{"id":35332,"date":"2025-07-09T09:56:39","date_gmt":"2025-07-09T16:56:39","guid":{"rendered":"https:\/\/blogs.ufv.ca\/announce\/?p=35332"},"modified":"2025-07-17T10:17:25","modified_gmt":"2025-07-17T17:17:25","slug":"ufv-annual-budget-process-update","status":"publish","type":"post","link":"https:\/\/blogs.ufv.ca\/announce\/2025\/07\/09\/ufv-annual-budget-process-update\/","title":{"rendered":"UFV annual budget process update"},"content":{"rendered":"<p>The UFV Board of Governors annually endorses the budget planning principles prepared by Budgets and Resource Planning for the upcoming fiscal year. The 2026-27 budget principles have been approved and are now publicly <a href=\"https:\/\/www.ufv.ca\/budgets\/\">available at this website<\/a>.<\/p>\n<p>These principles serve as a framework for the budget development process and guide financial decision-making across the institution.<\/p>\n<p>Each year, the financial planning landscape shifts in response to regional, provincial, national, and global factors.<\/p>\n<p>This year, UFV is navigating several emerging challenges, including:<\/p>\n<p>\u2022 Changes to US trade policies and new tariffs are disrupting global markets and fundamentally reshaping the international trading system, causing significant economic uncertainty.<\/p>\n<p>\u2022 Tighter restrictions from the federal government on international study permits, changes to post-graduate work permit requirements, and other changes to policies and procedures around temporary Canadian resident application processing are causing significant declines in international student enrollments across the post secondary sector in Canada.<\/p>\n<p>\u2022 Previous population projections for the Fraser Valley have recently stabilized due in part to limitations on the intake of new and temporary residents to Canada.<\/p>\n<p>\u2022 UFV\u2019s current Collective Agreement expired on March 31, 2025. The provincial mandate for the next round of bargaining has not yet been announced.<\/p>\n<p>\u2022 The 2025-26 provincial budget has projected annual deficits that have increased significantly to over $10 billion based on the decline of the province\u2019s gross domestic product and rising cost pressures. This deficit could lead to B.C. budget decisions that impact the post-secondary sector.<\/p>\n<p>UFV has consistently applied its budget principles to support the university\u2019s financial sustainability through changing conditions and past financial challenges and will continue to do so moving forward. As we look ahead, UFV remains committed to fostering collaboration across the institution, aligning efforts with our strategic goals and priorities, and ensuring the long-term resilience of the university.<\/p>\n<p>Mark Brosinski<br \/>\nDirector, Budgets &amp; Resource Planning<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The UFV Board of Governors annually endorses the budget planning principles prepared by Budgets and Resource Planning for the upcoming fiscal year. The 2026-27 budget principles have been approved and are now publicly available at this website. These principles serve as a framework for the budget development process and guide financial decision-making across the institution. &#8230; <a title=\"UFV annual budget process update\" class=\"read-more\" href=\"https:\/\/blogs.ufv.ca\/announce\/2025\/07\/09\/ufv-annual-budget-process-update\/\">Read more<\/a><\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"generate_page_header":"","footnotes":""},"categories":[2,11],"tags":[],"class_list":["post-35332","post","type-post","status-publish","format-standard","hentry","category-news","category-ufv-today"],"_links":{"self":[{"href":"https:\/\/blogs.ufv.ca\/announce\/wp-json\/wp\/v2\/posts\/35332","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.ufv.ca\/announce\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.ufv.ca\/announce\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.ufv.ca\/announce\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.ufv.ca\/announce\/wp-json\/wp\/v2\/comments?post=35332"}],"version-history":[{"count":5,"href":"https:\/\/blogs.ufv.ca\/announce\/wp-json\/wp\/v2\/posts\/35332\/revisions"}],"predecessor-version":[{"id":35360,"href":"https:\/\/blogs.ufv.ca\/announce\/wp-json\/wp\/v2\/posts\/35332\/revisions\/35360"}],"wp:attachment":[{"href":"https:\/\/blogs.ufv.ca\/announce\/wp-json\/wp\/v2\/media?parent=35332"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.ufv.ca\/announce\/wp-json\/wp\/v2\/categories?post=35332"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.ufv.ca\/announce\/wp-json\/wp\/v2\/tags?post=35332"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}