(Barbados Nation) The University of the West Indies Cave Hill campus has managed to reduce its dependency on public funding for its operations by more than 35 per cent.
This is according to Principal Sir Hilary Beckles, who was quick to suggest that Government not cut the budget allocated for the tertiary institution.
Sir Hilary’s comments came while delivering remarks during a special ceremony for the opening of the Cave Hill School of Business (CHSB) building last Thursday. CHSB also celebrated 21 years of existence.
“I am proud to say that at the moment, the Cave Hill campus has reduced its dependency on public revenue for its operations to 65 per cent and falling. The remainder we generate ourselves for our expansion, our infrastructural development.
“And of course, the Cave Hill School of Business is a classic case of the university finding new and innovative ways of financing its own development,” he said.
“The threat to the business community is also a threat to the university as an enterprise. I find myself in full support of the views of Carlos Slim Helú, the richest man in the world. How wonderful it is to listen to the richest man in the world and say ‘yes, yes, I agree.
“This is what Carlos said . . . . ‘I believe that governments should stop trying to shrink the budget deficits by short-changing education’. I agree. I fully agree,” said Sir Hilary.
Budget cuts
The pro-vice-chancellor said that universities around the world have been experiencing budget cuts and universities across the region were not exempt.
“Universities across the Caribbean, the Cave Hill campus, they have been faced with hard choices to lay off staff, to cut enrolment but we have resisted all of these challenges because we believe that we ourselves as a university must become an entrepreneur . . . . we ourselves must generate revenues for our own development,” he said, and it was important that the university, private and public sector all “hang together”.
While delivering the feature address, Minister of Health and Member of Parliament for St James South Donville Inniss said, “Mr vice-chancellor and principal and others in the administration of the University of the West Indies, I know that it has hit home that there are no days of blank cheques from Government coming.”
Inniss said it was not business as usual and urged them to “use internal intellect, talent and experience to make continuous improvements” to the business processes at the institution.
