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Thread: UofC Bach of Commerce.. FUFUFUUFU

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    Default UofC Bach of Commerce.. FUFUFUUFU

    The University of Calgary has cut a projected $47.5-million deficit by more than half and set aside a contingency fund of $30 million in passing a balanced budget for 2011-12.

    The university's board of governors passed a $1.09-billion budget Monday that also includes increases in tuition and previously approved fees that kick in this fall.

    The university carried a $21.1-million deficit last year and had projected a $21.7-million shortfall for the new budget, but has instead managed to balance it.

    The school is now projecting a deficit of $6.6 million next year and $21.3 million in 2013-14, less than half what was forecast a year ago.

    "The ability to balance the budget and to be able to reduce the forecast has really been working with faculty, staff and the students," said Jake Gebert, vice-president of finance and services.

    "It's a juggling act, but we are positioned way better since I've been here, probably in the last 10 years."

    The budget includes a 0.35 per cent tuition increase, which will amount to an average $18 extra per semester, which students' union president Lauren Webber voted against to protest two other previously approved fees that will cost students much more.

    "I do realize that 0.35 per cent isn't that much but, all in all, tuition and fees that students are paying are above inflation next year," said Webber. "That includes the mandatory non-instructional fee and the phase in of the market modifiers."

    The 0.35 per cent is a provincially mandated increase tied to inflation, but starting in September students in the bachelor of commerce and master of business administration programs will face a market modifier fee on each business course they take.

    Undergraduate students in the Haskayne School of Business will pay $233.06 per course and those in the MBA program will pay $313.09 per course.

    Undergraduate commerce students typically take one business course in their first year, which will now cost $758, up from $525. The cost of a four-year degree will increase by about 20 per cent, based on current course costs.

    These fees were approved last year by the province.

    James Lange, president of the Graduate Students Association, said his membership supports the additional fee.

    "For us, it only affected MBA students who are actually willing and almost happy to pay for the program because they think it'll increase its profile and be a good investment," said Lange, who noted that the money raised by the fee will go directly to the faculty to market programs and attract better professors and more resources.

    "Like any responsible citizens, we're willing to pay more if we're getting value out of it," he said.

    For the second year, starting in September, students will also pay a non-academic fee at a reduced rate. For the 2011-12 students will pay $150 per semester, which should generate $4 million during the year, but in 2012-13, that rises to $450 per student for $12 million in additional revenue.

    These fees, along with an increased enrollment of nearly 1,000 full-time equivalent positions in September, have led to more money in the school's coffers.
    The U of C's endowment fund also hit record high value of $422 million in the fall after recovering from the recession. An administrative review begun in early 2009 has generated $10 million in annual savings.

    This has all helped the university build up a $30-million contingency fund that the school hopes to increase to $50 million, or five per cent of the total budget, by March 2012.

    "We started this two or three years ago," said Gebert.
    "We said we'd balance our budgets, we'd fund our commitments and we'd set up a contingency fund.
    All three of those were done to give us financial sustainability. We now have some, what I call, degrees of freedom."

    Negotiations for a new collective agreement for the Faculty Association that represents professors and instructional staff will begin in the coming weeks as the current contract expires on June 30.

    Gebert said a three per cent increase has been factored into the budget as an estimate.

    "We're always making assumptions as to what the future is," said Gebert. "We've used a three per cent inflation adjustment for all salaries."

    [email protected] Copyright (c) The Calgary Herald Read more: http://www.calgaryherald.com/slices+...#ixzz1FMwPeNuI
    FUFUUFU

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    Wasn't this proposed a while back and was expected?

    It's a big jump, especially if you're doing FT ($233.06 x 5 courses = $1165.30 on top! )

    We have it lucky though; subsidization FTW! International students are gonna choke.

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    Haha, I am so glad I am finished.

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    how is their budget so large? the whole City of Edmonton's operating budget is like 1.3 billion...
    Tap, Rack, BANG!

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    I heard from someone these rates will only apply to new students starting next fall? Does anyone know if thats true or not?

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    Was a little bit confused when they said
    "Undergraduate students in the Haskayne School of Business will pay $233.06 per course and those in the MBA program will pay $313.09 per course."

    thought they meant $233.06 in total, not on top of the $5xx.xx
    but that is brutal.



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    I'm not as outraged with this,
    as with my MBA, I am already paying $1500 a course, whats an extra $300.

    Its tougher with the undergrads, because can't afford the increase.

    Its not as outrageous when most of us MBA's, have been out of school working for at least 3 years before going back to school. So the buffer money is there is we need it.

