01/25/2013 06:21 EST | Updated 03/27/2013 05:12 EDT

Faculty at St. Francis Xavier University ready to strike on Monday

ANTIGONISH, N.S. - The union that represents faculty at St. Francis Xavier University in Antigonish, N.S., says union members are ready to go on strike Monday.

The union issued a statement Friday saying it can't accept the latest contract offer from the administration because the raises on the table are well below the cost-of-living.

The St. Francis Xavier Association of University Teachers represents more than 400 members who teach and do research.

Union president Peter McInnis says faculty want salary increases on par with other national settlements for academic staff.

The union is also looking for improved health benefits, pensions and funding for professional development.

University president Sean Riley released a statement saying progress has been made on many issues but the university believes the union's demands are not reasonable.