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Agenda Item #2.

CLOSED
REPORT TO THE BOARD OF GOVERNORS
SUBJECT
MEETING DATE

UBC BUDGET OUTLOOK


FEBRUARY 4, 2014
Forwarded to the Board of Governors on the
Recommendation of the President

APPROVED FOR
SUBMISSION
Stephen J. Toope, President and Vice-Chancellor

Presented By

Pierre Ouillet, Vice-President Finance, Resources & Operations


David Farrar, Provost and Vice-President Academic
Deborah Buszard, Deputy Vice-Chancellor and Principal, Okanagan
Ian Burgess, Comptroller
Michael Shakespeare, Associate Vice-President Finance & Operations, Okanagan

Report Date

January 16, 2014

DECISION REQUESTED

For Information

EXECUTIVE SUMMARY

Please find enclosed per annual process a preview of the University budget that will come to the Board
for approval in March.
Different audiences will look at the University budget with different lenses:
How is the University investing in its people, particularly faculty?
How is the University supporting its infrastructure?
Is the University appropriately funded?
As a result, this years format has been improved to:
Provide a University-wide perspective, including Faculty spending allocations (enabled by more
accurate budgeting at the Faculty level),
Articulate the balance between central and Faculty funding, and between infrastructure and
people;
Identify the major shortfalls and options to address them.
Key take-ways:
The Provincial model of tuition cap and operating cuts puts tremendous pressure on the sector to cut
costs and diversify revenues.
UBC continues to respond by driving deep operating efficiencies and aggressively diversifying
revenues.
Key metrics demonstrate relative success despite a challenging environment, but the lack of
public funding for infrastructure is concerning
Template revised: 5/27/2013 10:07 AM

UBCV Budget Outlook January 2014

Both campuses present central balanced budgets but Faculties are challenged
In Vancouver, revenues remain split 60-40 between Faculties and UBC-wide services. Faculty
revenue growth is mostly spent on faculty salary increases, central growth is mostly spent on
infrastructure and facilities
In the Okanagan, 75% of new revenues are invested in the Faculties
Faculties are projecting to spend down $27m of reserves in Vancouver and $3m in the Okanagan.
Most Faculties have plans to reduce costs and increase revenues to balance budgets over time but
Professional programs, particularly Law and Medicine, are challenged
To maintain its standing, UBC must address 3 major funding shortfalls:
Infrastructure (need for Provincial support) and student services (need for student engagement)
Professional programs, through pricing adjustments and targeted expansion
Research investments (federal approach and innovation strategy)

Page 2

UBC Operating Budget


2014-2015 Outlook
CONFIDENTIAL NOT FOR DISTRIBUTION
February 4, 2014
Report to the Board of Governors

Introduction

Different audiences will look at the University budget with different


lenses
How is the University investing in its people, particularly faculty?
How is the University supporting its infrastructure?
Is the University appropriately funded?

As a result, this years format has been improved to:


Provide a University-wide perspective, including Faculty spending
allocations (enabled by more accurate budgeting at the Faculty level)

Articulate the balance between central and Faculty funding, and between
infrastructure and people
Identify the major shortfalls and options to address them

Key messages

The Provincial model of tuition cap and operating cuts puts tremendous
pressure on the sector to cut costs an diversify revenues
UBC continues to respond by driving deep operating efficiencies and aggressively
diversifying revenues

Key metrics demonstrate relative success despite a challenging environment, but the
lack of public funding for infrastructure is concerning

Both campuses present central balanced budgets but Faculties are challenged

In Vancouver, revenues remain split 60-40 between Faculties and UBC-wide services.
Faculty revenue growth is mostly spent on faculty salary increases, central growth is
mostly spent on infrastructure and facilities
In the Okanagan, 75% of new revenues are invested in the Faculties

Faculties are projecting to spend down $27m of reserves in Vancouver and $3m in the
Okanagan. Most Faculties have plans to reduce costs and increase revenues to balance
budgets over time but Professional programs, particularly Law and Medicine, are
challenged

To maintain its standing, UBC must address 3 major funding shortfalls


Infrastructure (need for Provincial support) and student services (need for student
engagement)
Professional programs, through pricing adjustments and targeted expansion
Research investments (federal approach and innovation strategy)

UBCs strategic context


University ambitions
Transformative learning experience: Flexible
Learning for undergraduate teaching and
targeted professional expansion
Global excellence in key research areas
Innovation hub for BC

Provincial cuts and lack


of flexibility
BC grant cuts1
Loss of maintenance
funding2
Tuition cap
Debt cap

Major sector
transformation

1.Cost cutting

On-line consortia,
blended learning

2.Revenue
diversification

Significant investments

3.Strategic
investments

Global competition
Emerging consolidation

1.

