University Bursar's Report - Finance

Mrs Andrea McNish

Mrs Andrea McNish

University Bursar/Chief Financial Officer (Acting)

While The University of the West Indies has benefitted from decades of financial support from regional governments, the reality is that this support is insufficient to adequately sustain the activities of the institution. The UWI continued to face funding challenges throughout the review period August 1, 2015 through to July 31, 2016, which required the institution to find innovative ways to thrive in the ever-changing higher education arena.

The UWI operations for the financial year 2015-2016 reflected a deficit of BDS$18.7 million (compared to the 2014/2015’s BDS$59.4 million deficit). Though the proportion of government contributions to total income remained constant over the review year (at 46%), it has gradually declined over the years, which has led to a shift in the focal point of The UWI’s Strategic Plan.

The institution saw a reduction in central expenditure, which reflected the reduced impairment provision made for receivables in 2016 of BDS$16 million, compared with BDS$56.5 million in 2015.

In the period under review, The UWI’s income generating activities accounted for 32% of its total income, which has been used to support the operations of the University as it continues to feel the effects of the shortfall in government funding.