Board of Governors approves 24th consecutive balanced budget

The University of Regina released its 2018-19 budget today, marking the 24th consecutive year that the University has balanced its operating budget. The total operating budget for the University in 2018-19 is approximately $223 million.

Record enrolment at the University of Regina is increasing the funding contribution by the Government of Saskatchewan, notwithstanding that the base funding to the sector remained flat in the current year.

Research growth, increased revenue generation through innovative programming at our Centre for Continuing Education (CCE), along with cost-saving initiatives such as an energy conservation project expected to save $450,000 annually, are enabling investment.

Restoration of the University’s College Avenue Campus, home to the CCE, helps to protect an important source of revenue for the University. Increased revenue is anticipated as CCE moves into its renewed facilities in 2018-19. CCE’s contribution to the University’s operating budget is projected to be $12.6 million, an increase of $1.7 million over 2017-18.

With more than 15,000 students registered for classes this year, the University saw a 2.9 per cent growth in enrolment over last year. We anticipate additional growth in the coming academic year. In 2018-19, the University will continue to strengthen its academic programming and invest in priority areas such as additional faculty members and support staff in areas of significant enrolment growth.

The operating budget includes investments to support students, such as:

New faculty positions in Social Work, Engineering and Applied Science, Kinesiology and Health Studies, English as a Second Language, and the Department of Computer Science;
Support of the newly-created Master of Health Information Management program;
Expanded counselling services for students;
Funded academic support positions in the Faculties of Arts and Engineering and Applied Science;I
Increased budget for student scholarships (up $275,000 in 2018-19); and,
A two per cent increase in budget for Library acquisitions.
The Board of Governors approved a 2.8 per cent increase to most tuition rates and fees. Although the Board remains mindful of the impact on students, tuition remains below the national average. Additionally, the University ranks second nationally among comprehensive universities in the level of student financial support – scholarships, awards, and bursaries – available as a percentage of tuition.

Throughout the 2018-19 budget process, the University has looked at ways to keep post-secondary education as affordable and accessible as possible. The University has engaged in campus-wide processes to examine program changes, as well as prioritized the elimination of vacant positions where possible and focused on unit restructuring to minimize impact on faculty and staff.

“The University of Regina has long demonstrated a strong commitment to financial stability,” says Chair of the University’s Board of Governors, Cathy Warner. “Serving the needs of our students and strengthening our commitment to teaching, research and community are at the forefront of this budget. I’m proud of the work the University has done to identify efficiencies and seek innovative solutions to generate revenue, and, of course, this good work will continue.”

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Key Facts:

The total operating budget for the University in 2018-19 is approximately $223 million.
The University is experiencing record enrolment with more than 15,000 students registered for classes this year.
New faculty positions are being added to meet student demand.
Tuition remains below the national average.
Tuition rates for graduate students are among the lowest in the country.
The University ranks second nationally among comprehensive universities in student financial support as a percentage of tuition.
Research funding continues to grow; current year funding sits at $26.7 million.
University of Regina graduates experience the best employment outcomes of all post-secondary graduates in Saskatchewan.

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