Message from the Provost
Ryerson will be navigating an increasingly challenging fiscal environment in the years ahead. While our operating costs continue to rise, universities and colleges across Ontario are anticipating a significant reduction in base funding for 2019-20. As a result, we will have to work together to maintain a balanced budget.
Though we can all expect to face some difficult choices, we should not let this deter our vision, our path or our priorities. Promoting access to a high-quality post-secondary education is one of Ryerson’s core values and we will continue to put the needs of our students first. We have been disciplined with our budgets in the past and this has never stood in our way of offering engaging experiences to everyone on campus.
Here’s how we plan to approach the current budget gap:
- Examine ways to increase revenues;
- Target expenditure reductions;
- Implement reductions across the board, buffered over two years; and,
- Fund modest expenditures to protect core activities (e.g. have a restructuring fund and a limited number of targeted investments).
While we do need to be pragmatic about the road ahead, we can uphold the reputation Ryerson has earned as Canada’s leading comprehensive innovation university. Let’s not lose sight of what we can achieve together.
Provost and Vice-President, Academic
Process and guiding principles
Provost and Vice-President, Academic Michael Benarroch is leading an open and consultative budget process to establish Ryerson’s priorities for the next fiscal year. The six-month exercise concludes when the proposed budget is presented to the Board of Governors in April for their review and approval.
At Ryerson, we adhere to five guiding principles when preparing the annual budget:
- Prioritize students;
- Protect Ryerson’s core business;
- Be fair and transparent;
- Remain forward looking; and
- Conduct wide consultations with the community.