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UNB Board of Governors approves 2019-20 budget

Author: UNB Newsroom

Posted on Apr 29, 2019

Category: UNB Saint John , UNB Fredericton

The University of New Brunswick’s Board of Governors has approved the university’s 2019-2020 budget.

“There are many encouraging elements to the 2019-20 UNB budget that represent a continuation of the plan to balance the operating budget by the 2020-2021 fiscal year,” says Dr. Eddy Campbell, UNB president and vice-chancellor. “We are focused on continued investments in our academic mission and research.”

The 2019-20 UNB budget was approved with a structural deficit of $2.4 million, which has been balanced with the use of one-time internally restricted net assets. This is in accordance with the UNB Board-approved plan to have a balanced budget for the 2020-21 fiscal year.

UNB is projecting an overall revenue increase of 3.2% in the operating budget, while overall expenses see an increase of 1.8%. This is the second year in a row that budgeted revenue growth exceeds expense growth. Enrolment is also expected to grow once again this year, with a projected 2.6% enrolment increase for the fall 2019 term.

Details of the budget include:

  • A one per cent increase in the provincial operating grant for 2019-20, as outlined in the memorandum of understanding UNB signed with the Government of New Brunswick in 2018;
  • UNB has increased undergraduate tuition by two per cent for existing students. Most graduate tuition rates are also increasing at a rate of two per cent. The international student differential fee has increased by three per cent which is the same as in the prior year.
  • UNB will be adopting a differential tuition model for undergraduate programs beginning in 2019-20 that will see tuition vary by program;
  • More than $20 million allocated for capital projects, including $7.6 million for UNB Fredericton’s residence renovation project and $950,000 to increase energy efficiency at UNB Saint John.

UNB is reviewing how recent post-secondary education changes announced by the provincial government will affect New Brunswick students. Part of these changes include the termination of a 14-year funding agreement for nursing programs at UNB and the Université de Moncton.

“We continue our attempts to negotiate a fair funding arrangement and advocate for our community about the importance of transparency and consultation in government decisions affecting post-secondary education,” says Dr. Campbell.

Three active budget committees provided input on the budget process and decisions from September through to completion in April. The budget oversight process ensures budget options and choices are reviewed and analyzed before the final proposal is brought to the Board of Governors for consideration and approval.

“Although it is a challenging time for universities across the country, including UNB, we are confident we will continue to work together towards achieving our strategic goals and building a better UNB and a better New Brunswick,” says Dr. Campbell.

See detailed information for the budget year, including university operations, capital activity, spending from university endowments and residence operations.

Media contact: Natasha Ashfield