In response to a decline in government contributions to its operational budget, the University of the West Indies (UWI) is appealing for full ownership of land leased to its campuses.
Vice-Chancellor Professor Sir Hilary Beckles stressed the importance of land ownership to the university’s long-term financial plan, noting that UWI’s ability to diversify its revenue streams is limited by its inability to use these lands as collateral.
“All we’re asking now is to untie our hands. Transfer these lands on which we operate to the university freehold so we can have that asset value on our balance sheets. We can go to the banks, we can go to the private sector, we can enter into commercial operations, and we have some collateral to create some diversity of financial arrangements for our longer-term sustainability.”
The contribution of regional governments to the university’s operational budget has dropped to less than 50 per cent.
Sir Hilary informed the recent council meeting in Trinidad that for the past 77 years, UWI campuses have operated on leased lands, albeit at minimal cost, but said it is time for a more progressive arrangement.
In contrast, he highlighted the model used in North America, where many universities benefit from “land-grant” systems, receiving land from the government at the time of their establishment. He cited Cornell University, where he serves as a professor at large, as an example.
“We have done the heavy lifting,” he said. “We have taken this university from a small little university to a global elite university as proof of our responsibility, as proof of our intergenerational leadership. We have demonstrated evidence overwhelmingly that we can manage our affairs.”
The vice chancellor revealed that UWI has already written to regional governments on the matter and remains open to collaborative arrangements where the countries maintain some level of input. (BT)
