The University of Calgary had projected a $47.5 million deficit for 2013-14, but that number has been cut in half after the board of governors passed a balanced budget for 2011-12. Instead, the university is expecting a shortfall of $6 million next year and $21.3 million the year after that. A deficit was expected for this year, but after an administrative review and increased tuition and other fees, the university’s coffers are in a healthy state. Tuition fees for most students will only rise 0.35 per cent, or $18 a term, this year, but a $150 per student non-instructional fee will generate $4 million in revenue. That fee will rise in 2012-13 to $450, bringing in $12 million. Larger tuition increases were approved by the province last spring for MBA and undergraduate business students, who will see their tuition rise by $313 and $233 per course respectively. As a result, the university has created a $30 million contingency fund.
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