Adopted last fall, the University of Ottawa’s strategic plan, Vision 2010, will have a significant impact on this year’s budget approved by the Board of Governors on July 24, 2006.
The 2006-2007 budget projects revenues of $633.3 million, an increase of $30.6 million or 5.1 per cent over 2005-2006.
The University will invest over $2 million to build leadership in promoting Canada’s official languages. Activities include the creation of the Institute of Official Languages and Bilingualism.
Additional francophone faculty will be hired to support more comprehensive programming for francophone and immersion students. The recently created Working Group on French-Language Programs and Services will submit its recommendations by the end of this fiscal year.
With a focus on innovation and excellence in learning, over $19 million has been allocated to reduce class size and introduce innovative academic programming. This will see the creation of 85 additional faculty positions, an increase in the number of teaching assistants, and enhanced multimedia and videoconferencing facilities.
To support knowledge through research, an additional investment of $2M will allow more graduate student scholarships, labs for new faculty members and postdoctoral training. This increase in scholarship support as well as increased assistantships complements the University’s objective of increasing graduate enrolment to reach 5,500 full-time equivalent students (FTES) by 2010 compared with 3,836 in 2005-2006.
To offer students an unparalleled university experience, over $8 million will support the enhancement of library services and collections, and the optimization of learning facilities. A further $2.8 million will improve the Student Information System and the expanded wireless network.
The Ontario government’s 2005 Reaching Higher Plan continues to positively impact this year’s budget, ensuring that the University’s operating funds are expected to grow by $53.2 million (13.1 per cent) reaching $458.1 million. The 2006-2007 operating budget shows a surplus of $220,000 compared to last year’s $80,000.
New funding is being targeted for specific initiatives and goals identified by the provincial government, including the establishment of enrolment targets. Based on past successes, the University’s allocation for graduate studies is set at 1,231 FTES or 10 per cent of the growth objective for the province.
Another initiative is to enhance the availability of francophone programs and services. The University is aiming for an annual increase of 258 francophone students or 4 per cent over 2005-06.
Tuition fees, which had been frozen by the Ontario government, will increase by about $19.8 million as the result of the 4.2 per cent general increase in tuition fees this year. Thirty per cent of the revenue generated from increased tuition fees will be directed to student financial aid. Funding for bursaries and scholarships, meanwhile, will be augmented by $4.4 million to a total of $33.8 million.
On the pension front, the actuarial valuation shows a small surplus. The University’s contribution to the pension plan deficit therefore continues at a rate of $1.1 million annually. In addition, $1.4 million will be added to the pension reserve to fund possible shortfalls in future years.
Related Link:Budget 2006-2007
