University of Regina approves balanced 2012-13 budget
News Release Release Date: May 8, 2012 3:11 p.m.
The University of Regina's Board of Governors has approved a balanced budget of $177.7 million for 2012-13.
The budget reflects efficiencies, retains money to support research, provides more money for student scholarships and invests in support of Aboriginal students. Highlights include:
- The base provincial grant for the University of Regina for 2012-13 increased by $1.77 million (1.88 per cent).
- Most undergraduate tuition rates are increased by 4 per cent. Tuition rates for undergraduate Engineering and Applied Science, Business Administration, and most graduate programs are increased by 9 per cent. With these tuition changes, costs to students will remain among the lowest for English language universities in Canada.
- A restructuring of the tuition and fee regime results in a single charge to the student, differentiated by program. This has been done to provide more transparency for students and parents, predictability and equity, and administrative efficiency.
- Budget reductions of 3 per cent or more have been required from budget units for a total budget reduction across all units of $3.4 million.
The budget also contains $12.5 million for investing in capital of which up to $2.5 million will be spent on the planning and design of the student housing/child care/parkade project, $2.84 million for other major capital projects such as roof repairs, road construction and ventilation upgrades, $2.35 million for other plant renovations and adaptations, $1.3 million for equipment replacement, and $3.4 million for debt repayment related to recent capital projects.
Paul McLellan, Chair of the University of Regina Board of Governors, said the University's strategic goals and objectives underpin the budget and commended the administration for managing through the process while dealing with some significant challenges and remaining one of the most affordable English language universities in Canada. Total revenue from tuition and fees accounts for about 33 per cent of the University's operating budget.
"Although there has been a shortfall of nearly $4 million to the University's available funds, efficiencies have been found to continue to invest in areas of strength, and maintain the quality programming and facilities that everyone has come to expect," said McLellan. "This 18th consecutive balanced budget demonstrates we remain committed to our students, faculty and staff. The University of Regina is fast becoming the destination of choice for students from Saskatchewan and around the world."
In addition, the Government of Saskatchewan has provided funding totalling $1.18 million through the University's Saskatchewan Innovation and Opportunity Scholarships, a matching funds program to assist post-secondary institutions to fundraise student financial support.
"The University of Regina is a welcoming, student-focused institution that combines deep-rooted values with innovative thinking, classroom theory with real-world practice, and global ideas with regional needs," McLellan said. "The budget demonstrates we will continue the efficient, provident and sound financial management that the public has come to expect."
For more information please go to the University of Regina's Strategic Plan mâmawohkamâtowin: Our Work, Our People, Our Communities, at http://www.uregina.ca/home/strategic/theplan/.
To view the comprehensive budget plan online, visit: http://www.uregina.ca/orp/budget.shtml.
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