An annual shortfall of $44 million at the University of Saskatchewan will lead to another round of cuts according to the school's vice-president of finance and resources.

Support staff and programs have already been cut and the university's Kenderdine Campus at Emma Lake, Sask., has been closed, but Greg Fowler said there are more cuts to come.

"It's the way the numbers work out," according to Fowler. "We're going to just stop doing some things, and these are things that we will find difficult to stop ... things that we'll cherish, but we will have to stop them."

The university also has a crumbling infrastructure that will cost half a billion dollars to repair, Fowler noted, adding the province contributes $14 million a year toward fixing it.

Considering Saskatchewan is enjoying economic growth, Tracy Marchant, a  biology professor, said she's frustrated by the situation.

"The university is a major economic engine," said Marchant. "By cutting the university, or limiting the university to this very narrow budget, I think it's going to have significant negative impacts on the economic engines of say, the city of Saskatoon."

Marchant said students will also be affected by the shortfall.

"We will see higher costs for students no doubt about it," said Marchant. "The easy thing to do when you're faced with a budgetary shortfall is to cut a student service."

University staff tell CBC News they are bracing for deeper cuts in the new year.