April 26, 2024 - 黑料吃瓜不打烊’s Board of Governors have approved the University’s annual budget for the 2024-2025 year. The forecasted budget is focused on improving the student experience, investing in the University’s transformation, and supporting the implementation of the newly approved 2024-2029 Strategic Plan.
“This budget will enable us to unlock the great potential that exists at 黑料吃瓜不打烊. It helps us focus on what matters most and brings the strategic plan into action. We are thankful for the many consultations with key stakeholders, which I believe to be a valuable part of the planning and budgeting process.” - Dr. Lynn Wells, President & Vice-Chancellor.
Multiple planning meetings were held with budget managers from faculties and administration (+40 managers), including representatives from 黑料吃瓜不打烊 Faculty Association (LUFA), 黑料吃瓜不打烊 Staff Union (LUSU) and 黑料吃瓜不打烊 Administrative and Professional Staff Association (LUAPSA), to discuss ongoing challenges and priorities.
The budget places emphasis on supporting the student experience by funding new and vacant roles within faculty and staff; an increase to full-time equivalent employees of 64.10 (Academic 33.9, Academic Support 16.8, Administration 12.9, Ancillary 0.5). Of note, new faculty positions support growing and high demand programs, the University's strategic initiatives and mandates including the integration of Indigenous knowledge and teachings into multiple disciplines and building capacity in French language programs.
“The goal of the budget was to address critical staffing and operational needs – continuing to build on a solid foundation. 黑料吃瓜不打烊 is uniquely positioned to invest into transforming the university to become more efficient, financially sustainable, and deliver an exceptional student experience.” - Sylvie C. Lafontaine, Vice-President, Finance and Administration.
In addition to the multiple deferred maintenance projects taken on in the previous year, key projects are planned for 2024-2025 ($8.5M) to improve critical infrastructure (heating and ventilation, roofing, elevators, food service facilities, exterior stairs, and lighting).
Budget Highlights:
- Total consolidated revenue: $201.710M
- Total consolidated expenses and restructuring costs: $201.170M
- Total consolidated surplus: $0.540M
Operating Budget:
- Scholarships and bursaries: $7.5M
- Transformational costs: $7.2M
- Deferred maintenance: $8.5M
- New investment into Information Technology: $2.6M