10% inflationary loss in 5 years + 1% and 1.25% cuts

2.

$20m loss

4
4

University strategies
Academic priorities

Flexible Learning, Overall student experience (Place)


Internationalisation
Research excellence, including graduate students
Innovation (entrepreneurship, consulting)
Health (academic integration, wellbeing)

Effectiveness

Revenue diversification

IT synergies and partnerships


Finance integration,
capabilities, systems
Administrative/Operating
efficiencies
Provincial Shared Services
Change management
Communications

International enrollment
Vantage
Summer use
Professional programs
Lifelong learning
Indirect cost of research
Land revenues
Fundraising

Key metrics
Teaching

Research and Innovation

# applicants/seat

3.3

Total research funding

$519m

Average entry GPA

90%

Industry/NGO funding

$170m

Graduation rate1

78%

Spin-off companies

160

Employment 2/5 years2 93/96%

Industry partnerships

1,100

Employment relevance3 84%

Teams with e@UBC

80

Assets

Finance

Deferred maintenance4

16%

Operating deficit

$0m

Fundraising

$213m

Non-public revenues7

57%

External Capital $5

91%

International tuition

$105m

Endowment

$1,129m

External debt burden8

1.6%

Staff Pension Plan6

112%

Credit rating9

AA+/Aa1

(1) Bachelor within 6 years, Vancouver only as Okanagan is too recent; (2) 2 and 5 years after graduation; (3) BC graduates
working in positions related to their education; (4) Ratio of deferred maintenance ($578m) divided by the total value of the buildings;
(5) 91% of funding for all projects comes from donors or project revenues; 97% of this funding is raised by Board 3; (6) Goingconcern funding level; (7) Operating revenues outside of the Provincial grants as % of total revenues; (8) Financing costs/total
6
revenues; (9) S&P, Moodys

Analyzing metrics

From a teaching perspective, UBC is a leader in BC and in Canada:


Highest entry GPA in the country; only Canadian University to have
adopted broad-based admission across the board
Graduation rate in-line with peers1 and on a upward trajectory in the
Okanagan
High employment success and relevance

UBC is BCs research powerhouse and an innovation leader in Canada,


but is at risk of losing momentum on research:
UBC accounts for 70% of the research in BC, is #1 in Canada for Tech
Licensing Revenue and generates a $10 billion economic impact in BC
However, federal support for research is tapering, Provincial support for
graduate students is strikingly less that comparable jurisdictions and UBC's
world rankings are being affected

UBCs infrastructure continues to be a concern:


Financial assets well managed and relatively healthy (SPP2, endowment)
The elimination of Provincial funding for deferred maintenance continues to
be devastating (deferred maintenance above $500m, diversion of operating
resources). Seismic risk presents a safety issue
1.
2.

UBC Vancouver 78% compared to U of T 71% and McGill 81%;


attrition is party driven by mobility within the system
Staff Pension Plan

Staff and Faculty FTEs


FTEs growth versus UBC expansion All metrics indexed to 100 in 2009
160
150

Faculty

140

Staff

130

Research

120

Enrolment
Student beds

110
100

Fundraising
2009

2010

2011

2012

2013

Staff and Faculty FTE increases well below institutional growth demonstrates
significant gain in efficiencies since 2009
Staff growth driven by externally funded expansions (distributed medical program
19%, revenue-supported student housing expansion 19%), faculty support
(Faculty hires 21%, IT investment to enable Flexible Learning and efficiencies
21%, facilitation of research and innovation 9%), and fundraising (6%)

UBC Finances

Focus of this
presentation

Centrally allocated

Provincial grant

UBC-wide services1

Domestic tuition
International tuition
Research overhead

Operating
Fund
$1.5 billion

Faculty allocations2

Investment income

Faculty revenues

Ancillary dividends
Research contracts
Research grants
Endowment

(from targeted grants, own operations)

Unrestricted
Research
Fund
Restricted
funds
$0.6 billion
1.
2.
3.