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    It'll be interesting to see how the Haskayne douche ratio will be affected by this. I forecast an increase.

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    This is the outcome from the shenanigans from last year, correct? If I recall, they were proposing to increase fees for a bunch of programs in the Haskayne, Schulich, law and medicine faculties, but only the increases for business programs were approved by the government.



    "For the 2011-12 students will pay $150 per semester, which should generate [...] but in 2012-13, that rises to $450 per student."
    Lame

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    What a load of BS. What happened to the Engineering/Medical increases? So undergrad Bcomm students have to bear the weight?



    This better mean there's a god damn spot reserved with my name on it at X company with a god damn welcome basket of foods and Spa coupons.
    200$+ increase is huge...that's well over 40% of the original cost per course.

    And of course - we'll be stuck with (I speak very broadly and generalizing with this, there are exceptions) the industry washouts who got their PhD's at McDonalds University only to end up teaching undergrad students at the HASKAYNE SCHOOL OF BUSINESS.


    What..a..joke...I can't even believe in the recent EBITS newsletter someone dared to compare UofC Haskayne to Ivy League business schools - saying we have bigger connections to industry hitters


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    Originally posted by sk8r3124
    I'm not as outraged with this,
    as with my MBA, I am already paying $1500 a course, whats an extra $300.

    Its tougher with the undergrads, because can't afford the increase.

    Its not as outrageous when most of us MBA's, have been out of school working for at least 3 years before going back to school. So the buffer money is there is we need it.
    I thought current students had their tuition grandfathered, so it only affects students registering after 2011.

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    Originally posted by magicalpoop
    What a load of BS. What happened to the Engineering/Medical increases? So undergrad Bcomm students have to bear the weight?



    This better mean there's a god damn spot reserved with my name on it at X company with a god damn welcome basket of foods and Spa coupons.
    200$+ increase is huge...that's well over 40% of the original cost per course.

    And of course - we'll be stuck with (I speak very broadly and generalizing with this, there are exceptions) the industry washouts who got their PhD's at McDonalds University only to end up teaching undergrad students at the HASKAYNE SCHOOL OF BUSINESS.


    What..a..joke...I can't even believe in the recent EBITS newsletter someone dared to compare UofC Haskayne to Ivy League business schools - saying we have bigger connections to industry hitters

    What's with all the bashing towards Haskayne? I'm not in business but I read that the MBA program is pretty good. Maybe the graduate side is better than undergrad?

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    Originally posted by [GaGe]


    I thought current students had their tuition grandfathered, so it only affects students registering after 2011.
    I believe it is the first year commerce courses that get a slightly HIGHER increase. The rest of the required BComm degree courses still increase. What can we do..

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    Originally posted by heinz256
    I heard from someone these rates will only apply to new students starting next fall? Does anyone know if thats true or not?
    It should be applying to everyone.

    Undergraduate commerce students typically take one business course in their first year, which will now cost $758, up from $525. The cost of a four-year degree will increase by about 20 per cent, based on current course costs.
    That 1 business course is BSEN 291. So +233$ for 1 course. So next year Bcomm students will suffer that extra 233. However the rest of us currently in the program will have a "20% increase.." So pretty much all your required Bcomm courses (Core 217s and etc) will go up by 20%. This is what I get from the article though.

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    7 business courses left to take next year...get me out and I'll be happy. Sure it is complete bullshit but what can ya do.

    On a side not how about we do not send CUS to kelowna for a weekend of fund subsidized by our money paid to them....maybe stopping shit like this money will come out of no where.

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    I'm 90% sure you guys will be grandfathered. I thought they were doing it for engg too, guess not? But, I knew for sure we were going to be grandfathered
    Quote Originally Posted by Gestalt View Post
    Im the one with a learning disability....

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    Originally posted by dirtsniffer
    I'm 90% sure you guys will be grandfathered. I thought they were doing it for engg too, guess not? But, I knew for sure we were going to be grandfathered
    How about for those who are already a UofC student but transferring to business? Would they still be considered grandfathered despite switching to a new faculty?



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    Originally posted by gyu

    How about for those who are already a UofC student but transferring to business? Would they still be considered grandfathered despite switching to a new faculty?
    Definitely not

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    Originally posted by gyu

    How about for those who are already a UofC student but transferring to business? Would they still be considered grandfathered despite switching to a new faculty?
    no idea, maybe
    Quote Originally Posted by Gestalt View Post
    Im the one with a learning disability....

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