Alternative Budget Uncovers $14 Million Surplus at Ryerson University

TORONTO, March 11, 2015 /CNW/ - An alternative budget report commissioned by the Ryerson Students' Union and the Continuing Education Students' Association at Ryerson has revealed Ryerson University has been operating with an average $14 million surplus each year for the past 5 years.

"Year after year, Ryerson University has increased tuition fees and cut departmental budgets in the name of financial restraint. Today's report reveals fee increases and departmental cuts have done nothing but pad Ryerson's multi-million dollar surpluses," said Jesse Root, Vice-President Education of the Ryerson Students' Union. "It's time for Ryerson University to prioritize access to education over profits by freezing tuition fees." 

The alternative budget report is part of the students' union's Freeze the Fees campaign which is raising awareness of the sticker cost of attending university and calling on the institution to freeze tuition fees. In November, students camped outside Ryerson demanding that the university release budget documents after administrators declared they could not fund a tuition fee freeze.

"Funding public services, like Ryerson University, through tuition fees is not innovative," said Janet Rodriquez, Continuing Education Students' Association Vice-President Campaigns. "This report reveals that Ryerson has been operating with a surplus for many years and can in fact afford to make education more affordable for students."

In consultation with independent economists, the students' unions have several recommendations that offer alternatives to fee increases and departmental budget cuts, while ensuring accountability to students, faculty, staff, and taxpayers. The report revealed that even after the implementation of a tuition fee freeze at a cost $6.3 million annually, Ryerson would still have a budget surplus.

To View the Alternative Budget Visit- http://rsuonline.ca/campaigns/Campaigns-Student-Action

SOURCE Ryerson Students' Union

Jesse Root, RSU, [email protected] or [phone]; Janet Rodriquez, CESAR, [email protected] or [phone]