The University of Regina’s Board of Governors approved its 2021-22 budget on May 4, 2021.
The total operating budget for the University includes revenues of $237.3 million against expenditures of $240.8 million. A temporary shortfall is a direct result of the ongoing financial pressures related to the COVID-19 pandemic. The University expects to absorb the shortfall and anticipates revenues will begin trending toward pre-pandemic levels starting next year.
Planning for a more financially sustainable future is underway at the University of Regina. Following the Government of Saskatchewan’s 2021-22 provincial budget announcement, which included stable, multi-year funding for the province’s post-secondary institutions as well as an injection of non-base funds over the first two years, the University is working to identify and implement initiatives that generate new revenue streams and enable greater cost efficiencies.
The approved budget includes a four per cent increase to most tuition rates and fees for the 2021-22 academic year, beginning in the Fall 2021 semester.
The University of Regina recognizes the financial pressures that students are facing and remains committed to providing them with accessible and affordable post-secondary education," said Roger Brandvold, Chair of the University’s Board of Governors.
“Today’s announcement ensures tuition remains competitive with other post-secondary institutions and allows the University to address its most pressing needs, particularly in relation to the ongoing financial pressures resulting from the COVID-19 pandemic.”
The University of Regina’s total tuition and fee structure continues to place the University of Regina midway in comparison to other Canadian institutions in total cost to undergraduate students. The University offers the lowest cost tuition and fee package for graduate students in Canada. Additionally, the University of Regina has taken significant action to ease financial pressures on students, including:
· Freezing tuition and fees last year due to the pandemic;
· Funding and managing two Student Emergency Funds which provided more than $415,000 to students in financial need;
· Making it quicker and easier for students to transfer credits from other post-secondary institutions, saving them an estimated $18.3 million in tuition over the last five years;
· Continuing to rank among the top Canadian universities in supporting students through scholarship and bursary funding;
· Freezing residence rates for students who choose to live on campus and offering financial awards to new students, returning students, Indigenous students, international students and 2SLGBTQ+ students to support them living on campus;
· Expanding the number of courses that feature Zero-Cost Materials or Open Education Resources, thereby saving students money on course materials; and,
· Creating more employment opportunities for students at the University of Regina.
The University of Regina is committed to ensuring it remains financially sustainable as it begins planning to transition back to more normal campus activity. This budget allows the University to maintain the high-quality research and academic programming it offers today, with no programming cuts, while also providing students with access to much-needed supports and services such as mental health resources.
