2015-2016 Budget

      • May 27, 2015: Budget Update

        I am pleased to report that the Board of Governors formally adopted the 2015/16 budget on Tuesday, May 19, 2015.

        The 2015/16 budget sets the stage for Capilano’s transformative future, clearly aligning with the goals outlined in the Strategic Plan. The budget will allow Capilano to better meet the needs of its students, faculty and staff by providing the funding necessary to enhance the services we offer to our students, upgrade campus facilities and improve our student enrolment systems.

        Thank you to all who lent your expertise, time and resources to the budget process. I look forward to collectively creating a learning environment that will best serve our current and future students.

        Kris Bulcroft
        President, Capilano University

        May 7, 2015: Budget Update

        The 2015/16 Budget Process continues to move forward, according to the established timeline

        On April 14, I submitted a recommended balanced budget with details, including a proposed tuition increase and new student fees, to the Senate Budget Advisory Committee (SBAC) for consultation.

        The University presented the draft 15/16 All Funds Budget to the Board on April 27, recommending that the budget be reviewed by the newly formed Executive Committee of the Board at its meeting on May 14 before it is presented to the Board for approval. The Board approved the recommendation. 

        On April 27, the Board approved a 2% increase to student tuition, the maximum allowable increase under the provincial tuition-limit policy. The Board also approved two new student fees: the Student Services Fee and Student Technology Fee. These fees will enable Capilano to improve existing services and add new services and technology, ultimately enhancing the student experience and contributing to student success.   

        The SBAC held meetings on April 28 and May 4 to discuss the budget and request additional information.  

        Next steps

        Following the Executive Committee of the Board meeting on May 14, the University will prepare a recommended All Funds 2015/16 Budget, which we will present to the Board at its next meeting on May 19.

        We are confident that this budget will support Capilano University in achieving the goals outlined in the Academic and Strategic Plans; allowing us to refine our program offerings, better manage student enrolment and enhance learning environments.

        We will continue to keep you updated as the process unfolds.

        Kris Bulcroft
        President, Capilano University

        March 12, 2015: Budget Update

        I am writing with an update on the 2015/16 budget planning process. 

        Over the past few weeks, the VP of Finance and Administration liaised with each department and faculty to collect a list of budget add-ons. The University will give these requests our full consideration as we proceed with the budget process. The next step is to present the list of budget add-ons and capital expenditures to the Senate Budget Advisory Committee (SBAC) and Board of Governors for information at their respective meetings on March 17. 

        Unfortunately, the Ministry of Advanced Education recently informed us that we will not receive additional funding in 2015/16. In the coming weeks, I will work with the executive group to identify options that will address our funding gaps while equipping the University to achieve its strategic priorities. 

        Our Academic and Strategic Plans will continue to offer guidance for decision making, outlining where we should focus our resources to remain fiscally responsible and meet our students’ expectations. 

        I will keep you informed of new developments, but if you have any questions or feedback, contact budget@capilanou.ca.

        Kris Bulcroft
        President, Capilano University

        February 5, 2015: Budget Update

        Throughout the past few months, we have been actively engaged in developing the 2015/2016 budget, taking into account our fiscal realities and the government reduction in funding across the B.C. post-secondary sector.

        The University Act requires us to have a balanced budget, so a key part of our planning process is to identify how we can generate revenue and reduce costs. The preliminary budget for the year ending March 31, 2016 shows a shortfall of $1.2 million. As a result, we will once again need to consider changes in our service offerings, delivery mechanisms or curriculum in order to continue providing an exceptional learning experience while ensuring fiscal sustainability.

        Protecting the academic integrity of our programs and maintaining positive student experiences are Capilano University’s top priorities. As we consider our plans for the future, we will continue to provide you with updates about our progress. I encourage all our students, faculty and staff to stay up to date with the latest activities by visiting this page. Of course, if you have any questions as we move forward, please feel free to reach out at budget@capilanou.ca.

        Kris Bulcroft
        President, Capilano University