Press Release
Saturday, September 26, 2020
Highlights of the Board of Governors Meeting on September 26, 2020
2020-2021 and 2021-2022 budget adopted
The Board of Governors adopted a budget for fiscal 2020-2021 and 2021-2022 that lays the groundwork for financial recovery starting in 2022-2023. The projected budget deficit will be $5.9 million in 2020-2021 and $2.8 million in 2021-2022.
Expenses have been slashed in all departments and Faculties for 2020-2021 and 2021-2022. “Major efforts to update the nature and range of our educational programs and to improve our administrative efficiency will continue through the coming years in order to reduce the impact on tuition fees and to present balanced budgets,” said the President and Vice-Chancellor, Dr. Denis Prud’homme. “Despite this financial challenge, we are going to create strategies that ensure that the Université can continue to develop while still providing education, research opportunities and an experience that meet the expectations of its students.”
The financial challenge currently facing the Université de Moncton is due to a number of factors that did not all occur at the same time. The COVID-19 pandemic, which began in the winter of 2020, imposed historic financial constraints on universities in Canada and abroad, constraints that will continue for several years.
The decrease in new international enrolments will also have an impact on the Université de Moncton’s revenues. Despite the positive results for total enrolments in September 2020 as opposed to September 2019, the drop in new international enrolments will have effects that will be felt for several years. “This decrease, which mainly affects new students, is directly linked to restrictions imposed by the Canadian government on our national borders,” Dr. Prud’homme remarked.
The Université de Moncton’s administration believes more firmly than ever that it is appropriate for governments to invest in postsecondary education, and university education in particular.“Tuition fees at the Université de Moncton are currently lower than those at the three public English-language universities in New Brunswick, and our financial aid program is extremely competitive. Access to university studies is still one of our principal priorities, along with quality of instruction, research excellence and innovation,” Dr. Prud’homme said in conclusion.
For more information on the 2020-2021 and 2021-2022 budget, consult our current budget situation (French only).
Report of the President and Vice-Chancellor
The report presented by the President and Vice-Chancellor to the Board of Governors during this meeting informs the public about the main issues, news and principal achievements of the Université de Moncton between June 11 and September 18, 2020.
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