Research projects
Research projects
Endowment spend3

Library, Student Services, Financial Aid, IT, HR, Buildings, Finance, Academic
initiatives , etc
UBCV - 65-75% of tuition, 50% of research overhead, operating grant; UBCO
operating grant
Mostly restricted by donors except for land endowment income of $10m9a year
already supporting strategic research and academic programs
9

Vancouver campus

10

UBCV Operating improvement roadmap


Funding pressure $million

10-11

11-12

12-13

13-14

14-15

25

25

25

25

25

Operating grant reduction

13

Operating fund invested in


building maintenance to partly
offset Provincial ACA elimination

10

11

15

22

10

15

20

25

16

32

32

Initial structural deficit

Reduction in long-term
endowment spending rate
following 2009 crisis
Progress Through the Ranks post
elimination of mandatory
retirement
Cooperative gain mandate to
fund GWI
Carbon Tax, Carbon offsets

Other inflationary pressures

12

18

24

30

60

78

86

120

139

5.5%

6.8%

7.0%

8.9%

10.1%

Total
% of Total Operating Budget

11

Summary

UBC Vancouver central budget is balanced for the 5th year in a row
Revenues remain split 60-40 between Faculties and UBC-wide services

Faculty revenue growth is mostly spent on faculty salary increases, central


growth is mostly spent on infrastructure and facilities

Faculties are projecting to spend down $27m of reserves

Most Faculties have plans to reduce costs and increase revenues to balance
budgets over time assuming that General Wage Increases are funded

Professional programs, particularly Law and Medicine, are challenged

To maintain its standing, UBC must address 3 major funding shortfalls:


Infrastructure (need for Provincial support) and student services (need for
student engagement)

Professional programs, through pricing adjustments and targeted expansion


Research investments (federal approach and innovation strategy)

12

Operating revenues, $m
Core revenues

2013-14f

2014-15b

Government grant

520

519

Domestic tuition

226

232

International tuition

112

126

Research indirect1

38

39

Investment income

38

39

Ancillary dividends

15

15

Annual revenue increase of $36m:

Admin unit

revenues3

Core revenue growth of


$21m driven by International
tuition ($14m) and Domestic
tuition ($6m)

Increase in unit-based cost


recoveries of $15m mostly
driven by student housing $10m
these revenues are offset by
matching expenses and are net
revenue neutral

On-going government pressure


949

970

132

133

Unit-based recoveries
Faculty revenues2

264

278

Total: 1,345

1,381
1.
2.
3.
4.

Government grant down $5m


(before targeted health
expansion of $4m)

Real operating cut $81m


(cumulative funding reduction in
real dollars since 20104: $81m
Indirect cost of research to fund research infrastructure
Half is Medicine, including bill-backs. Sauder and Dentistry other large
contributors
Ancillaries $171m, Athletics $25m, Building Operations $21m, IT $27m.
Including the loss in maintenance funding ($20m reduction), actual operating cut
of $1m in 13/14, $5m in 14/15 and $6m in 15/16 and assuming long-term
13
average inflation of 2% for the sector since 2010

13

Operating expenses, $m
Teaching, IT, Library

2013-14f
142

2014-15b
146

Research support

35

37

Student Services, Aid

260

2721

Development, Alumni

25

25

Community, Industry

Facilities

143

150

Administration

54

51

Faculties

708

720

1,374

1,408

(29)

(27)

1,345

1,381

Faculty draw-downs

Total recurring expenses up $34m:


$9m in Faculty salaries under
Faculties
$7m in maintenance costs, renewal
and utilities under Facilities
$10m in Student housing to cover
mortgages and operating costs of
new beds2 under Student Services
Core recurring expense up $21m
split between Faculties ($13m) and
central services ($8m):
Faculty expense increase spent on
faculty salaries (GWI and PTR3) and
teaching
Central expense increase spent on
learning support and infrastructure
Faculties continue to use reserves to
absorb inflationary pressures they
will need to further cut expenses and
drive revenues
1.

$272m budget is comprised of Student housing, Bookstore and other ancillary


operations $196m, Student Services $19m and Student financial Aid $57m

2.

Mostly covered by rental fees

3.

General Wage Increases and Progress Through the Ranks

14 14

Faculty/Central split
Share of total revenue spent at the Faculty level:

Faculty share
70%
60%
50%
40%
30%
20%
10%
0%

2011

2012

2013

2014

58% of core revenues are allocated to the Faculties

This ratio has been stable for 5 years

2015

15

People Vs. Infrastructure


Allocation of central revenue increase of $21m, in $m:
14
12
Other

10
8

Facilities

Learning

Staff comp.

