University of Regina’s 2023-24 budget addresses lingering, pandemic-related, financial challenges
The Board of Governors has approved the University of Regina’s 2023-24 operating budget, which includes setting tuition levels for the 2023-24 academic year.
Most tuition and fees will increase by four per cent beginning in Fall 2023. The University does not take tuition increases lightly and has made every effort to limit them to the level necessary to help cover the rising costs associated with providing quality education, while continuing to make post-secondary education affordable and accessible. The increase will still maintain the University’s comparative position midway among Canadian universities in terms of affordability for domestic students. The U of R continues to be one of the lower-priced institutions for both international and graduate students.
The budget projects revenues of $253.8 million and expenditures of $256.3 million, resulting in a shortfall of approximately $2.5 million, which will be addressed through a recovery of funds from all budget units.
The University continues to recover from pandemic-related challenges such as declines in enrolment and rising inflation, and has taken a conservative approach in estimating enrolment growth in 2023-24. Therefore, most administrative and academic units have been asked to implement base budget reductions of five per cent in response to budgetary challenges.
Cost-saving measures have been implemented in alignment with our core mission of teaching and learning, research, community connection and student support. Workforce adjustments will be kept to a minimum by offering early retirement incentives and reducing the number of vacant positions. No academic programs are being eliminated due to budget pressures, so the impact on our students’ academic experience will be minimal and we will continue to provide strong student supports such as the Student Wellness Centre, Student Mental Health, the Centre for Experiential and Service Learning, investments in transfer credit processing, and the development of more “zero-cost” or open education resources for students.
The University’s 2023-24 budget is predicated on the continued recovery of enrolment among both international and domestic students.
The University notes that international student enrolment has already started to bounce back with a 17 per cent increase in the Winter 2023 term compared to Winter 2022, which has helped improve our financial position. Enrolment projections for the Fall are also showing early, positive signs. However, federal visa-processing backlogs continue to create delays for international students and the University is hopeful these delays will not be further compounded by the federal employees’ strike.- 30 -
About the University of Regina
Set in the heart of the Canadian prairies we are a comprehensive, mid-sized university where the opportunities are as limitless as the horizon. Our campuses are on Treaty 4 and 6 - the territories of the nêhiyawak, Anihšināpēk, Dakota, Lakota, and Nakoda peoples, and the homeland of the Michif/Métis nation. It is our responsibility to strengthen relationships with Indigenous communities to build a more inclusive future for all. Our three federated colleges, 10 faculties, 25 academic departments, and 18 research centres foster innovative research with practical and theoretical applications. We are committed to cultivating the potential of our 16,700 students and supporting their health and well-being. We take learning beyond the classroom through work and volunteer experiences to develop career-ready graduates.
Let’s go far, together.