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February 24, 2025

Dear colleagues,

We are writing to provide an update on our enrolment and budget outlook for the 2025/26 academic year.

Following two years of difficult budget reductions, we continue to navigate a challenging and evolving post-secondary landscape. Across the country, colleges and universities are facing financial pressures, with many announcing budget cuts in response to declining international enrolment revenues, rising costs, and other external factors. UVic is not immune to these challenges; however, the measures and approaches we have implemented in the past few years have significantly enhanced our financial stability and outlook.

Achieving a balanced budget will depend on us meeting our student enrolment targets for the coming year, which are essential for maintaining the tuition revenue that sustains our academic, research and support operations. Our enrolment and contingency plans are prudent, and we believe also realistic provided we continue to collectively focus our efforts on student recruitment and retention. If we meet our targets, a balanced budget can be achieved without the need for budget reductions and with continued support from the provincial government.

To position ourselves well for the future, we will continue to focus on long-term financial sustainability, including through revenue diversification and focusing on our core academic and research mission. At the same time, we will enhance our partnerships, pathways and collaborations with other post-secondary institutions in British Columbia and across Canada—reaffirming UVic’s role as a leading research university and our commitment to strengthening the sector.

Thank you for your ongoing dedication and contributions to our university community. It is through our collective efforts that we are positioned for resiliency during these uncertain times. We will provide another update in April following the Board of Governors’ approval of the Planning and Budget Framework.

Sincerely,

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

Read the April 2025 budget update from the VPAC and VPFO.