653rd Board Meeting Summary – October 8, 2026
The Board of Governors met on October 8, 2026. Minutes from the meeting will be posted on the Board of Governors’website once available. The following are highlights from the meeting:
Audited Financial Statements and Audit Findings Report
The Board approved Carleton University’s 2025-26 Consolidated Financial Statements and Audit Findings Report. The audited financial statements reflect a return to a consolidated surplus of approximately $15 million, growth in net assets, and an improved overall financial position. External auditors, KPMG LLP, issued an unqualified audit opinion and identified no significant deficiencies in internal controls over financial reporting. The Board noted that the results demonstrated continued commitment to sound financial stewardship, accountability and strong governance oversight.
Financial Performance and Long-Term Sustainability
The Board received the University’s annual financial report highlighting a stronger-than-anticipated financial outcome for 2025-26. The University reported an operating surplus compared with a budgeted deficit, supported by ongoing financial sustainability measures, stronger investment income, and increased government funding. Governors discussed the importance of continuing multi-year planning initiatives to address longer-term challenges, including enrolment pressures, rising costs and infrastructure renewal needs, while maintaining flexibility to support strategic priorities.
Senate Annual Report
The Board received the Senate Annual Report for 2025-26, which highlighted significant academic governance activities over the past year. Senate approved nearly 7,000 graduates, introduced new academic programs, advanced governance modernization initiatives and approved a new Policy on Petitions and Appeals. Governors noted Senate’s continued engagement in strategic planning activities and its efforts to strengthen academic governance through professional development and policy renewal.
Student Success and Academic Innovation
The Board received updates on initiatives supporting student success, enrolment growth, and academic excellence. Highlights included strong participation in Fall Orientation activities, increasing co-op employment opportunities, the launch of new academic programming in Systems Security Engineering and Mineral Exploration and Resource Management, and expanded academic supports for students. The Board noted continued efforts to enhance the studentexperience while responding to workforce needs and emerging areas of academic opportunity.
Advancing Research Excellence
The Board received an update on research achievements and external funding successes across the University. Faculty members received significant national and international recognition, while research teams secured major funding awards from federal granting agencies and philanthropic organizations. These accomplishments continue to strengthen Carleton’s research reputation and support impactful scholarship across a wide range of disciplines.
Inclusion, Well-Being and Community Engagement
Governors received updates on initiatives advancing inclusion, accessibility, student well-being and community engagement. Highlights included progress on consultation activities led by the Presidential and Provostial Task Force on Community Healing, Rebuilding and Belonging, expanded mental health and accessibility initiatives, support for equity-deserving communities, and continued efforts to foster an inclusive and welcoming campus environment. The Board also noted the University’s leadership in sustainability and climate action initiatives.
Partnerships and Institutional Impact
The Board heard updates on major partnerships and community engagement activities that continue to advance Carleton’s role as a leading post-secondary institution and community partner. These included new international collaborations, significant research partnerships, fundraising successes, alumni engagement activities and discussions regarding the development of a future high-performance aquatic facility in potential partnership with the City of Ottawa and other stakeholders.
Looking Ahead
The Board discussed ongoing work related to the Towards Carleton@100 strategic planning process, development of a new budget model, long-term infrastructure renewal and leadership recruitment activities. Governors reaffirmed their commitment to supporting Carleton’s academic mission, financial sustainability and strategic priorities as the University continues to navigate a complex and evolving post-secondary environment.
Sincerely,
Christina Tessier
Chair, Carleton University Board of Governors