The University of Victoria’s Board of Governors has approved a balanced 2010/2011 budget framework that, in spite of increasingly constrained resources, funds new graduate and undergraduate programs, increases student financial aid, and expands student support services and the growing needs of research and campus infrastructure.
The 2010/2011 budget framework is based on an operating budget of over $300 million supported primarily through the provincial government operating grant, student fees and other funding sources. The framework provides for an increase of 126 full time equivalent (FTE) graduate student positions.
“This budget framework reflects that a sustained period of government-funded student growth is drawing to a close, but we will still continue to expand in focused areas,” says UVic President David Turpin. “UVic has practised prudent financial management but we do anticipate less financial flexibility in the future due to constrained government revenues, the impact of inflation, and a decrease in income due to slowed student growth.”
New or expanded programs that will come on-stream over the next year include: undergraduate and graduate programs in public health; a creativity program in fine arts; and a master’s program in global business.
As in previous years, the framework contains a two per cent increase in tuition fees. This brings annual domestic arts and science undergraduate tuition to $4,766 from $4,673. Domestic graduate annual tuition rises to $4,950 from $4,853 effective May 1, 2010. This places UVic tuition in the mid-range of Canadian universities.
The framework provides for an additional $800,000 in student financial aid, $100,000 to the library to assist with the cost of its collections and services for new programs, and almost $500,000 to student services to assist with initiatives such as academic support in writing and math, student recruitment, disability accommodation, and a new welcome centre. The improved financial performance of the University of Victoria Foundation and support from UVic will allow the foundation to make distributions from all its endowments.
UVic estimates its total revenue for 2010/2011 to be close to $500 million including continued strong funding from research granting agencies, revenue from ancillary operations and capital funds.
“After several years of significant capital investment, most of this year’s upcoming capital projects involve continuing renovations to our older buildings through the joint federal-provincial Knowledge Infrastructure Program,” says UVic’s Vice-President of Finance and Operations Gayle Gorrill. “Maintaining our aging campus in the coming years will be a challenge due to the funding constraints that we expect will continue in the foreseeable future.” Planning will continue for a new athletics and recreation facility.
