After numerous financial setbacks, the First Nations University Canada is getting a helping hand from the province of Saskatchewan with a one-time bailout of $2 million.
“This agreement is meant to ensure that the university can move forward,” said Rob Norris, Saskatchewan’s minister of advanced education, employment, and labour, in an Oct 7 statement..
Norris, who put forward the short-term solution after hearing about FNUC’s financial woes in July, said the money would enable the university to provide students with the best education possible.
FNUC president Charles Pratt said the university has had a history of problems, with part of its $1 million deficit stemming from federal cutbacks.
The university has also dealt with allegations of mismanagement. Two former faculty members are currently facing fraud charges.
As planned, over a million dollars will go towards bringing FNU’s faculty wages up to provincial standards. The remaining $500,000 will be allotted once FNU successfully completes a $400,000 financial review.
As for the long-term solution, FNUC’s board of governors has just over 3 months to come up with a financial strategy.
