state of financial crisis is not unique to Queen's and is being experienced by the majority of Ontario post-secondary institutions. McMaster University has also begun to take steps to address their financial issues.
The institution has announced that their finances are being managed internally and have released written financial goals through the published blue-ribbon panel report.
With the recent updates to their financial management, Queen's University principal Patrick Deane stated in a published message, "I am hopeful that as we have done in the past, we will face obstacles together and emerge stronger for our efforts."
This is an ongoing story.
By: Graham West
Returning to the U Sports National Championships, the McMaster men’s volleyball team suffered a tough loss against the second-seeded Trinity Western University Spartans in the opening round; a familiar foe ending the Marauders’ hopes at winning another national medal following last year’s bronze.
This sent the team to the consolation semifinals where they took a heartbreaking loss in a rematch of the provincial finals against the Queen’s University Gaels. Even though the outcome of the tournament did not go the Marauders’ way, they still gave it their all to finish off the season.
Going into their first game, the team knew it would be a tough road getting past Trinity Western as they’ve played before in the national tournament. The Marauders, following their Ontario University Athletics silver medal, was given a disadvantaged position as the seventh seed in the tournament, setting them up to face No. 2 Trinity.
Mac was well aware of this possibly-discouraging matchup but tried to use the familiarity with their opponent to their advantage.
“They’re obviously a very good team and they’ve had some serious success in the past,” starting outside hitter Andrew Richards said. “We’re going into this the underdogs and we’re going to take that mindset and use it to our advantage. For us we have nothing to lose and we’re just going to give it all we have.”
Ultimately this was not enough to give the maroon and grey the win, losing 3-1 to their British Columbian foes. Despite the early exit from the tournament, the week did feature a bright spot.
🏐🚹 @McMasterSports head coach Dave Preston reacts to his team loss against the @TWUSpartans // L’entraîneur de McMaster Dave Preston réagit à la défaite des siens contre Trinity Western #ChampSZN pic.twitter.com/XTwrJRexhq
— U SPORTS Volleyball (@USPORTS_VBall) March 16, 2019
Over the weekend, Richards was awarded All-Canadian Second Team honours for his contributions to the Marauders’ success on the court this year, placing in the top 10 in Canada in aces per set (0.51) while leading his team with 185 kills over the season.
Richards was also awarded the Dale Iwanoczko Award for being an outstanding student-athlete and demonstrating excellence off the court. Richards is the first Marauder to win the award since its inaugural year in 1994.
“It’s a good way to end my five-year journey at university,” Richards said. “It’s an individual award, but I really can’t take all the credit for it.”
“I’ve had some amazing mentors and leaders in my life that have always challenged me to do that, so without them I really would have never been recognized for something like this.” Richards added.
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Richards’ mindset going into nationals was the same one which has made him such a great player in the first place: a mindset predicated on fierce competitiveness, mutual respect from his teammates and a genuine love of the game. This was Richards’ last chance at competing for a national championship and he took the opportunity just like he takes all of his games.
“I was talking to one of my coaches today, and he wanted me to sit down and think about once I’m done from Mac, in a couple of years, how do I want to think back and remember these last couple of days,” Richards said. “For me, I want to look back and know that I enjoyed my last matches and competed hard and that I was a good teammate and regardless of the outcome.”
This year marks the last year Richards will be wearing maroon for the men's volleyball team as his years of eligibility run out. While the team’s finish at nationals may not have been ideal, they still left their all on the court. Richards, and the teams he has been a part of, have left behind a tremendous legacy of numerous records, medals and trophies, and is one that will surely not be forgotten.
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After falling to the Queen’s University Gaels for the Ontario University Athletics Forsyth Cup, the McMaster men’s volleyball team are headed to the U Sports Men’s Volleyball Championships, but not exactly where they would like to be.
For the first time in seven years, the Marauders are heading to nationals, not as OUA champions. Although surely grateful that they still get to compete at the national level, the disappointment is still there. After a change in OUA men’s volleyball structure, the men’s team had to play their final game on the Gaels’ home court, despite being the number one seed.
The close matchup saw the Marauders and Gaels play five sets. After ending the first set 19-25, the Marauders bounced back strong, winning the second and third set 25-19 and 25-23, respectively. Unfortunately, the Gaels were in the comfort of their own home and were able to outscore the Marauders in both the fourth and fifth set, 16-25 and 13-15.
