648th Board Meeting Summary – October 2, 2025

The Board met in person on October 2, 2025. Minutes from the meeting will be posted on the Board of Governors website once available. The following are the highlights from the meeting:

Annual Financial Statements and Audit Findings Report for Fiscal Year 2024/25

The Board approved Carleton’s 2024–25 Consolidated Financial Statements and Audit Findings Report. For the fiscal year ending April 30, 2025, the university reported a consolidated deficit of $29.5 million. Despite this, the university maintains $1.18 billion in net assets, strong endowment performance and adjustments for employee future benefits.

The Consolidated Financial Statements were prepared by management and audited by KPMG LLP. The Audit Findings Report, prepared by KPMG, outlines the audit process, identifies audit risks and results, and highlights internal control observations. The report confirmed that there were no significant changes or differences requiring adjustment, and the statements were presented fairly in all material respects.

Strategic Integrated Plan Progress – 2025 Update

Carleton University continues to make strong, measurable progress on its Strategic Integrated Plan (SIP), advancing all strategic directions and commitments despite ongoing fiscal constraints and global uncertainty.

Research excellence remains a defining strength. Three-year average annual research revenue has surpassed $120 million, with growth across all disciplines and funding sectors. Carleton ranks first nationally in not-for-profit research income growth and international AI collaboration, and 85 researchers are listed among the top 2% most cited globally.

In teaching and learning, the university secured $1.425 million in new external funding to support instructional equipment, skills development, and micro credential innovation. Five new programs were launched in high-demand fields (Nursing, Mechatronics, Cybersecurity, Accounting, and Data Science) while the Sprott Online MBA was ranked #1 in Canada and among the Top 40 in North America.

Experiential learning continues to expand, with over 3,500 co-op placements and 156 new hands-on projects delivered in 2024–25. Carleton’s co-op program is now the fastest growing in Canada, reflecting strong student demand and employer engagement.

Philanthropic support has enabled the launch of Canada’s first Chair in Philanthropy, a Chair in Sustainability Transitions, and a Certificate in Journalism in Indigenous Communities, contributing to academic innovation and research leadership. Sustainability research remains a cross-disciplinary priority, with faculty driving impact across energy, biodiversity, pollution reduction, and clean water.

Looking ahead, Carleton will launch a new strategic visioning process, Carleton 2042: From Promise to Inclusive Impact and Prominence Together, beginning in Fall 2025, with completion expected by Summer 2026.

Senate Annual Report 2024/25

Richard Dansereau, Clerk of the Senate, presented the 2024-25 Senate Annual Report, offering a comprehensive review of the year’s activities. Throughout the academic year, the Senate:

• Received eight community presentations
• Approved 6,752 graduates
• Recognized 249 medalists
• Conferred three honorary degrees
• Introduced two new programs
• Established 18 new minors, concentrations, streams, and specializations
• Completed 4 cyclical reviews

EDI Action Plan Progress Report 2024/25

Carleton is now in Phase 2 of implementing its Equity, Diversity, and Inclusion (EDI) Action Plan. The Board received an update highlighting key institutional progress across curriculum, research, leadership development, data collection, outreach, and culture.

Major milestones include the launch of an independent Indigenous Studies program, tailored academic integrity modules, and sector-leading initiatives such as the EDI Transformation for STEM and Black and Indigenous Summer Research Internships. EDI principles have been embedded into the updated Healthy Workplace Strategy and plans to develop leadership modules and toolkit supported by a CRC Research Chairs Program stipend are underway.

Faculties continue to build EDI infrastructure through dedicated action plans, councils, and funding strategies. Looking ahead, Carleton will renew its EDI Action Plan to deepen institutional commitment and support all departments and faculties in advancing inclusive excellence.

Governor Spotlight: Julie Armstrong

Julie Armstrong, a second-year Social Work and Political Science student, brings bilingual leadership and a passion for equity to her role on the Board of Governors. Her diverse experience spans law, education, and community engagement. Learn more about Julie’s advocacy and academic journey.

Next Meeting: December 2, 2025

The next meeting of the 2025/26 Board year is scheduled for December 2, 2025. Open session meeting materials are posted one week in advance of each meeting. More information on items approved, as well as minutes from previous meetings, can be found on the Board of Governors website.

Sincerely,
Beth Creary
Chair, Carleton University Board of Governors