{"id":31050,"date":"2024-11-08T15:08:17","date_gmt":"2024-11-08T15:08:17","guid":{"rendered":"https:\/\/carleton.ca\/provost\/?p=31050"},"modified":"2025-04-08T10:59:42","modified_gmt":"2025-04-08T14:59:42","slug":"operating-budget-update","status":"publish","type":"post","link":"https:\/\/carleton.ca\/provost\/2024\/operating-budget-update\/","title":{"rendered":"Operating Budget Update"},"content":{"rendered":"\n
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\n Operating Budget Update\n <\/h1>\n \n \n <\/header>\n\n <\/div>\n\n <\/div>\n\n <\/div>\n<\/section>\n\n\n\n\n\n

To all members of the Carleton community:<\/p>\n\n\n\n

We are writing today to share a difficult message about the current state and projected outlook of the university\u2019s financial sustainability.<\/p>\n\n\n\n

In the past several years, the environment within which post-secondary educational institutions have functioned has experienced acute and material change<\/a>, resulting in significant sector-wide financial stress across the country. In Ontario, domestic tuition rates were cut by 10% in 2019 and have been frozen since that time. While this has been beneficial for students, it has had a destabilizing effect on Carleton\u2019s financial health, as well as that of all Ontario universities, especially when paired with a stagnated government operating grant.<\/p>\n\n\n\n

At the beginning of the 2024-25 fiscal year, it was estimated that Carleton\u2019s operating budget deficit would be $26 million. Since that time, the impact of the federally-imposed cap on international undergraduate student visas has been dramatic, resulting in a 55% reduction in first-year undergraduate international student enrolment. Simultaneously, we experienced a 35% reduction of incoming international graduate students. Due to these additional external factors, our projected operating deficit is now significantly higher and current financial forecasting suggests that it will continue to increase without serious intervention.<\/p>\n\n\n\n

It is for these reasons that Carleton has reached a point where significant measures are necessary to address annual deficits in the short and medium-term as we continue planning towards long-term financial sustainability. Action on all our parts is required.<\/p>\n\n\n\n

In response to these challenges, we are implementing a Financial Sustainability Framework, which will include cost containment strategies, revenue growth ideas, academic program renewal and an organizational excellence and optimization plan. We will share more information on these efforts as it becomes available.<\/p>\n\n\n\n

While we have a plan to address the budgetary deficit, we also recognize that there is no easy answer, and we know our community may have ideas to help us along this path. A collective effort will strengthen the university\u2019s response to the financial challenges facing us as we move forward. We welcome you to share your thoughts and suggestions through the Provost\u2019s website<\/a>.<\/p>\n\n\n\n

Despite the circumstances we are facing, we are committed to shaping a hopeful future for the university. Carleton is a strong institution with excellent academic programs and an impressive research record; we must not jeopardize these as we address existing financial realities. This will require consciously moving away from the status quo while continuing to uphold our academic mission and prioritize the student experience.<\/p>\n\n\n\n

We are committed to sharing information about these ongoing changes in a transparent way. All community messages related to Carleton\u2019s budget will be posted on the Provost\u2019s website<\/a>.<\/p>\n\n\n\n

L. Pauline Rankin<\/strong>
Provost and Vice-President (Academic)<\/p>\n\n\n\n

Angela Marcotte<\/strong>
Interim Vice-President (Finance and Administration)<\/p>\n","protected":false},"excerpt":{"rendered":"

To all members of the Carleton community: We are writing today to share a difficult message about the current state and projected outlook of the university\u2019s financial sustainability. In the past several years, the environment within which post-secondary educational institutions have functioned has experienced acute and material change, resulting in significant sector-wide financial stress across […]<\/p>\n","protected":false},"author":2,"featured_media":30475,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[24,110],"tags":[],"class_list":["post-31050","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-operating-budget"],"acf":{"cu_post_thumbnail":false},"_links":{"self":[{"href":"https:\/\/carleton.ca\/provost\/wp-json\/wp\/v2\/posts\/31050","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/carleton.ca\/provost\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/carleton.ca\/provost\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/carleton.ca\/provost\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/carleton.ca\/provost\/wp-json\/wp\/v2\/comments?post=31050"}],"version-history":[{"count":4,"href":"https:\/\/carleton.ca\/provost\/wp-json\/wp\/v2\/posts\/31050\/revisions"}],"predecessor-version":[{"id":31054,"href":"https:\/\/carleton.ca\/provost\/wp-json\/wp\/v2\/posts\/31050\/revisions\/31054"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/carleton.ca\/provost\/wp-json\/wp\/v2\/media\/30475"}],"wp:attachment":[{"href":"https:\/\/carleton.ca\/provost\/wp-json\/wp\/v2\/media?parent=31050"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carleton.ca\/provost\/wp-json\/wp\/v2\/categories?post=31050"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carleton.ca\/provost\/wp-json\/wp\/v2\/tags?post=31050"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}