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This result landed the Marauders ranked seventh place going into nationals in Quebec City this weekend. Not only is this McMaster's lowest seed at the national tournament since Mac hosted in 2007, but their first opponents are also their longtime rivals, British Columbia’s Trinity Western University Spartans.
The number two seeded team has faced Mac several times in the national playoffs, and for the last four years, they have outplayed Mac. For First Team All-Star left side Andrew Richards, this is the last Canadian university volleyball championships he will ever play in. So hopefully the Marauders will be able to shake the curse and come out victorious against the Spartans.
First serve is scheduled for this Friday at 6:00 p.m.
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The McMaster men’s volleyball team is heading to the Ontario University Athletics volleyball semifinals for the 15th-straight season. After defeating the York University Lions 3-1 in the OUA quarter-finals, the Marauders are heading into the Final Four ranked fifth in the nation.
Several Marauders were also honoured with OUA recognition, with outside hitter Matt Passalent taking home the highest honour, OUA West Player of the Year. Fifth-year Andrew Richards took home the Dale Iwanoczko Award for his work off the court. Passalent and Richards were both named First Team All-Stars, while Craig Ireland was named to the Second Team. First-year middle Tyler Pavelic’s season was recognized with a spot on the All-Rookie team.
With six straight OUA titles, the journey to their seventh begins this weekend when the Marauders face the University of Windsor Lancers in a semi-final match-up. If they win, they will go on to play in the final game for the OUA Forsyth Cup. The game will be on Saturday, March 9 at 1 p.m. at Queen’s University.
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After defeating the University of Ottawa Gee-Gees in the OUA finals to capture the Critelli Cup, the Marauders are heading to Ryerson University to play in the U Sports National Championships for the second-straight season. With the No. 2 seed in the tournament, the Marauders will face the No. 7 Concordia University Stingers.
Led by Critelli Cup game MVP Hilary Hanaka, the Marauders hope to see a different result in this year's National Championships compared to last year. The ladies headed out to Regina last year where they unfortunately did not finish where they wanted to. Losing in the first round to McGill University, the Marauders were not prepared for the level of play, but are hoping to see different results this time around.
Already defeating the Carleton University Ravens during the 2019 OUA semi-finals, who were also the 2018 U Sports Champions, the idea of going straight to the top does not seem so far off. Tip-off time is at 12 p.m. Thursday, March 7.
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With a number of Ontario universities facing large pension deficits, the province recently gave universities and other public sector employers a three-year extension to put sustainable pension plans in place.
Prior to the extension, several universities were running pension deficits in the hundreds of millions and had applied for solvency relief from the government, with terms expiring in January 2014. The three-year extension would allow universities to defer their solvency payments, or make interest-only payments, until 2018.
“[The extension] gives universities and their employees breathing room to address their pension plans,” said Graeme Stewart, communications director for Ontario Confederation of University Faculty Associations (OCUFA). The OCUFA lobbied for short-term relief from pension pressures.
Currently, all but three universities in Ontario face pension solvency deficits, according to OCUFA.
Queen’s University, for instance, faces a pension deficit of $459 million. To pay that off in 10 years, the university would have to draw heavily from its operating budget — extra funds it does not have — to allot $35 million annually to its pension fund.
Caroline Davis, vice-principal of finance and administration at Queen’s, recently called the university’s deficit issue “one of the most pressing financial issues facing Queen’s” in a Q and A on the school’s website.
Davis also said that the three-year short-term relief “would not eliminate [the university's] solvency problem and it would come at a cost.”
“It’s a little like making only the minimum payments on your credit card,” she said.
McMaster University’s 2013-14 consolidated budget similarly cited the university’s pension deficit as “the most significant financial pressure McMaster faces.”
The University of Ottawa has a pension deficit of $289 million and was approved for solvency relief this past June. Prior to the approval, the U of O faced the option of diverting $62 million, about 9 per cent of its operating budget, to paying off the deficit over five years.
Unfunded pension liabilities in universities have been an issue in Ontario for a number of years, exacerbated by the 2008 financial crisis.
“There were contribution holidays taken a decade ago when the plans had surpluses – the universities asked to not make contributions and were given that,” said Stewart. “The market crashed in 2008 and still hasn’t recovered. We also have historically low interest rates.”
“This is a short term stop gap,” Stewart said of the extension granted by the province. “OCUFA has received a grant from the government to do research on [sustainable pension options] – and so has the Council of Ontario Universities.
“It gives us time to do research and gives us time to propose some solutions.”
