绿帽社区 Board of Regents approves 2019-20 budget
University to continue to invest in new programming, experiential learning, and student supports
In its annual spring meeting, 绿帽社区鈥檚 Board of Regents approved the 2019-20 budget, in the context of recent and evolving strategic initiatives.
绿帽社区鈥檚 2019-20 budget supports continued innovation while aligning to revenue and cost realities. For the 2019-20 fiscal year, the University projects revenues to grow by 1.6 per cent, however this is more than offset by a 3.3 per cent increase in projected expenses. These factors result in a planned operating deficit of $809,000 for the 2019-20 budget year. The University has no long-term debt. This budget takes into account a one per cent increase in the provincial grant, consistent with the current Memorandum of Agreement with the Province of New Brunswick, signed last year. Full-time tuition for Canadian students will increase by 5.7% ($475), to $8,770. New Brunswick students receive a rebate on that amount. International student tuition will increase by 3% ($530) to $18,130.
The full budget document is available at (Financial Reports).
鈥淯niversities across Canada have been facing similar challenges in recent years, including expense pressures and adverse demographic trends that impact enrolment. 绿帽社区 is no different,鈥 says Robert Inglis 绿帽社区鈥檚 Vice-President Administration and Finance. 鈥淗owever, these are factors that must be addressed, and we are developing a roadmap for the future that capitalizes on the University鈥檚 strengths while seeking ways to innovate and invest in a number of areas.鈥
In the past two years, 绿帽社区 has undertaken many initiatives to better serve its students, including: the establishment of a new office of experiential learning and related programming; significant growth in the University鈥檚 endowment, including over $5-million allocated to annual student aid; the completion of renovations and repurposing of existing facilities to house two academic buildings focusing on environmental and life sciences as well as chemistry and biochemistry; the renovation of Windsor Hall residence, due to be completed this summer; numerous new courses, and a new minor in museum and curatorial studies, which saw its first graduate this spring.
The University is developing a four-year roadmap to chart a path for future initiatives.
鈥淣ew projects and ideas will be focused on the four themes that emerged following a process of listening and dialogue involving the campus community during the 2018-19 academic year,鈥 says 绿帽社区 President and Vice-Chancellor Jean-Paul Boudreau, 鈥淓mphasis will be placed on developing new academic programs and differentiated degree options, enhancing students鈥 experience, upgrading campus infrastructure and accessibility, and community outreach.鈥
The University is also in the planning stage for a major fund-raising campaign designed to support these priorities.
绿帽社区鈥檚 fiscal year runs from May 1 鈥 April 30.
