University of Manitoba approves its 2021-22 budget
The University of Manitoba’s Board of Governors approved the University’s 2021-22 $660 million general operating budget at its regularly scheduled meeting on March 23, 2021.
This balanced budget makes strategic investments in scholarships and bursaries, student supports, accessibility, research initiatives and equity, diversity and inclusion. Significant investments will be made in renovations of classrooms and other learning spaces, as well as office and common spaces. UM will also continue to invest in the National Centre for Truth and Reconciliation as well as provide funding to academic units to support their recruitment of Indigenous faculty.
To better support remote teaching and learning, this budget invests an additional $1M in UM’s information technology infrastructure, and provides $1.2 million to purchase new software and hardware. We are also creating an experiential learning centre, as well as hiring additional career counsellors. Academic success remains a top priority, and although the general operating budget will decrease by $ 14.2 million (2.1%) in 2021/22, our academic units’ net operating budgets are increasing overall.
The Board also approved an increase in tuition rates and fees of an average 3.75%. The specific program by program impact can be found here (beginning on page 176). The University of Manitoba continues to be the most accessible research-intensive university in Western Canada and remains one of the most affordable institutions in all of Canada.
Additional revenue from tuition will help to offset continued reductions to UM’s provincial operating grant. For the fiscal year 2021-2022, our provincial operating grant has been reduced by $5.7 million (1.75%). This follows reductions totaling $10M over the past three years.
“I’m proud and thankful for the hard work of so many who balanced this budget after such a tumultuous year, and that most importantly, we prioritized funding for academic projects and student supports,” said Michael Benarroch, President and Vice-Chancellor at UM. “The University of Manitoba continues to demonstrate that it provides significant return on provincial investment, as a driver of job creation and discoveries that benefit all Manitobans. We know that Manitoba’s post-secondary institutions play a pivotal role in our economic recovery as we emerge from this pandemic.”
As the pandemic and its related impacts unfold, the University will update financial projections and will continue to implement measures to manage and mitigate the financial impacts where feasible.
The Provincial government is expected to release its budget on April 7, however, this year, to better support planning, the Province provided post-secondary institutions with funding allocation details in advance of budget day.