The UBC Board of Governors has approved the budget for 2021/22, setting spending priorities for the year ahead to support the ongoing recovery from COVID-19, to further UBC’s impact through key priorities, and to continue support for excellence in teaching, learning, and research.
The financial plan for 2021/22 will enable the university’s ongoing response to COVID-19, which is centred on supporting the long-term health and wellbeing of students, faculty, and staff. In 2020/21 UBC invested over $13.7-million centrally to create an enriched online learning experience in response to the pandemic, and students received over $380-million in financial support from university, as well as provincial and federal sources. The university is investing an additional $11-million in 2021/22 to support the safe return to campus this fall.
In addition to the ongoing recovery from COVID-19, UBC is committed to investing in our students, furthering our academic mandate, and promoting a more inclusive, diverse, and vibrant community. Key areas outlined in the 2021/22 budget include: supporting excellence in teaching, learning, and research; continuing to elevate our research capacity and capabilities through the President’s Academic Excellence Initiative; championing the Climate Action Plan; furthering anti-racism and inclusive excellence initiatives across UBC’s campuses; and supporting the implementation of the Indigenous Strategic Plan.
The heart of UBC’s financial approach is ensuring student success. Prior to the onset of COVID-19, the university adjusted the budget process, allocating revenue generated from the 2020/21 tuition increase directly to student-guided initiatives. Last year this generated $7.9-million of funding to support priorities including emergency financial aid, student-facing climate projects, and upgrades to student spaces. In 2021/22 this funding totals $18-million, which – based on student input – has been earmarked to support COVID-related needs for additional student financial aid to address tuition costs, the cost of living, and support for the delivery of hybrid learning and student programs and services.
Please visit the UBC budget announcement to read more about this year’s budget and the university’s priorities.