Government & Policy
Highlights of the Alberta Budget, 2005
A quick overview: The Budget, which came down in the afternoon on April 13, sees total spending of $25.83 billion, of which nearly $6.8 billion, or 26%, goes to basic and post-secondary education programs and capital.
Advanced Education receives an overall increase of 13.4%, or $196 million, for a total of $1.6 billion for 2005/06. Over three years, the increase will be nearly 30%, or $433 million, for a total of almost $1.9 billion by 2007/08.
The breakdown includes an increase of 10.3%, or $126 million, in total support to post-secondary institutions for 2005/06. Over three years, total assistance to institutions will increase by 31.2%, or $382 million. This $382 million increase includes an 18%, or $205 million, increase in operating grants over three years (6% per year); $90 million for the Access Growth Fund to achieve the target of 15,000 new spaces in the system within three years; and $19.5 million over three years to support operating costs of post-secondary facilities.
Apprenticeship training will receive a $5.7 million increase for 2005/06.
As previously announced, there is a $43 million one-time allocation to cover the cost of tuition fee increases this year.
$12.8 million is also placed in the Performance Envelope, which rewards institutions for meeting government targets.
After all the fanfare, the Access to the Future Endowment receives ‘only’ $250 million this year, to kick-start the program. (At this rate, it will take a very long time to reach full funding of $3 billion.)
Funding for scholarships, bursaries, and grants will increase by $7.5 million in 2005/06.
Under the 2005/08 Capital Plan, $469 million is earmarked over three years ($111 million this year) to support PSE capital projects.
More details on the Budget are available at http://www.gov.ab.ca/budget2005/.