Printing Services saw an operating deficit of $385,000, drastically lower than the budgeted surplus of $43,000, according to a report.
The report, made by York VP Finance and Administration Gary Brewer to the Board Finance and Audit committee, revealed that the deficit incurred in the 2012-13 fiscal year was even higher than last year’s $318,000. This is a decline by $1 million, representing a 38.3-percent fall in revenue.
Nonetheless, Brewer insists that overall, printing services remain in a cumulative surplus position.
“While we recognize that due to declining revenues, there have been financial challenges with Printing Services in the last two years, they remain in a cumulative surplus position,” he says.
Brewer explains the ancillary operations play a substantial role in supporting the academic mission of the university and the student community, but naturally, there remains a need for them to be self-sustaining over time.
“Over the coming year, a strategic review of Printing Services will be undertaken to look at its long term direction,” says Brewer. “This will be similar in principle to the review we undertook two years ago of our housing operations, which had been experiencing decreased occupancy rates.”
The housing review the university undertook resulted in a new 10-year housing strategy that led to a 99-percent occupancy rate in the undergraduate residences.
A study of the future of an internal printing service is in progress and decisions will be required in 2013-14 to determine if this service is sustainable in the longer term.
Additionally, Mr. Brewer assured the university is also in the midst of a similar strategic review for food services, which is expected to yield similarly successful results.
This is the second consecutive year of declines in revenue for printing services caused by decreased course kit volume production, university copyright changes, and associated outsourcing of printing and payment of royalties.
Mishaal Sinha
Staff Writer
