04/20/2015 02:20 EDT | Updated 06/20/2015 05:59 EDT

University Of Calgary Freezes Executive Salaries

Taken from Nose Hill.
CALGARY - The University of Calgary has announced a one-year salary freeze for its 50 top executives to help deal with provincial government funding cuts.

The freeze is to be in effect from July 1 to June 30, 2016.

Last month, the government tabled a budget that includes a 1.4 per cent funding cut for post-secondary institutions this year and another 2.7 per cent in 2016-17.

University Provost Dru Marshall says the salary freeze is a fiscally prudent and responsible step to take.

He estimates the government funding cuts and inflation will leave the university with up to a $47 million shortfall by 2016-17.

The university says it has also put the possible granting of merit increases for managers and professional staff on hold.

Also on HuffPost

Winners and Losers of the Alberta Budget