2022-23 University Budget Â
69³ÉÈ˵çÓ°Íø’s Board of Regents officially approved the 2022-23 University budget at its spring meeting earlier this week.
The 2022-23 budget document can be found at: /sites/default/files/2022-05/MtA-Budget-2022-23.pdf. A summary of budget facts and highlights is presented in the introduction of the document.
The University will be scheduling information sessions in the coming weeks for those who wish to learn more details about the budget and budget process. The sessions will be both online and in person – students, faculty, and staff should watch their 69³ÉÈ˵çÓ°Íø e-mail for details.
Key assumptions
- Total enrolment has trended up in the past three years, and 69³ÉÈ˵çÓ°Íø is cautiously optimistic of achieving an increase again this Fall. 69³ÉÈ˵çÓ°Íø is budgeting for 750 incoming first-year students – the largest incoming class in many years.
- The Government of New Brunswick’s budget includes a 1.5% increase to the base grant, as well as an additional 1% contingent on achieving enrolment growth targets.
- Tuition will increase by 3%, to $9,725 (full-time domestic) and $19,520 (full-time international) for the 2022-2023 academic year.
- The operating budget will have a deficit while the residence and endowment budgets are balanced. No external debt will be required to support these budgets.
2022-23 Focus
Despite the disruption and adjustments necessary to navigate the COVID-19 pandemic over the past two years, the University community demonstrated remarkable resilience. At the same time as University operations underwent significant adjustments, the 69³ÉÈ˵çÓ°Íø community continued to innovate in many ways, as evidenced in new academic programming, additional student support and financial aid opportunities, and campus infrastructure projects.
This year’s budget reflects ongoing investments in these important strategic initiatives:
• Continued development of new academic degrees, programs, and certificates.
• Enhanced support for research and academic planning.
• Increased academic resources in the form of additional lab instructors and teaching assistant positions.
• Additional funding for student health and wellness initiatives.
• Continued renewal of our campus infrastructure, including major renovation projects for Harper Hall and the Athletics Centre gymnasium, and
• A continued focus on recruitment and marketing.
Over the past two years, 69³ÉÈ˵çÓ°Íø has weathered what we hope are the most challenging phases of the pandemic. This has made us stronger as an institution and allows us to focus on the future with renewed confidence and sense of purpose.
If you are interested in more details and highlights about the 2022-23 budget, please consider attending one of the upcoming information sessions – stay tuned for details.
