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At its March 31 meeting, the Board of Governors approved the ̽��ϵ��’s Planning and Budget Framework, setting priorities for the next three years and projecting a balanced operating budget of $557 million for 2026/27.

This is the second consecutive year UVic has balanced its budget without the need for cuts, reflecting institutional stability despite ongoing pressures affecting the Canadian post-secondary sector.

Stay tuned for information about a Planning and Budget Framework Information Session for faculty and staff, planned for April 27, 2026.

A stable financial position in a challenging environment

UVic’s operating budget is primarily supported by provincial grant funding to educate students, followed by tuition, with enrolment accounting for almost 90% of UVic’s total operating revenue. While post-secondary institutions continue to face challenges related to international enrolment and inflationary costs, UVic’s position has been strengthened by strong domestic enrolment and the stabilization of international student numbers.

This stability is thanks to coordinated recruitment and retention efforts in Student Affairs, the faculties, and across the university, including the diversification of international markets, earlier admission offers, in-house marketing campaigns, and scholarship offers. Increased collaboration with faculties has supported the development of new academic program offerings, access to high-demand courses and increased progression and retention.

UVic’s outstanding faculty and staff remain our greatest investment, with 81% of operating expenditures dedicated to salaries and benefits that drive our academic and research mission.

The 2026/27 operating budget includes fee adjustments to help meet rising operational and inflationary costs, including a 2% tuition increase for domestic undergraduate and graduate students (consistent with the provincial tuition limit policy) and a 4% increase for returning international undergraduate students (to reflect inflationary costs).

We have also planned prudently to cover inflationary costs for the UVic Libraries Collection, software licenses and utilities.

Focused investments and future priorities

While no new ongoing investments are planned beyond government-funded academic program expansions, the framework outlines key priorities for the next three years, aligned with UVic’s Strategic Plan.

Financial sustainability remains a central focus, with particular attention to international and Indigenous student recruitment, aligned with our Strategic Enrolment Management Plan. To support student success and access, we offer competitive scholarships and needs-based financial supports—including for students who experience barriers—as well as other initiatives to help address affordability, food and housing insecurity.

Supporting students with disabilities is also a top priority, with planning underway for a new Centre for Accommodated Assessments, expected to open in 2027.

UVic continues to reach new learners through pathways, micro-certificates, degree programs and professional graduate programs, as well as partnerships with institutions in BC and internationally. We are also preparing to offer two Senate- programs with transnational education partners in Thailand and Singapore, which will further diversify revenue.

The framework reinforces UVic’s commitments as articulated in our Equity Action Plan and Indigenous Plan, alongside ongoing work to strengthen relationships with communities, alumni and donors. We continue to work together on these and other strategic plans by thoughtfully using the resources we have, as we work towards respecting the rights of one another and being in right relationship with all things. A comprehensive fundraising campaign is underway to support these and other priorities.

Finally, UVic’s real estate strategy outlines the development of a new mixed-use University District, to further diversify revenue and provide housing for our community.

Looking ahead

In November 2025, the Minister announced a Post-Secondary Sector Sustainability Review, noting that 20 of BC’s 25 public post-secondary institutions are forecasting at least one annual deficit between now and 2028/29 and that most are not achieving their enrolment targets. UVic’s stable enrolment and budget landscape positions us well for the sustainability review and into the future. We continue to focus on careful stewardship of public funds and student tuition fees, while investing in our core mission of teaching, research and student success.

Sustaining enrolment and strengthening UVic’s value locally and globally will be key to ensuring the university remains a place where students thrive and research drives innovation in the years ahead.

Last updated April 1, 2026