Families like the Benson’s and Kaneb’s made huge fortunes in our community; but chose again to ask for money instead of cover the cost of the study. Mr. Kaneb joking at the 18:15 mark of the video that they’ll be back for more money is frankly scary as the budget committee has recommended another tax increase for this year.
Pathetically the process was rife with Conflict of Interest. You had committee members voting on the funding with Councilor Elaine MacDonald and Mayor Kilger participating and voting as witnessed in the council meeting.
The ball was handed over to the River Institute. Dr. Jeff Ridal is on the committee and Councilor Bernadette Clement is on his board of directors. There was no RFP or tendering process for the study publicly notified nor to date; all these months later, has there been a study published.
Why? Surely it shouldn’t be that difficult especially when having bags of money to spend? Does it make any sense to cut snow fund suits for poor kids in Cornwall and then have some of the wealthiest people take tax dollars to fund a vanity study for a entity that is outdated and will never happen?
Learning now is rapidly shifting online. It’s not about bricks and mortar anymore which I’m sure is appalling to tenured profs and the university system; but also is more economically feasible for students.
Mc Master 297 1015 241.8%
Western 258 1,101 326.7%
Waterloo 311 1,042 235.0%
Note from financial statements
* The University of Guelph’s unfunded status of post employment benefits while not recorded on the University’s statements, continued to increase in 2013 with a combined deficit (on an ongoing accounting basis) of $741.3 million ($484.3 million in 2011).
** The University of Toronto has made a $150 million lump sum payment to their pension plan and intend to do another in 2014 to address the unfunded liability issue.
MacLean’s magazine described the situation best
“management, with their fat cat compensation, will continue negotiating fat compensation with faculty, while politicians hold their tongues so that taxpayers don’t go after their fat compensations next’ ……