This website stores cookies on your computer. These cookies are used to collect information about how you interact with our website and allow us to remember your browser. We use this information to improve and customize your browsing experience, for analytics and metrics about our visitors both on this website and other media, and for marketing purposes. By using this website, you accept and agree to be bound by UVic’s Terms of Use and Protection of Privacy Policy.  If you do not agree to the above, you can configure your browser’s setting to “do not track.”

Skip to main content
People Departments Maps Buildings Rooms A-Z
University
of Victoria
Apply Library
Sign in Online tools Sign out
Budget

Process & implementation

Updated: October 17, 2025

What's new? Save the date and register for the November 4, 2025 Budget Model Information Session.

Background

In fall 2022, the Vice-Presidents Academic and Provost and Finance and Operations initiated a review of UVic's budget model to assess its effectiveness and look for enhancement opportunities. A Budget Model Working Group engaged in research and consultations and published a summary of findings and recommendations in summer 2023. The summary includes a set of budget model principles and values to underpin decision making.

Through this process, most UVic leaders indicated that they were open to a change or refinements to UVic's budget model. Many universities across Canada have been through or are engaged in similar exercises.

A Budget Design Committee formed in 2023 to further advance this work, culminating in a December 2024 report and recommendations.

Project timeline & milestones

Phase 1: Budget Model Working Group (2022–2023)

  • Oct. 2022 to May 2023: Researched and consulted with comparator universities, including those that have undergone budget model changes, to learn and seek advice. 
  • Dec. 2022 to April 2023: Consulted academic and non-academic leaders at UVic, including Deans' Council, Integrated Planning, Executive Council portfolios, Chairs and Directors, and others. We heard what's working well, what isn't, and values and principles that should underpin our model.
  • April to May 2023: Developed a set of principles and values based on what we've learned and heard, which was presented to Deans' Council and other leaders for feedback and revised as needed.
  • May 2023: Prepared a summary of findings and recommendations for the project sponsors based on research and consultations.
  • June 2023: Executive Council endorsed the summary of findings and recommendations. Findings were shared with Deans' Council and Integrated Planning.
  • July to Aug. 2023: Updated leaders on the key findings and outcomes of the working group as well as next steps beyond the scope of the working group.

Phase 2: Budget Design Committee (2023–2025)

  • Sept. 2023: Regular meetings of Budget Design Committee begin, to continue until the end of phase 2.
  • Jan. to May 2024: Additional consultations with budget leaders, including deans, chairs and directors.
  • June 2024: Committee progress report to project sponsors and Executive Council that includes recommendations on revenue flow, supporting policies, resources and strategic funds.
  • June to Nov. 2024: Initial revenue flow modeling and analysis. Process to continue into phase 3 and 4, as adjustments will be needed once the model is put into practice.
  • Nov. 2024: Drafting of a report and recommendations for review and endorsement by Executive Council, including foundational budget model elements and implementation strategies.
  • Dec. 2024: University budget model retreat with President's Leadership Council, to discuss the draft report and recommendations, proposed model, and implementation. Report and recommendations finalized following the retreat.
  • Jan. to Feb. 2025: Additional engagements with budget leaders, the Senate Committee on University Budget, the Board of Governors and others.

Phase 3: (2025+) - current phase

  • 2025+: The Budget Model Working Group will continue consulting, modeling, and supporting the development of related policies. This phase will also help us to prepare for the implementation of the shadow budget in the future.
  • Aug.–Sept. 2025: Consultations with each Dean to determine programming and revenue opportunities as well as cost drivers in each faculty.
  • Sept.–Oct. 2025: Engagement with the Senate Committee on University Budget.
  • Sept. 2025: Launch new Space Management and Optimization Policy as part of a parallel process led by Campus Planning and Sustainability.
  • Sept. 2025+: Regular engagement with Deans’ Council, Executive Council and Board of Governors.
  • Nov. 2025: Budget Model Information Session for faculty and staff.
  • Dec. 2025: Second annual budget model retreat with senior budget leaders.

Phase 4: Shadow budget (TBD)

  • Timing and scope still to be determined. The concept of a shadow budget process is that a new model runs alongside the current model, to determine its viability without changing outcomes. This also provides opportunities for refinements and socialization. Based on the findings from the Budget Model Working Group, the shadow budgeting process can last several years.

Phase 5: Implementation of new budget model (TBD)

  • Timing and scope to be determined based on the shadow budgeting process. Based on the findings from the Budget Model Working Group, implementation can take several years and will require a smoothing phase.

Campus engagement

Internal consultations during the first two phases of the initiative have been instrumental in designing the university’s future budget model and will continue to shape modelling and implementation.

During internal consultations, we heard that UVic leaders are open to considering a change or adjustments to the current model – particularly as it relates to incentivizing enrolment growth and diversifying and growing revenues.

There is agreement among campus leaders and community that our budget model should reflect who we are as a university and centre our value proposition to students and community. We are a research-intensive university that prioritizes high-quality education enriched by experiential learning opportunities.

We consulted leaders and units on the values that should underpin decisions about the budget and our budget model which led to the creation of our budget model principles.

Many leaders highlighted the importance of recognizing that different units have different abilities to generate revenues. Within the faculties, for example, some disciplines are well suited to offer professional programs and micro-credentials. Others may be better positioned to respond to student demand and government priorities.

As well, units and the university will need to determine an appropriate balance between revenue generation and community outreach, including to maintain good relationships with alumni, donors and external partners.

We heard that the new model should reflect our equity values, institutional commitments, and academic and research missions.

A full list of engagements in phases 1 and 2 is outline in the Budget Design Committee’s final Report and recommendations.

Implementation

Implementing a new budget model will take several years, with multiple iterations and a thoughtful rollout strategy. The next phase in the budget model implementation process prior to implementation will be operating a shadow budget in parallel with the existing budget model process.

More information on the shadow budget and implementation processes will be shared as the initiative progresses.

Proposed budget model Resources & FAQs