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April 8, 2025

Planning and Budget Framework

Dear colleagues,

The Board of Governors recently approved UVic’s Planning and Budget Framework, which provides a three-year outlook and our operating budget for the coming year. Consistent with our February update, the Board approved a balanced operating budget for 2025/26 without the need for reductions.

However, like many universities in Canada this year, UVic continues to navigate a challenging and constrained post-secondary landscape. Barring any unforeseen circumstances, and provided we meet our enrolment targets, we believe we can deliver on this budget.

Our budget is underpinned by enrolment targets that are prudent—noting global uncertainty and recent headwinds in our sector—and Faculties and Student Affairs remain focused on recruitment and progression efforts. We appreciate everyone’s dedication and commitment to our education and research mission as we work collaboratively to meet our enrolment targets and navigate the evolving post-secondary landscape.

No new ongoing investments are planned in this budget, apart from government allocations to support approved academic program expansions. We continue to focus on ensuring that we have the resources we need to deliver on our core mission, with a commitment to high-quality academic programming, research and supports, as well as student success, affordability, safety and wellness. At the same time, we will continue to work together on our strategic plans by thoughtfully using the resources we have, as we work towards respecting the rights of one another and being in right relationship with all things.

Looking forward, we will continue to leverage our strengths and reach new learners through in-demand degree programs, professional graduate programs and micro-certificates. Other initiatives to diversify revenue and expand UVic’s long-term financial sustainability include the development of a mixed-use University District and a Comprehensive Campaign. 

We invite you to visit the budget website for more on the Planning and Budget Framework, including key areas of focus for the next one to three years. As well, we will host a budget townhall in May, where we will share detailed budget information with faculty and staff and answer related questions. 

Thank you for your continued commitment to UVic’s mission and success.

Sincerely,

Elizabeth Croft, Vice-President Academic and Provost
Kristi Simpson, Vice-President Finance and Operations