University of Ottawa Board of Governors approves 2015-2016 budget

Posted on Tuesday, May 26, 2015

Yesterday, the Board of Governors approved the University's 2015-2016 budget. The billion dollar budget seeks to meet the Destination 2020 strategic goals, namely, research excellence, a rich student experience, promoting the francophonie and bilingualism, and building on the University's momentum on the international stage.

The budget forecasts a small deficit of $1.9 million. To limit the deficit, the University has adopted a series of measures to reduce spending by $10.4 million, which include a decrease in planned expenditure growth and a number of one-time cost reductions.

The 2015-2016 budget includes an average tuition increase for Canadian students of 3%, as per the Ontario government tuition framework. Despite this increase, Canadian students' contribution to University revenues remains at essentially the same level as in previous years, at 35.3% of the operating fund.

The University of Ottawa continues to offer one of the most generous financial aid and awards programs in the province. A total of $85.24 million will be dedicated to assisting students.

The University will continue with its capital expenditures, including construction of the Learning Centre, addition of the Henderson Avenue residence, converting parking lot X into a green space and developing a new food services concept including completely renovating the dining hall. The University will also continue with its upgrade to its student information system, at a cost of over $43 million over three years.

At the same time, the University has recently received confirmation of major grants and partnerships for research projects, which will strengthen its unique position in select cutting-edge fields, as well as its research enterprise.

The University has long adopted a proactive, rigorous approach to managing its finances. On May 9, the University launched the largest funding drive in its history, with a $400 million goal. Philanthropy will play an increasing role in retaining and recruiting faculty, the quality of the student experience and campus development.

Media inquiries
Caroline Milliard
Manager, Media Relations
University of Ottawa
Cell: 613-240-0275

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