2017-18 budget framework approved

The Board of Governors approved a $356-million balanced operating budget at its March meeting for the University of Victoria’s 2017-18 fiscal year.

The three-year Planning and Budget Framework outlines the university’s commitment to quality enhancements including student and faculty supports in order to further build on excellence in education. Within the context of a financially constrained environment, UVic will also focus on key strategic initiatives including implementing UVic’s first Indigenous plan, renewed International plan, first Strategic Research Plan and the updated Campus Plan.

Enhancing quality and anticipating and meeting demand for programs remains a continuing focus in supporting students in and beyond the classroom. Central to attracting and retaining the very best students includes a commitment to scholarship programs for both undergraduates and graduates in an increasingly competitive environment. To support student success, the budget provides additional resources for students in mental health, advising and counselling services, as well as health services including services for students with disabilities. Modest increases to the faculty complement are included in the budget as well as enhanced supports and resources in the Learning and Teaching Centre particularly around supporting faculty and academic units as they further indigenize and internationalize curriculum.

In keeping with the university’s mission, 80 per cent of the total operating budget is allocated to academic areas including faculties, research, library, student financial aid and student services. After addressing annual requirements to cover compensation, contractual, regulatory requirements and the recommendation of the interim report on sexualized violence, the budget allocates $2.2-million towards academic priorities in the faculties; academic accommodation services; Canada Research Chair institutional support; Strategic Research Plan implementation; inflationary and exchange rate pressures for library acquisitions; employee return to work program; reputational advancement; technology systems support; and a renewal of the office of Equity and Human Rights, including further support for sexualized violence initiatives.

As a publicly supported research university and consistent with Ministry of Advanced Education policy, domestic student tuition fee increases at UVic are limited to two per cent. For the coming year, international tuition fee increases are decoupled from domestic fees in order to ensure fee changes reflect approximate inflationary costs. As provincial funding does not support international students, UVic has a responsibility to ensure that international students pay the full cost of their education and contribute positively to the university’s long-term financial stability. With this approach, international tuition fees will increase by four per cent as of May 1, 2017 reflecting a pro-rata share of inflationary costs.

To address affordability concerns, and consistent in approach with UVic’s needs-based bursary program, the budget also provide for an additional $50,000 for international student financial aid, which represents a 10 per cent increase over current bursary funding. A further increase in bursary funding will be considered, if required. After the four per cent increase, international tuition fees will continue to be lower than most peer BC and Canadian universities. For 2018/19, the university is reviewing both undergraduate and graduate international fees. This review will include consultations with students and others to understand the potential impact of increased tuition fees and the types of support services critical to student success.

Ancillary services are revenue-neutral and operate on a cost-recovery basis. For 2017-18, fee increases include an increase of six per cent in student housing fees; five per cent in residential meal plans; three per cent in parking fees; a three to four per cent increase in child-care fees; and a two-per-cent increase in athletic and recreation fees. The student housing fee increase is in the third year of a 10-year financial plan required to address deferred maintenance in the residences. At the end of the plan, UVic’s average costs for residence fees are projected to be 14 per cent below average costs at other universities. For 2017-18, a total of $5.2-million will be invested in major renovations for the McGill residences and Lam family housing, along with various minor renovations to repair or replace carpets, paint, stairs and furniture.

For further information please read the 2017-18 Planning and Budget Framework document.