June 23, 2007

The University of Northern British Columbia’s Board of Governors has approved a $57.5 million operating budget for the 2007-08 fiscal year, which officially began in April. The budget is balanced and includes a 2% tuition fee increase, achievement of cost-saving goals for the fiscal year, and the allocation of funds to support strategic opportunities for the University.

“Budget planning has consumed much of the Board’s attention for the past several months and we’re impressed with how everyone at the University has responded to the challenge,” says Board Chair Donald Rix. “We’ve all been guided by simple objectives: minimize disruptions to students and make UNBC better tomorrow than it is today. The Board is confident that this has been achieved.”

In 2007/08, UNBC is starting a three-year comprehensive budget process to strengthen the sustainability of the University into the future. Through restructuring and identifying internal efficiencies, the University has realized a cost saving of $3.4 million for 2007-08. $2 million of these savings are being allocated to the base operating budget to bring revenues and expenditures into alignment. The remaining $1.4 million is being used to create a strategic investment fund, which is being used to support the priorities identified in the University’s strategic plan. These priorities include strengthening external relations, enrolment growth, implementing the academic vision, expanding research connections with communities and industries, regional programming, and athletics and wellness.

“Investing in the future is key to this budget and the planning process that has been implemented,” says Dr. Rix. “Much of UNBC’s success to date can be attributed to the fact that it has been responsive to opportunities that have made the University stronger and more attractive to students. We’re all looking forward to a successful academic year in 2007-08.”

Contact:
Rob van Adrichem, Director of Media and Public Relations, UNBC – 250.960.5622