RISING COSTS

Evening Post, Volume CVII, Issue 85, 13 April 1929, Page 9

RISING COSTS

' OXFORD UNIVERSITY

A HEAVY DEFICIT.

(From "The Post's" Representative.)

LONDON, 7th iWiary. A serious deficit in the University accounts was reported when the annual financial statement was presented to Convocation at Oxford on AVednesday..

The! Provist of .Worcester, presenting the accounts', said: "The - principal thing about this year is that there is a 'deficit of ..something over £5000, which would have been £15,000 if it had not been for .a.gift of'£lo,ooo. ; The Government grant in 1924 was £60,500, and now it is £85,500, but the increase in expenditure since 1024 is over-.£51,000!"; . . '. ; . '.. . The " .increase from examination fees, dues, etc., was over £4000, but the expenditure under those heads exceeded the increase : by : about £22,000. For .1926-27 the contributions of the colleges amounted to over £21,000. -Under the new statutes, if'- the statutory charges on colleges amounted to more, than the of . their , net revenue would : supply, the University had; to repay the difference. ■This 'year the repayments to colleges had been far more-than was anticipated: :

.". "I ihink' we have not quite got to the end of the inevitable increase in expenditure," the Provist"added.', "When'money has changed :its value: as-it has since the war, it takes a long time for' things to find their level." .■■'..' "; ■

'■ The statutory.commission had made certain changes in the way in which contributions from colleges to', the. common'university fund were calculated, and it seemed probable that they would be less than formerly by some £5000. No one, he thought,'.foresaw the disastrous loss caused to the University this year. "I do not know," he said, "whether there is any hope; that even at this late date the col*leges, which : arc sliowing themselves to be so capably conducted, can do anything to meet this: deficiency."

Messages marked VBrltisli Official Wireless," published in this Issue, are sont out by the liripori.il Affairs Branch of tlio Primo Alinlster's Department oC tho New Zealand Government! .