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U of R Budget is Approved

Updated on May 5
Tags: students, all updates

The total operating budget for the University includes revenues of $237.3 million against expenditures of $240.8 million. A temporary shortfall is a direct result of the ongoing financial pressures related to the COVID-19 pandemic. Anticipating revenues begin returning to pre-pandemic levels next year, the University will absorb the 2021-22 shortfall through a one-time adjustment to its standard carry forward mechanism.

Following the Government of Saskatchewan’s 2021-22 provincial budget announcement, which included stable multi-year funding for the province’s post-secondary institutions as well as an injection of non-base funds over the first two years, planning for a more financially sustainable future is underway. In particular, the University will soon develop a process to identify and implement projects or initiatives that generate new revenue streams or enable greater efficiencies.

The University remains on relatively stable footing, particularly in relation to other post-secondary institutions across the country. However, we are challenged as costs continue to rise due to salary and benefit increases, tax hikes, and other inflationary pressures. We also recognize the need to invest in our institution to remain competitive with other Canadian post-secondary institutions.

As part of the budget approval process, the Board approved a four per cent increase to most tuition rates and fees for 2021-22. The University’s commitment to keeping post-secondary education accessible and affordable for students is demonstrated by a total tuition and fee structure that continues to place us midway in comparison with other Canadian institutions in total cost to undergraduate students and at the bottom (lowest cost) for tuition and fees for graduate students in Canada. The four per cent increase provides us the ability to avoid cuts to programming, maintain the high-quality teaching and research we offer today, as well as provide students with access to much-needed services, such as mental health resources.

Learn more about the U of R Budget