HST means net gain for university

CPA Staff

The impact of the Harmonized Sales Tax on the university's financial activity will not be as costly as might have been expected, according to information supplied by Dennis Huber, Waterloo's vice-president, administration and finance.

In fact, the annual net effect for Waterloo, across all funds, will be a saving of roughly half a million dollars. Much of this saving will come in the form of partial rebates to the university on both the federal and the provincial components of the HST: under the old system, there were rebates only on the GST.

In a report drafted last December, the Council of Finance Officers of the Council of Ontario Universities (COU) evaluated the potential impact of the HST on the COU's member institutions, based on figures supplied by all but one of the members. The report estimated that Ontario universities collectively would save slightly more than $12 million when the HST went into effect. Most of the savings would appear in operating funds, which pay salaries, benefits, and ongoing expenses.

The picture for research funds will be more complicated. Under the old system, purchases of research equipment were exempt from the PST. That exemption is now gone. The partial rebate on the provincial portion of the HST will not offset the loss of the exemption. Based on 2008/09 research expenses, the additional cost to research grants would amount to $149,000.

Where the HST will cost universities the most, according to the COU report, will be in capital funds - money spent on building projects. This is because the cost of labour (a large part of any building budget), which used to be exempt from the PST, will now have the full HST added. The projected cost increase for UW is $1.6 million, a figure that reflects the number and size of the construction projects underway.

To sum up, the universities that will lose most (or gain least) because of the HST will be the ones that are growing vigorously, with new buildings going up and more researchers buying new equipment.

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New website for Athletics and Recreational Services

The Department of Athletics and Recreational Services is launching its new website today.

The site is powered by Internet Consulting Services (ICS/Sidearm sports), the number one provider of collegiate athletic websites.

“We are very excited about the improved functionality and user-friendly interface provided by this new website.” says Athletic Director Bob Copeland. “Delivering content electronically has become increasingly important and we are excited to offer this enhanced communication platform for our students and fans of Warrior Athletics and Campus Recreation.”

Up to date varsity athletics and campus recreation information will be available through one webpage and will no longer require navigation between different sites.

The new look will give Athletics an updated design and a more interactive, user- friendly experience to their online home, which will still be accessible at www.gowarriorsgo.ca

New features include:

• UW Athletics and Recreational Services facility video featuring campus rec and varsity opportunities
• Social media connection (Twitter/Facebook/YouTube) at the click of a button
• Countdown to special events
• Text message updates
• Interactive polls
• Video content
• Warrior Photo Galleries
• Live Game Stats
• Events & promotions schedule
  

The new features will not come at the expense of content that users have become accustomed to seeing at the current incarnation of www.gowarriorsgo.ca, including Campus Recreation special events and tournaments, Warrior Xtra and the Warrior E-Scores newsletter, links to Warrior videocasts, links to purchase Warrior Wear, and updated news, schedules, results, rosters, and other statistics.

According to a statement from Athletics, the department "looks forward to its partnership with ICS and providing a clean and effective website for all Waterloo students and fans."

Look for the new site to go live late in the afternoon today.

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Waterloo Region's Vital Signs 2010

The time has come once again to help take the pulse of Waterloo Region. The Kitchener and Waterloo Community Foundation along with the Cambridge and North Dumfries Community Foundation have launched Waterloo Region's Vital Signs 2010, an "annual check-up that measures the vitality of our Region, identifies significant trends, and with your help, assigns grades in 11 key areas critical to Waterloo Region's quality of life."

As part of Waterloo Region's Vital Signs, the community foundations are also monitoring the progress of the 10 Knowledge Capital goals launched by president David Johnston almost four years ago. Johnston has repeatedly praised the community foundations for "taking the torch," thanking the directors of the two foundations, Rosemary Smith and Jane Neath, "for all their hard work and willingness" to compile metrics for the goals.

Vital Signs began as a project of the Toronto Community Foundation in 2001. Since its launch nationwide in 2006, Vital Signs has relied on community feedback in a wide range of categories including Arts and Culture, Belonging and Leadership, Environment, Gap Between the Rich and Poor, Getting Around, Getting Started in Our Community, Health and Wellness, Housing, Learning, Safety, and Work. Waterloo Region has been a participant in the national project since 2007. This year, 15 community foundations across Canada will be a part of the Vital Signs initiative, up from 14 in 2008 and six in 2006.

According to the KWCF's memo, the survey will "only take 15-20 minutes of your time, but the impact of your contribution will last for years to come."

The survey will be online until 4PM on Monday, August 23.

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