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2017-2018 Budget Primer
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Agenda
- Introduction
- UW Financial Basics & Other Statistics
- Multi-Year Budget, Strategic Direction and
IARP
- Discussion and Feedback
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2017-2018 Budget Primer 1 Agenda Introduction UW Financial - - PowerPoint PPT Presentation
2017-2018 Budget Primer 1 Agenda Introduction UW Financial - - PowerPoint PPT Presentation
2017-2018 Budget Primer 1 Agenda Introduction UW Financial Basics & Other Statistics Multi-Year Budget, Strategic Direction and IARP Discussion and Feedback 2 3 4 5 Source: Statistics Canada, Centre for Education
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Source: Statistics Canada, Centre for Education Statistics, 2015
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Undergrad Tuition Structure (16-17)
- Domestic
– Level 1 (generally Arts, Education, Business) $340.50 per 3 cr hr course – Level 2 (generally Science) $391.95 per 3 cr hr course
- International
– Arts $1,268.7 per 3 cr hr course – Business $1,575.75 per 3 cr hr course – Kinesiology $1,351.05 per 3 cr hr course – Science $1,516.50 per 3 cr hr course
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Source – 2014 MacLean’s University Rankings
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Demographic trends – 18 year-olds
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Source: Higher Education Strategy Associates
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Total Core Operating Budget $125 Million
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Total I&R Budget $ 61 million
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Structural Deficit (2016-2017 example)
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Moving Forward
- Ongoing deficits are not sustainable
- Requests for additional funding have been
heard and Government committed to providing some additional funding, but less than we requested and need
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Moving Forward
- Three year budget informed by strategic
direction approved by Board in January 2016
- Focus on themes from strategic directions
document
- Will be updated in 2017
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Three Year Budget Strategy
- Maintain enrollments and staffing at current levels
- Review operations to ensure effectiveness and efficiency
– Reduce reliance on Vacancy Management
- Reduce Administrative costs by $500,000
- Increase revenues from revenue generating units
(UWCRC, Foundation, PACE, ELP, etc…)
- Voluntary Transition to Retirement Program
- Improved Student Retention and focus on student
success
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Conclusion
Questions / Discussion
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