Update on UBC’s budget for the 2022/23 fiscal year

This week, the proposed UBC budget for 2022/23 was presented to the Board of Governors’ Finance Committee for review, in advance of consideration for approval by the full Board of Governors on March 31, 2022. 

The proposed budget aims to direct our limited resources to key areas, including the continued pursuit of excellence in teaching, learning, and research; expansion of academic and non-academic support for students; supporting the implementation of the Climate Action Plan and the Climate Emergency; fulfilling the commitments of the Indigenous Strategic Plan; and furthering Anti-Racism and Inclusive Excellence initiatives. 

The financial projections in the budget are based on rigorous financial analysis and planning. We want to reassure you that, while we still face the uncertainty of COVID-19 variants, new geopolitical tensions and inflationary concerns in the broader economic environment, our financial health remains strong. UBC’s financial affairs have strong oversight and governance through the UBC Executive and the Board of Governors, which is validated through leading credit rating agencies. In December 2021 the university was reaffirmed with an Aa1 rating from Moody’s Investors Service, who assessed UBC to have an “outstanding market position”. 

As we prepare to present the proposed budget to the full Board of Governors, we would like to express our thanks to all those who engaged in this year’s process, particularly for ensuring that the budget is centred around UBC’s academic mission and strategic priorities, while still navigating the challenges of the COVID-19 pandemic. 

Once approved, the budget report will be made available on the UBC Finance website and will be shared via UBC Today. Thank you to all those who helped create this report.

Peter Smailes
Vice-President, Finance and Operations

Andrew Szeri 
Provost and Vice-President, Academic, UBC Vancouver 

Lesley Cormack 
Deputy Vice-Chancellor and Principal, UBC Okanagan