Rising costs at UVic require a budget cut

March 29, 2012

The University of Victoria's board of governors has approved a balanced budget framework for the 2012-13 fiscal year that preserves funding in key areas such as student aid and library acquisitions, while implementing an across-the-board 1.5% reduction in other areas. With no increase in the government operating grant for the 2012-13 fiscal year, rising costs require UVic to make a budget cut. In its latest budget, the BC government announced that university operating grants will be cut by 1% in 2013-14 and by another 1.5% in 2014-15. UVic's budget framework includes $500,000 in one-time funding allocated to student aid at both the undergraduate and graduate levels to maintain UVic's standing in the top 20% of Canadian universities. The institution is also allocating resources to student recruitment and retention. UVic News Release