Faculty comp.

Faculties

Central

Faculty expense growth mostly spent on faculty salary increases1, reflecting the University
priority on retention and recruitment of outstanding people. Most of the balance is spent on
teaching and student services in the context of increased international enrollment. As a
result, Faculties are limited in their ability to fund research investments, a competitive
issue.
Central expense growth is spent on supporting learning resources and facilities. Salary
increases are absorbed through efficiencies. Significant funding shortfalls in student
services and infrastructure.
1.

General Wage Increases and Progress Through the Ranks; PTR inflation is $5m

16 16

Key investments
Investment, $m

Central

Faculty salaries1
Staff salaries1

0.8

Faculty expenses

Faculty

Major items

GWI, PTR2

Central AAPS market adjustments

Infrastructure for increased enrolment

Learning Student
support

2.0

ISI Financial Aid $1m, Student


admission and support, Athletics

Learning Central

1.0

Library inflation, CTLT3

Learning Faculties

1.5

Flexible Learning, VSE4, Faculty support

Learning IT

1.6

Start of system renewal

Research/Innovation

1.2

UILO, International Offices

Community
Engagement

0.3

Communication; (+$1.5m one-time


seed funding for Faculty consulting)

Work environment

0.1

Sustainable assets

2.5

Total

8+3

Maintenance, commodity costs

13

$21m budget increase augmented by


$3m use of contingencies
1.
2.
3.
4.

Salaries and benefits


General Wage Increases, Progress Through the Ranks
Centre for Teaching, Learning and Technology
Vancouver School of Economics

17 17

Rationale for investments


Investment allocation reflects Place & Promise priorities:

First invest in people given the critical importance of retention and


recruitment (particularly faculty) but in the context of overall financial
restraint

Major focus on Teaching Excellence


Flexible Learning initiative providing a leading edge experience to students
(course redesign, multi-channel delivery, improved access): 37 courses
already transformed positively impacting 11,000 students; 41 courses
under way
Other investments in Learning Management systems and core student
services

Minimal investment in research infrastructure and international reach

Reallocation of operating funding to support building maintenance


given the on-going lack of Provincial funding

18

Example of efficiencies benefitting students


The Bookstore is saving students $664k this year

$250k on custom course packs by using the new fair dealing


guidelines prices (UBC was one of two major Canadian Universities
opting out of Access Copyright) and subsequently eliminating all retail
mark-up1

$269k from rental books (new books rented at 55% of new; used
books rented at 45% of new)

$145k from used books (25% less than new)

$58k from digital books

Reduction in Bookstore margin fully offset by Parking efficiencies

Better use of technology eliminating staffing needs in the parkades

1.

In order to utilize the fair dealing guidelines developed by AUCC and UBC Legal,
the Bookstore is able to recover the direct costs of producing the course packs
but cannot make a profit on their production and sale.

19

Faculty budgets
Total deficit of $27m
Faculty reserves down from $172m to $145m

3 types of strategic evolutions:

International growth and undergraduate transformation (Arts,


Science, ApSci, LFS): rapid increase in international students; Flexible
Learning to address bottlenecks and improve experience; program
transformation (targeted expansions, dual degrees) Complex transition,
financial stability over time if General Wage Increases are in line with
Provincial mandate and are provincially funded

Professional program diversification (Education, Sauder, Pharmacy,


Dentistry, Forestry): opportunities to increase role in professional
education Various levels of maturity and central support required

Challenging funding models (Law, Medicine): insufficient opportunities


for revenue diversification Need to work with government on tuition
reset for Law and on a new operating model for Medicine that better
integrates with the Health Authorities (Academic Health Center)

20

Infrastructure funding gaps


Operating, $m

140

Classroom renewal

12

Significant investment required to adapt


classrooms to new pedagogic approaches

Cyclical maintenance

10

30

Loss of government funding translates in


increased deferred maintenance and
inability to tackle seismic risks

131

175

Total

Comment

1201

Information and
Learning
Management
Systems

Current Needed

Increase capital spending to renew


Teaching, Research and Administrative
systems
Moderately increase operating spending
partly offset through efficiencies

University commitment to progressively increase annual IT funding by


$20m over 7 years and classroom funding by $4m over 5 years
Need for Provincial support on Building maintenance
Current diversion of UBC Operating fund to subsidize the maintenance budget ($10m
increasing by $1.2m annual) will not enable steady state before 2030. In the mean time,
deferred maintenance would increase by another $240m
New building projects which are 91% externally funded through fundraising or revenues
and therefore require limited operating investments, would offset half of this increase
1.

