REGINA – The University of Regina’s Board of Governors recently approved a balanced operating budget and a comprehensive budget plan for 2007-08 that, according to a news release, will continue to move forward the institution’s strategic plan.
The University will see revenue of $212 million from all sources in 2007-08, prompting board Chair Moe Bundon to remark, “this budget will improve the University’s ability to compete nationally and grow its reputation for academic and research excellence.”
Budget highlights include:
• Board approval allowing for the third straight year of zero increase of domestic undergraduate tuition
• An increase in total available funding for student financial assistance of $648,000
• A $3.69 million increase in the cost of salaries, benefits, and other workforce costs. Total employee costs will be more than $98 million, about 75 percent of the operating budget.
• More than $35 million for capital projects. This year’s capital plan includes $25 million for the university’s new laboratory building
• International undergraduate tuition fee differential will increase by 14 per cent, to 2.3 times the domestic tuition rate, a move expected to generate $493,000 in new revenue.