UPEI Budget Process Update/Information Session

Dear members of the University community,

By now you have heard that Prince Edward Island’s Minister of Finance, Energy, and Municipal Affairs, the Honourable Wes Sheridan presented the provincial budget yesterday in the PEI legislature. The Vice-President Administration and Finance and I listened to the Minister's address from the public gallery, and we attended the Greater Summerside Chamber of Commerce post-provincial budget breakfast meeting this morning.

Over the past several months, UPEI has been working closely with our provincial government to develop a sustainable budget for the University. With yesterday’s confirmation of UPEI’s core operating grant from the Province of Prince Edward Island, the University can now move forward with its budget process.

The PEI budget document confirms that our core operating grant for 2014-15 will be $30,269,600 and for AVC, $8,496,500—identical to last year. Restricted funding is reduced from $8,125,300 in 2013–14 to $5,564,100 in 2014–15. This is due to the successful completion of a number of “one-off” initiatives, such as the Bachelor of Education program for Kindergarten teachers.

PEI’s focus on international recruitment to post-secondary educational institutions was also mentioned in the budget. UPEI’s Director of International Relations is working very closely with Holland College and Collège Acadie Î.-P.-É. on an international recruitment strategy.

The University holds international recruitment in line with two other priorities: 1) to recruit more Island high school students to UPEI, and 2) to improve the retention rate among current students. Achieving these goals will put UPEI in a better position to present sustainable budgets into the future.

Today, the senior management group met to discuss UPEI’s budget proposal that has been prepared with input from the University community through Directors, Deans, and Vice-Presidents. The proposed budget will be forwarded to the Board of Governors Finance and Audit Committee this week for their consideration. After the committee's review, the Chair of the Finance and Audit Committee will present the proposed budget to the Board of Governors for discussion and approval either at the April or May meeting.

I invite you to attend an information session about the 2014–15 budget. It will be held on Tuesday, April 15 from 2–3:30 pm in The McCain Foundation Learning Commons at AVC.

Best wishes,

Alaa

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