2.

$60m spent by UBC IT, approximately $60m spent by the Faculties; Total
Information Systems spending is 6% of the Universitys total budget, in light with
sector benchmarks
$1m annual budget for Audio/Video equipment, $200k on furniture

21 21

Student services funding gaps


Operating, $m

Current Needed

Comment

Student Health
and Wellbeing

11

Enhance recreation/wellbeing programs;


Close the gap on sector standards for
counseling1, health2 and disability3 services

Experiential
Learning and
Professional
Development

14

Increase Work Learn program by 30% to take


advantage of on-campus employment and
mentoring;
Increase undergraduate students going
abroad from 15% to 30%; increase
community service learning
Internship/new program development

Career support

Priority on graduate student support and


undergraduate professional skill development

15

30

Total

Current domestic tuition and student fees do not support the provision of
health and professional development services at the level needed and
expected by students.

We recommend further engaging students in conversations on better meeting


their needs.
(1) Increase counselors: 10 to 20 FTE to improve a ratio of 1:5,000 students to 1:2,500; industry standard from International Association of
Counseling Services (IACS) is 1:1,500; (2) Total students served at Student Health Services in 2012 was 40,957 but 5,786 students were turned
away between January-April 2013; Increase health services and expertise including dietician, nurse practitioners, physician and psychiatry; (3)
Increase disability advisors from 4 to 7 FTE to improve ratio of 1:452 students to U of T at 1:250.

22 22

Strategic support for Faculties


Revenues

International diversity. Increasing the geographic diversity of student pool is


critical. Both Vantage and enhanced International recruitment strategies are
essential.

International tuition. Opportunity to explore program specific tuition.

Targeted Tuition increases for Professional programs. Guiding principles


include ability to pay commensurate with future income, restructuring of
Student Financial Aid to guarantee access, grand-fathering of current
students. Example: Law JD

Professional programs growth. Significant opportunities in Business,


Engineering, Health and Education. Many departments require support
strategic (SDS) and business development (lacking today)

Very targeted undergraduate expansion. Address bottlenecks and build


excellence through scale. Example: Life Sciences

Costs

GWI. General Wage Increases must be entirely government funded

Faculty and staff attrition. Cost reduction measures are unavoidable in some
areas, particularly for Medicine and Law.

23

5 year outlook (vs 14/15 base)


Revenue growth

$m

Investment needs

$m

BC grant

(6)

Faculty deficit

(27)

Domestic tuition

24

Incremental teaching costs2

(61)

International tuition

154

Vantage dividend

10

Indirect costs of research


Land revenue (Trek)

8
13

Summer use profit

Investment income

10
1

Other1

Student Financial Aid

(7)
(24)

Faculty PTR3

(5)

Staff salaries4

(27)

Maintenance, seismic5
Flexible Learning

(5)

IT, Classrooms

(25)

Research

(8)

Tuition risk

(15)

Other6

(13)

Total

202

Total

(202)

Revenue diversification
Non-public revenues
1.
2.
3.
4.
5.
6.

14/15

15/16

16/17

17/18

18/19

19/20

56%

57%

59%

60%

61%

62%

Royalties, dividends
From increased enrolment, flowing to Faculties
Based on forecast retirements by PAIR
$0.7m p.a. for half of Merit Pay (15/16), AAPS market 14/15, Staff Pension Plan $1.8m
Includes $1.2m annual maintenance increase, operating costs of new buildings, utilities inflation, $3m seismic fund, $4m capital financing
24
Student Services, Healthy University, Innovation, Marketing; $6m contingency (3% of additional revenues)

24

Conclusions

Stronger government support is essential


GWI funding
Flexibility (professional tuition and student fees in a small numbers of
critical areas, access to debt)
Infrastructure support (building maintenance, seismic upgrades)

UBC must pursue its revenue diversification strategy


International enrollment supported by geographic diversity
Professional programs (from Masters to Certificates) supported by a
coherent organizational structure (under review)

In the mean time, further cost reductions are unavoidable


This may include attrition in Faculty and staff position

UBCs long-term success depends on its ability to maintain/enhance


excellence
Ability to attract best international students depends on Learning
Excellence (Flexible Learning) and on global Rankings
This means continuous investment in Learning and stronger investment in
key research areas current funding is not sufficient to keep pace

