Faculty and staff at Queen's University in Kingston, Ont. are expressing concern about the institution's future amid its troubling financial situation and budgetary pressures. 

Last week, the university's main student-run newspaper, the Queen's Journal, reported on a "chaotic faculty town hall meeting" in mid-December that addressed concerns regarding cuts to the school's academic programming as well as its projected operating budget deficit. 

According to the article, provost and vice-principal, Matthew Evans, who is the university's chief academic, budget, and operating officer, said that the university is expected to "exhaust its reserve funds by 2025-26," with the Faculty of Arts and Science (FAS) running out of funds as early as 2024 if cuts are not introduced. 

"This is very, very serious. Queen's could cease to exist if we don't deal with this issue," Evans said. 

"I'm concerned about adjuncts and other people who are in a precarious position, but I'm concerned about the survival of this institution. Unless we sort this out, we will go under." 

According to the student-run newspaper, leaked documents show that certain undergraduate courses in the FAS with less than 10 students next year and graduate courses with less than five students in 2025-26 will be cut.

In a letter to students at the end of November, the university confirmed its financial troubles, writing that the deficit required immediate action. 

"It is true that the university is facing significant financial challenges. Costs have exceeded revenue to an unsustainable level, with an operating budget deficit for the current fiscal year 2023-24 initially projected to be over $62 million. This is ten percent of our total operating budget of slightly more than $600 million," the letter reads. 

"It will take significant efforts from faculties and shared service units to reduce costs and reach a balanced budget within the next two years. Immediate pressures require us to take immediate action. We must also look to build a long-term future for Queen's that is fiscally sustainable.”

In discussions with Evans, as well as the FAS Dean, Barbara Crow, concerned students have referenced a Morningstar report from May, which stated that the university was in a "strong financial position" to deal with budgetary pressures. 

According to the Queen's Journal, Evans maintained that at least six other institutions received similar ratings despite those also now facing financial challenges. 

Evans also reportedly stated that while staff layoffs are not currently planned, they are "highly probable," with Crow noting that the faculty has not approved several contract renewals.