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Home » University News

Budget update – Feb. 28

Submitted by on 2020/03/04 – 8:30 am

Yesterday, the 2020 Provincial Budget Plan was released, which confirmed our grant allocations for 2020/21. We learned more about the outcomes-based funding model being implemented through Investment Management Agreements that will be established between the Board of Governors of each post-secondary institution and the Minister of Advanced Education, effective April 1, 2020. In addition to performance measures with established targets, these agreements will include an expenditure reduction target for 2020/21 and the following two years that have implications for our budget planning.

Over the next week, we will do a full analysis on the targets set out in our Investment Management Agreement, and the grant information received, to determine the impact to our 2020/21 budget planning. We do acknowledge this will have impacts on all members of the university community and difficult decisions will have to be made to balance the budget, including reductions in staffing levels.

We have a meeting with the Ministry of Advanced Education on Monday afternoon to discuss our Investment Management Agreement, including the expenditure reduction targets. This will be followed by a meeting with the Board of Governors on March 5 to present and discuss implications and options.

Our plan is to proceed with town halls on the noted dates and share what we can about the budget and the impacts to students, faculty, and staff. To ensure that everyone can attend there will be two town halls on Monday, March 9:

  1. 11:30 a.m. – 12:30 p.m.
  2. 2 – 3 p.m.

Both sessions will take place in the Kule Lecture Theatre (Room 9-323, Robbins Health Learning Centre).

Following the town halls, a summary of the presentation will be made available to those not able to attend. As always, your patience throughout this process is appreciated. I acknowledge that there is significant frustration with the lack of information on what comes next. There is complexity in the budget announcement and the outcomes-based funding model that we must clarify before sharing more information.

We will continue to provide timely, transparent information with you as we have confirmation and clarity on our budget plan.

John McGrath
Acting President