We are thankful to be welcome on these lands in friendship. The lands we are situated on are covered by the Williams Treaties and are the traditional territory of the Mississaugas, a branch of the greater Anishinaabeg Nation, including Algonquin, Ojibway, Odawa and Pottawatomi. These lands remain home to many Indigenous nations and peoples.

We acknowledge this land out of respect for the Indigenous nations who have cared for Turtle Island, also called North America, from before the arrival of settler peoples until this day. Most importantly, we acknowledge that the history of these lands has been tainted by poor treatment and a lack of friendship with the First Nations who call them home.

This history is something we are all affected by because we are all treaty people in Canada. We all have a shared history to reflect on, and each of us is affected by this history in different ways. Our past defines our present, but if we move forward as friends and allies, then it does not have to define our future.

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Expense assumptions

Ontario Tech’s estimated expenses for 2024-2025 total $241.7M. These are illustrated in Figure 3. These are estimated based on the following assumptions:

Labour

Labour costs represent the overwhelming majority of our annual expense budget, and the largest increase in our total expenses in comparison to last year. This total increase of about $10.5M (year over year view in Figure 5) includes $6.5M to cover existing contractual commitments to salary and benefit increases, $1.5M for new faculty and staff, and $2.5M for additional sessional instructors and teaching assistant support.

Student experience and student financial aid

An additional $2.0M will be invested to support our students (i.e. $1.5M, mainly funded by ancillary fees, to support the student experience and $0.5M in financial aid).

Research

While most of the direct research funding (e.g. from the Tri-Agencies and other funding sources) goes into restricted faculty accounts, the operating budget increase includes an additional $1.5M of which two-thirds is covered by direct revenue (i.e. $500K for start-up funds, $500K for equipment related to advancing the energy research agenda, and $500K to fulfil Brilliant Catalyst contracts).

Capital infrastructure

An additional $1.1M will be invested in new assets and repairs to our IT and facilities infrastructure. Combined with the current base (which is mainly offset by grants), this brings the total capital investments to about $8.4M.

Figure 3: Estimated 2024-2025 operating expenses by functional area ($241.7M)
Pie chart showing Ontario Tech's estimated expenses for 2024-2025, totalling $241.7M. Labour costs represent the majority of our annual expense budget, with an increase of about $10.5M compared to last year. Investments in student experience and financial aid amount to $2.0M. In research, an additional $1.5M is allocated, with funding directed towards start-up funds, equipment for advancing energy research, and fulfilling Brilliant Catalyst contracts. Capital infrastructure investments include $1.1M for new assets and repairs to IT and facilities infrastructure, bringing total capital investments to approximately $8.4M.