Ottawa, May 28, 2019 – Yesterday evening, the Board of Governors of the University of Ottawa approved the institution’s 2019–2020 budget. The budget includes a deficit, in order to preserve certain assets and allow the University to maintain its momentum.
The operating budget for the fiscal year that started May 1 will include a deficit of $17 million, which will be offset in part by surpluses built up in previous years. The major 10% cut in tuition fees announced by the provincial government earlier this year represents a $33 million shortfall in 2019–2020. Each year, the University must also absorb additional costs to fulfill its mission and offer a high quality education in French. This represents a shortfall of $30M.
The budget presented to the Board of Governors is accompanied by a three-year plan to reach a balanced budget by 2021-2022. Any surplus realized during the 2018-2019 fiscal year, which ended last April 30, will be allocated as a first priority to balancing the budget over the next two years. This will allow the University to sustain its efforts, and even accelerate the implementation of institutional initiatives, while implementing without disruption the strategic orientations that will guide the University by 2030.
In addition to financial constraints, the University of Ottawa, like all Ontario universities, must deal with the ongoing decline in the number of Canadian students, and the cancellation of some provincial grants for capital projects at a time when our facilities are in dire need of major investments.
Nevertheless, the University of Ottawa remains a research-intensive institution ranked among the best in Canada. The University community is dynamic, engaged and diverse. Nearly 43,000 students pursue postsecondary studies in a bilingual environment, while the University’s excellence in research is continually bolstered, and its campus is among the most stimulating and welcoming.
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