UWI to cut expenditure, create new COVID-19 budgets
The University of the West Indies (UWI) intends to cut expenditure significantly in response to the economic challenges posed by the coronavirus pandemic.
UWI Vice-Chancellor Professor Sir Hilary Beckles stated this during his Report to the University Council on May 13.
He said: “We will cut our expenditure significantly and bring new COVID budgets back to the University Grants Committee for approval and then begin the process of rolling out a new era in the way we manage the University’s finances and programmes.”
The UWI Vice-Chancellor noted that six months before COVID-19, the University decided to cut its expenditure in critical areas of operations and came out with a vision to cut 10 percent in the next two years. However that was pre-COVID-19.
The cash flow issues before the UWI are evident and Professor Beckles said they are in the process of revising the institution’s budget.