UBC’s Board of Governors met in the Robert H. Lee Alumni Centre at UBC Vancouver on Friday to discuss the Student Affordability Task Force Report and approve UBC’s 2025/26 budget.
During the meeting, a protest organized by Peoples University UBC was happening outside the Alumni Centre. Protestors were calling on the Board to divest from companies they say are complicit in Palestinian human rights abuses.
Campus Security and RCMP were also present at entry ways, keeping them locked. Chants of "free, free Palestine" could be heard from the board room — none of the governors acknowledged the protest.
Here’s what you might’ve missed.
Implementation update from Student Affordability Task Force
UBC VP Students Ainsley Carry gave an the third implementation update on the Student Affordability Task Force (SATF).
This plan stems from 2017, when student governors requested the administration to develop an affordability plan. By the end of 2021, a complete SATF was agreed upon, and one year later, the Board approved these SATF report recommendations.
“This exact month, March, three years ago, the Board of Governors fully endorsed a 10 point student affordability report and task force plan,” said Carry.
During his presentation, Carry highlighted a few of the 10 recommendations.
The first recommendation he outlined was the development of a multi-year tuition framework. Students entering in May 2025 will be informed of a range of tuition increases during their four-year enrollment. He explained that this “allows students to increase their predictability of their expenses each year.”
The second recommendation he outlined is to address cost of living challenges, especially food insecurity. Since 2022, he noted UBC has allocated $2.7 million to food insecurity. This equates to approximately $800,000 over the last three years.
The third recommendation he presented was to address the cost of childcare. All childcare centres — except Heron’s Landing — at UBC Vancouver offer $10 per day rates.
The fourth recommendation relates to student housing. UBC housing rates against peer institutions in the 50th percentile, offering “some of the lowest cost housing in Canada.”
“Our rates are within the range of 20 to 25 per cent below the market rate,” said Carry.
In response to the first recommendation, student Governor Eshana Bhangu said that it is “unsurprising” and “disappointing” that the cost calculator has not come to fruition. She said that there needs to be a cost calculator that provides an estimate for four years of attendance, not just the first year.
Provost Gage Averill responded by agreeing with these points but also noting that within “turbulent times,” the university has no idea where currency exchange rates are headed and what could happen within a four-year period.
Board approves 2025/26 budget
Next, the Board heard Averill present the 2025/26 budget. Key considerations guiding this year’s financial plan include enabling a holistic student support system, driving a positive social impact and ensuring long-term financial sustainability.
Unique to this year’s budget are new obstacles stemming from global challenges. Threats facing this year’s revenues include global uncertainties and visa challenges for undergraduate international students. Further, threats facing expenditures include US tariffs and a weakening Canadian dollar that could raise costs for supplies and infrastructure.
Averill said the Faculty of Arts and the Faculty of Applied Science are operating in deficits, mainly driven by the lack of international students. In contrast, the Sauder School of Business and the Faculty of Medicine are operating in surpluses.
VP Finance and Operations Frank Laezza said UBC’s projected operating budget is $2.72 billion, and the non-operating budget stands at $1.26 billion. The operating budget includes funding for academic programming and core student support.
Laezza said that UBC is projecting an $80 million surplus. This is a reduction in last year’s surplus. He explained that the surplus is earmarked for specific purposes and can not be used for the operating budget.
“Government funding is helping us balance the budget, but we also are relying on some reserve spending,” said Laezza.
After the presentation, the discussion focused on the potential of recruiting US students to fill the international enrollment gap caused by a reduction in students from India.
“The US market is a huge opportunity for us to really delve into,” said student Governor Kamil Kanji.
Faculty Governor Anna Kindler echoed these sentiments and called this a “narrow window opportunity” that the university could take advantage of and refill using “markets that are closer to home.” She cited recent news of academics from high-profile institutions planning to leave the US for Canada.
Averill said the university has largely been focused on the West Coast in the US, but they are working to cover more of the country along with the UBC Office of Global Engagement.
The 2025/26 budget was approved shortly after.
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