2024-2025 estimated consolidated operating budget
Considering the aforementioned assumptions, the 2024-2025 estimated consolidated operating budget totals $244.2M. This is 92 per cent of the university total budget which also includes restricted funds ($15.4M or 6 per cent for research and $4.2M or 2 per cent for restricted donations).
An Operating budget is a complex entity. Therefore it is, in turn, further broken down into a series of funds which are each aligned with a primary function (Figure 4).
| Operating Budget | Purchased Services | Operating-REV | Ancillary Fee Budget | Infrastructure Capital | Commercial Services | 2024-25 Proposed Budget | |
|---|---|---|---|---|---|---|---|
| Revenues | |||||||
| Operating Grants | 60,907 | - | - | - | 13,500 | - | 74,407 |
| Other Grants | 7,384 | - | 2,472 | 221 | 2,490 | - | 12,567 |
| Tuition | 100,650 | - | 11,584 | - | - | - | 112,234 |
| Student Ancillary Fees | 1,619 | 1,481 | 137 | 12,375 | 2,154 | 496 | 18,261 |
| Donations | 538 | - | 2,034 | 122 | - | 8 | 2,702 |
| Other Revenue | 5,834 | 220 | 11,106 | 574 | - | 6,349 | 24,084 |
| Total Operating Revenues | 176,933 | 1,701 | 27,332 | 13,292 | 18,144 | 6,853 | 244,255 |
| Base Expenditures | |||||||
| FT Labour | (108,236) | (7,651) | (6,348) | (6,484) | - | (1,451) | (130,170) |
| PT Labour | (11,795) | (197) | (4,512) | (1,488) | - | (412) | (18,403) |
| OPEX | (28,960) | (7,541) | (15,164) | (2,732) | (16,501) | (4,331) | (75,229) |
| CAPITAL | (106) | - | (9) | - | (4,644) | - | (4,759) |
| Approved Base Expenditures | (149,098) | (15,388) | (26,032) | (10,704) | (21,145) | (6,194) | (228,561) |
| Budget Surplus/(Deficit) before Asks | 27,835 | (13,688) | 1,300 | 2,588 | (3,001) | 659 | 15,694 |
| Recommendations | |||||||
| Base Recommendations | (3,434) | (410) | (1,211) | (209) | - | (322) | (5,168) |
| OTO Recommendations | (3,697) | - | 32 | (543) | - | (50) | (4,258) |
| Capital Recommendations | (1,085) | - | (181) | (2,390) | - | (10) | (3,666) |
| Total Net New Recommendations | (8,216) | (410) | (1,360) | (2,723) | - | (382) | (13,092) |
| Total Expenditures | (157,314) | (15,798) | (27,392) | (13,427) | (21,145) | (6,577) | (241,653) |
| Total CY Budget Surplus/(Deficit) | 19,620 | (14,098) | (60) | (135) | (3,001) | 276 | 2,602 |
| Funded through PY restricted reserves | - | - | - | 373 | - | - | 373 |
| Risk Contingency Fund | 2,443 | - | - | - | - | - | 2,443 |
| Total Budget Surplus/(Deficit) | 22,062 | (14,098) | (60) | 238 | (3,001) | 276 | 5,418 |
