The union representing faculty at Ontario's 24 public colleges says it has put forward another contract proposal in negotiations with the group representing management.

The Ontario Public Service Employees Union is threatening strike action at 12:01 a.m. eastern time Monday.

OPSEU says its proposal calls for the number of full time faculty to match the number of faculty members on contract.

It also calls for improvements in job security and for faculty to have a stronger voice in academic decision making.

The head of the union bargaining team, J.P. Hornick, calls it a fair path to a settlement that is acceptable to both sides.

The College Employer Council said Friday that the union demands for staffing ratios and wage increases would add more than $1 billion in costs over three years.