The Mona campus of the University of the West Indies (UWI) says by next year, it will be financially sound.

Principal, Professor Archibald McDonald, made the declaration in a recent interview with NewsTalk 93FM.

The UWI, Mona campus has been experiencing significant financial challenges in recent years largely due to rising operating costs, problems with tuition payments and the cuts in the government subventions.

However, Professor McDonald, who just completed his first year as head of the campus, says he has identified solutions to those problems which will make Mona financially sound in 12 months.

So dire was the UWI, Mona’s financial problems, that after the Jamaican government cut subventions by 20 percent in 2010, Trinidad and Tobago's Prime Minister, Kamla Persad-Bissessar, pledged to fund programmes and research projects.

At the time, she said her government would be doing all it could to sustain the institution.

It is not immediately known if the pledge was fulfilled or the level of support given.

More than 15,000 students attend the UWI, Mona.

The institution employs about three thousand persons.

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