25

Okanagan campus

26

Summary

Central budget balanced for the 8th year


Revenues are split 50/50 between Faculties and UBC-wide services
Investments are required for infrastructure and student services

Faculties projecting $3.0m in operating deficits covered by one-time


surpluses
Campus is implementing a new faculty budget model and 5-year financial
forecasts to align revenues with activity and identify cost drivers
Faculties are developing plans to reduce costs and increase revenues to
balance budgets over time

The long-term sustainability of the University requires governmental


flexibility and further revenue diversification from international tuition,
professional programs and innovation

27

Operating revenues, $m
2013-14f1 2014-15b2

Core revenues
Government grant

67.2

66.9

Domestic tuition

33.9

34.7

International tuition

13.6

15.6

Research overhead

0.8

0.9

Investment income

Ancillary dividends

0.3

0.4

115.8

118.5

Unit-based recoveries
Faculty revenues

0.6

0.7

Admin unit revenues3

5.3

5.4

Total: 121.7

124.6

1.
2.
3.
4.

Annual revenue increase of $2.9m

Core revenue growth of $2.7m


driven by International tuition
($2.0m) and Domestic tuition
($0.8m)

On-going government pressure

Government grant down $0.6m


(before BSN program expansion
of $0.4m)

Real operating cut $9m


(cumulative funding reduction in
real dollars since 20104)

Forecast
Budget
Including Ancillaries $2m, and Athletics $2m. Excludes flow-through revenues for U-Pass.
Including the loss in maintenance funding ($740K reduction), actual operating cut of $0.2m in 13/14, in $0.7m in 14/15, $0.8m in 15/16 and
assuming long-term average inflation of 2% for the sector since 2010,
28

28

Operating expenses, $m
2013-14f 2014-15b
Teaching, IT, Library

11.4

11.5

Research support

1.0

1.7

Student Services, Aid

20.8

20.7

Alumni, Development

1.6

1.6

Community, Industry

1.0

1.0

Facilities1

18.2

18.5

Administration2

5.7

5.5

Faculties

62.6

67.3

122.3

127.6

(0.6)

(3.0)

121.7

124.6

Faculty reserve

Annual expense increase of


$5.3m mainly due to:
$1.9m in direct Faculty
investment and $2.4m
Faculty reserves
(incrementally over FY14)
$0.7m for Research support
$0.3m increase in Facilities

Research support increase of


$0.7m mainly due to:
$0.5m in innovation
initiatives
$0.2m for VPR position

1.
2.

Facilities includes Building Operations, Utilities, Security, Sustainability, Risk


Management Services, Debt Servicing and Parking Services
Administration includes Deputy Vice-Chancellors Office, Finance, Human
Resources and other administrative services

29 29

Key investments1
Investment, $m Central Faculty Major items
Faculty salaries

1.9

Investments in innovation and


international, GWI

Staff salaries

0.1

Central AAPS market adjustments

Learning Student
support

0.7

ISI Financial Aid $300K, International


student supports $200k, Athletics
$200K

Learning Central

0.2

Library $100K, IT $100K

Research

0.5

Innovation initiatives

Sustainable Assets

0.2

Maintenance

Total

1.7

1.9

1.

All investments on a recurring basis and include reallocations of existing funds

30 30

Rationale for Investments

Investment allocation reflects Place & Promise priorities

First invest in people given the critical importance of retention and


recruitment (particularly faculty) but in the context of overall financial
restraint
Major focus on interdisciplinary and international support
Additional focus on research and innovation targeting regional economic
development, health and engineering technologies and the natural
resource sector (including liquefied natural gas)

Leverage investments in Learning Management systems made in


Vancouver

Modest investment to support building maintenance given the ongoing lack of Provincial funding

31

5 year outlook (vs 14/15 base)


Revenue growth
BC grant
Domestic tuition
International tuition
Other1
Tuition risk

Total

Revenue diversification
Non-public revenues

$m
(0.8)
3.5
27.8
0.3
(7.0)

23.8

Investment needs

$m

Intl Student Financial Aid

(2.1)

Capital financing

(1.2)

Building op costs/utilities

(1.8)

Salaries

(13.1)

UBC Brand / Marketing

(0.3)

International Strategy

(7.5)

Innovation Strategy

(0.7)

Total

(26.7)

14/15

15/16

16/17

17/18

18/19

19/20

44%

46%

48%

50%

53%

56%

1. Includes ancillary dividends and endowment spending


growth
2. Per capital plan net of housing revenues

32 32