The University of Dundee is at the heart of a more calamitous funding crisis, with a reported £35 million deficit. To address this bleak circumstance, the university has announced plans for a 700-employee staffing reduction. This commonsense decision is the first step of a larger initiative. Its ambition is to reverse the trend of worsening financial sustainability faced by most higher education institutions in the UK.
The Scottish Funding Council (SFC) has signed off a £22 million help package. This funding will go to the University of Dundee to support these efforts. Along with international scrutiny, the SFC has started its own independent investigation. Their hope is to learn what it was that contributed to the university’s fiscal downturn. Much of this inquiry seeks to determine how and why these mounting financial problems were a surprise to the leadership at the university.
Sadly for the University of Dundee, it is not the only institution facing that fight. Recently it has emerged that more than 80 UK universities are in financial distress with projected deficits of between £10 million and £50 million. The University of Edinburgh announced plans to remove £140 million from its budget over the next 18 months. This decision lines up with the growing trend at other institutions.
Interim Principal Shane O’Neill has expressed concern regarding the communication surrounding the university’s financial status. He said that false narratives were communicated to him and others in the past fiscal year regarding the college’s fiscal situation.
The University of Dundee has created a Strategic Advisory Taskforce to address these financial pressures head on. This taskforce will be a tremendous help in guiding and recommending us towards a sustainable future. Sir Alan Langlands has taken up the position of chair for this taskforce. He was the chief executive of the university from 2000-2009.
The taskforce’s inaugural meeting is slated for sometime this month. In response, they aim to develop immediate, actionable recommendations that will enable the university to weather these stormy times.
“It’s vital that there is meaningful involvement from campus trade unions in this group, and that it works at speed to save jobs and education, and to ensure that the university moves forward as a successful institution for the future.” – Sir Alan Langlands
Jenny Gilruth, Minister for Higher Education, putting great faith in the taskforce when she said in her press release. She highlighted the need for specialist guidance and early-stage assistance to help the University of Dundee. This assistance is particularly important as the land-grant university strives to ensure a stable financial livelihood.
“We are establishing this taskforce to ensure the University of Dundee has all the important advice and expertise needed to recover and build a strong, secure and sustainable future.” – Jenny Gilruth
The university is in a dire predicament. It’s currently taking steps to put fiscally responsible decisions into effect that will close its financial gap and protect the needs of students and employees—both today and in the future.
“We will draw on the expertise of the taskforce to identify credible solutions and do everything possible to protect the interests of current and future students and staff.” – Jenny Gilruth
