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UNB achieves balanced budget for 2014-2015

Author: Communications

Posted on Jun 4, 2014

Category: myUNB , UNB Saint John , UNB Fredericton , UNB Homepage

As a result of careful planning and much effort, we are pleased to report that the proposed 2014-15 University of New Brunswick (UNB) operating budget is balanced. 

We have achieved this primarily as a result of a 2% increase in the provincial operating grant, as well as funding now added to the ongoing funding base, increasing tuition fees by the provincial parameter of 3%, generating new revenue from non-traditional sources such as proceeds from the College of Extended Learning and Saint John College, as well as tight management of our expenses. It is important to note that the academic portfolios have been protected in this year’s proposed budget.   

Despite proposing a balanced budget this year, we do expect continued challenges. Revenues in the current economic, fiscal and demographic environment are anticipated to increase by less than 2% per year, while expenses – if not managed - will go up by between 3.5% and 4% per year. 

Like many universities, UNB will continue to be faced with potential funding shortfalls that must be addressed in order to maintain long-term financial sustainability.  We will continue to focus on managing the elements that are within our control.  This involves an increased focus on generating new revenues whether through recruitment and retention, fundraising, additional efforts to communicate the excellent work of our faculty and students, strengthening work-study programs, or increased alumni engagement.  

You can visit our Budget Planning & Reports webpage for an overview of the detailed budgets that have been prepared for university operations, capital activity, spending from university endowments and residence operations. 

With a continued focus on enhancing collegiality, reinvigorating our academic mission and achieving the objectives of our strategic plan, we will create a better UNB.