Building our future part I: 2017-18 budget

By Andrew Simpson, VP Finance & Operations

UBC’s budget for 2017/18 was approved by the Board of Governors on Thursday, April 12. The financial projections it contains reflect both the challenges of maintaining our ongoing activities, while building for our future.

The budget for the year ahead is fiscally balanced, and makes new allocations for a wide range of priorities. For example, the Excellence Fund, established last year, will continue to build capacity and is projected to make significant injections of resources into new faculty, research, learning, student support, and diversity.

I want to thank everyone across UBC for your work on this budget, and your thoughtful and disciplined approach to the management of our financial resources. For your reference, the Budget report is available on the VP Finance & Operations website and we will also soon be communicating some of the highlights.

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I recently returned from a week of meetings and visits with a number of leading UK, Australian, and New Zealand universities. These meetings reminded me that we share a common purpose and mission, and that our challenges are also shared.

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As many will know, UBC is in the process of implementing a comprehensive benchmarking study of the activities and services which support our academic mission, called ‘UniForum’.

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Budgeting to enable renewal

Overall, the University has achieved a positive financial base for the future—despite many of the challenges we face in meeting the growing costs of our teaching, research, and support activities. It is pleasing to see the wide number of new initiatives across the campus that will be newly resourced in the year ahead.

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