UBC planning a balanced operating budget for 2026/27

In advance of the Board of Governors meeting on March 31, we wanted to let you know that we will be presenting a balanced budget for approval. This is a good outcome given the continued fiscal pressures on Canadian higher education.

We want to thank the many colleagues whose responsible stewardship has helped UBC project a balanced operating budget for next year. This requires important contributions from hundreds of people across both campuses.

Across Canada, international student numbers continue to lag historic highs—in many places significantly so. Within this context, UBC remains on track to meet its overall enrolment assumptions in the current year. The university is actively managing uncertainty through coordinated recruitment and admissions efforts, and by exploring opportunities to further diversify revenues across the institution.

Macroeconomic factors continue to shape the university’s financial outlook. Notably, rising labour, utility, software, and other operating costs continue to create sustained financial pressure, with labour‑related expenses accounting for roughly three‑quarters of UBC’s operating budget. The 2026/27 budget prioritizes the core academic mission, and advancing these priority areas has required difficult decisions, including scaling back or deferring other activities.

While the budget is balanced, the margin between revenues and costs remains narrow—continued discipline and careful prioritization will remain important across the institution. We also recognize that while the university’s overall operating position is balanced, financial pressures are not evenly distributed. Many Faculties and administrative units continue to manage increasing costs and local budget constraints as they work toward balanced positions in the coming years. 

Further information will be shared with the broader community once the budget is approved.

Sincerely,

Gage Averill
Provost and Vice-President, Academic, UBC Vancouver

Lesley Cormack
Principal and Deputy Vice-Chancellor, UBC Okanagan

Frank Laezza
Vice-President, Finance & Operations