The Board of Governors has approved the University of Regina's 2024-25 budget.
This year's projected operating budget is balanced, with revenues and expenditures each totalling $283.1 million. After three years of deficit budgets, the University is now in a position to reinvest in strategic priority areas that enhance the student experience, such as: mental health supports, scholarships and awards, learning resources, additional faculty positions, and classroom and equipment renewal.
"I am extremely proud of all members of our University community, who have worked diligently to recover from the fiscal challenges brought on by the pandemic over the past few years," said U of R President and Vice-Chancellor Dr. Jeff Keshen. "This budget puts the University on solid financial footing over the next year as we look forward to celebrating our 50thanniversary, work to advance teaching and learning, amplify our research impact, and support the health and wellness of everyone who studies, teaches, works, and lives at our University."
In 2024-25, tuition and fees will increase by four per cent for graduate and undergraduate programs. Inflationary pressures require an increase in order to ensure we have the flexibility to continue providing high-quality programs, services, and supports for our students.
"The University takes any increase to tuition very seriously and works hard to find the right balance in developing our budget so that we can provide a high-quality post-secondary education and experience to our students while remaining affordable," said Keshen. "This budget achieves that balance and allows us to reinvest in the programs and services that directly support and benefit students."
Investments in new faculty positions across a wide array of programs will further position the University of Regina as a compelling, post-secondary option for students from around the world and right here in Saskatchewan. To continue supporting the world class research taking place at the University of Regina, the budget is also making significant investments in areas that directly support researchers and graduate students.
This is the final year of a four-year agreement with the provincial government that provided stable funding over the term of the agreement. In the March 2024 provincial budget, $2.4 million in one-time funding was provided to the University and these funds have been allocated to address investment requests from faculties and administrative units.
The University is continuing discussions with the province on a new multi-year funding agreement.
