2022-23 budget charts a course for pandemic recovery at the University of Regina

News Release Release Date: May 5, 2022 10:01 a.m.

Late last week, the University of Regina’s Board of Governors approved the institution’s 2022-23 operating budget which will include revenues of $245.3 million against expenditures of $248.7 million, resulting in a projected, structural shortfall of approximately $3.5 million.

To manage the shortfall, the University will reduce base budgets in faculties, departments, and administrative units by an average of 2.7 per cent for the coming fiscal year.

Despite a safe and successful return to in-person classes and operations in Winter 2022, the University continues to face significant financial pressures related to the ongoing COVID-19 pandemic. 2021-22 saw a notable decline in international student enrolments – largely attributable to international travel restrictions and visa processing – along with a smaller, but still significant, decline in domestic student enrolments. This led to a reduction in tuition revenue as well as in ancillary revenues such as on-campus housing, food services, and parking that will extend into the next fiscal year.

The approved budget also includes a 3.5 per cent increase to most tuition rates and fees beginning in the Fall 2022 term. This increase is comparable to – or in many cases lower than – those of other western-Canadian post-secondary institutions and continues to position the University of Regina mid-range among Canadian universities in total cost to undergraduate students (36th of 59). The University also continues to offer one of the lowest cost tuition and fee packages for graduate students in Canada (4th of 43).

The University of Regina recognizes the financial pressures facing students and is taking action to address them. For the first time, the University will introduce a bundling program for international students which will allow for a freeze in their tuition and fees at first-year levels as well as discounted amenities such as campus housing. (see attached Backgrounder)  

The University of Regina also continues to rank near the top among Canadian comprehensive universities in the funding it returns to students in the form of scholarships and bursaries. Additionally, the University has taken significant action to ease financial pressures on students, including:

  • Establishing Project Resilience – a scholarship fund to assist students from war-torn countries to come and study at the U of R;
  • Increasing the level of base scholarship funding in the current budget by $181,000;
  • Making it quicker and easier for students to transfer credits from other post-secondary institutions, saving them an estimated $18.3 million in tuition over the last five years;
  • Expanding the number of courses that feature Zero-Cost Materials or Open Education Resources, thereby saving students money on course materials; and,
  • Creating more employment opportunities for students at the University of Regina.

“From an operational perspective, the 2021-22 fiscal year posed a variety of challenges for the University,” said Dr. Marlene Smadu, Chair of the Board of Governors. “In the face of financial shortfalls, the University has demonstrated its commitment to sustainable and responsible financial management by focusing on its core purposes; high-quality research, student-centred teaching and learning, and enhanced supports and services for students such as the new Student Wellness Centre.” 

While operating budget deficits are anticipated to continue in the short term, the University of Regina expects to return to a balanced operating budget position by 2024-25.

 

About the University of Regina

The University of Regina—located on Treaty 4 and Treaty 6 territories, the ancestral lands of the Cree, Saulteaux, Dakota, Lakota and Nakoda nations and the homeland of the Métis—is a comprehensive, mid-sized university that traces its roots back to the creation of Regina College in 1911. Today, more than 16,000 students study within the University's 10 faculties. The University has an established reputation for excellence and innovative programs that lead to undergraduate, master’s, and doctoral degrees.

 

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