2016-2017 Budget

      • 2016/17 Budget Process Update
        March 16, 2016

        The Board of Governors formally adopted the 2016/17 budget on Tuesday, March 15, 2016.

        The 2016/17 budget affirms our commitment to achieving the goals outlined in the Strategic Plan. The budget will allow Capilano University to enhance student services and establish programming in general education and The Cap Year Experience, while providing the funds necessary to upgrade our campus facilities and improve our student enrolment systems.

        Thank you to the Board and the campus community for engaging in meaningful, thoughtful dialogue throughout the budget process. Your time, expertise and insight take us steps closer to fulfilling our potential as a teaching university focused on student success.

        For background and narrative on the 2016/17 budget process, please read the President’s Report to the Board of Governors.

        Kris Bulcroft
        President, Capilano University

        2016/17 Budget Process Update
        March 8, 2016

        On February 16th, the President sought the advice of the Senate Budget Committee on the 2016/17 Budget. The Senate Budget Committee asked questions and provided advice to the President.

        These are the most up-to-date budget documents that will be provided to the Board for their budget deliberations on March 15th.

        2016/17 Budget Process Update
        February 17, 2016

        The 2016/17 budget process continues to move forward.

        On Tuesday, February 16, the Board approved a 2% increase to both domestic and international student tuition, the maximum allowable increase under the provincial tuition-limit policy.

        The University also presented a summary of the draft 2016/2017 All Funds Balanced Budget to the Board, with a recommendation that the draft 2016/2017 All Funds Balanced Budget be reviewed. The budget will go before the Board for adoption at its next meeting on Tuesday, March 15.

        The following documents were presented to the Board of Governors:

        If you have any questions, please speak to your dean or director.

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

        Kris Bulcroft
        President, Capilano University

        President’s Message: 2016/17 Budget Process Update
        January 28, 2016


        Every year the Ministry of Advanced Education requires the University’s Board of Governors to approve a balanced budget. The process necessary to build the University’s 2016/17 budget has been underway for some time. In previous years, the Board has reviewed the recommended final balanced budget later in the spring. However, this year, due the retirement of our VP Finance and Administration, the recommended final balanced budget will be presented to the Board in March. The budget process overview is posted on Capilano University’s website.

        Projections
        Because costs always rise faster than revenue, we face roughly a $1.5M shortfall every year, and many approaches to resolve this are already in place. Nevertheless, a preliminary review of anticipated expenditures for 2016/17 suggests Capilano University will face a budget shortfall of $1.3M next year. This means that when we consider our contractual obligations, known costs and priority expenditures against expected revenues and anticipated funding, there is a gap of approximately $1.3M. The most significant factor contributing to our shortfall in the coming year is a $2.2M decrease in revenue for domestic enrolment. Domestic enrolment is down in most universities due to shifting demographics and changing student interests and expectations. A drop in the value of the Canadian dollar relative to US currency has also resulted in a 40% increase in costs for things like library resources, IT licenses, and some equipment—all billed in US dollars.

        Bridging the Funding Gap
        As we do every year, the University explores a variety of options to help bridge the anticipated budget shortfall. All possibilities, across the entire organization, are considered and assessed. Possible solutions can range from an across-the-board percentage reduction in operating expenses, to limiting our offerings and/or services in the coming year. Revenue generation is also an important part of the equation, with all ideas thoughtfully considered. Throughout this process, the University maintains its focus on the primary goal of student success, and endeavors to minimize potential impacts on staff, faculty, and institutional infrastructure.

        Next Steps
        Building a balanced University budget is an increasingly difficult challenge. It requires people from across the organization to come together to explore a range of possibilities. The first draft of the 2016/17 budget will be reviewed by the University’s executive management group, the Board’s audit committee, the Senate Budget Advisory Committee (SBAC), and the executive committee of the Board. Feedback from each of these stakeholder groups will be used to develop the final balanced budget. The Board of Governors will consider the draft balanced budget on February 16 and receive the final balanced budget for approval on March 15.

        Thank you to everyone who has contributed ideas and efforts so far to help develop the draft budget, and stay tuned for more information as it becomes available.