The purpose of this update is to give our leadership community a clear view of the financial environment we are operating in, the expectations for Faculties and Administrative Units as we begin the 2026/27 budget cycle, and the upcoming steps in the planning process.
Our budget is the strategic enabler of our university—it resources our needs and our goals, while balancing UBC’s longer-term sustainability. This fall, as in prior years, the university's leadership has begun the comprehensive and consultative process of determining how best to utilize UBC's resources for the next fiscal year (2026/27). Coordinated planning activities on the Vancouver and Okanagan campuses are underway that will result in a consolidated budget proposal submitted to the Board of Governors in March.
Like all Canadian post-secondary institutions, UBC is navigating a challenging and uncertain financial landscape in 2025/26. Macroeconomic factors, global and geopolitical tensions, and Canada’s shifting policy landscape all contribute to diverse pressures facing the university. UBC is meeting those challenges through careful planning and a multi-year cautious budgetary approach. This is also our opportunity to rethink how we work together, harness new technologies, and pursue innovation.
Building on our efforts over the last couple of years, we continue to review operations and programs to align evolving needs with available resources. In the Okanagan a series of focused budget meetings is underway with campus leaders, while in Vancouver meetings will be held later this month between UBC’s budget team and the leaders of each Faculty and Administrative Unit to review and discuss the financial outlook for each area. Following those meetings, we will consolidate Faculty and Administrative Unit financial plans into draft budgets for each campus, before engaging in information sessions with various UBC community groups in the new year. The final budget, which will consolidate plans from both campuses, will be presented to the Board of Governors in March. More details can also be found on the UBC Finance website.
We deeply appreciate the effort and cooperation shown across the university throughout this process. This is difficult work, but together we are building a more resilient and sustainable UBC. By strengthening the university's long-term financial health we are ensuring that we have the ability to advance our shared mission of inspiring people, ideas and actions for years to come.
Gage Averill
Provost and Vice-President, Academic, UBC Vancouver
Lesley Cormack
Principal and Deputy Vice-Chancellor, UBC Okanagan
Frank Laezza
Vice-President, Finance & Operations
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