CBU BOG Approves 2024-2025 Operating Budget

The Cape Breton University Board of Governors has approved a total operating budget of $131.8 million. The 2024-25 operating budget is now the third year in which the Strategical Enrolment Management Plan has been the key input to influence budget investments. This budget anticipates a managed enrolment decline after record enrolment levels in 2023-24.

This year’s budget takes into account mandated direction from the Province of Nova Scotia on tuition increases. It also prioritizes student experience with significant investment in new, or renewed, term positions in faculty areas and student support services as CBU aligns its capacity to meet the needs of expected student enrolment for 2024-25. This budget also includes a $4.7 million contingency allowance given the potential for a revenue shortfall due to uncertainty from recently adjusted federal IRCC regulations.

“This budget is fiscally responsible and allows CBU to invest in our students, empower our faculty and staff, and remain committed to all of our strategic directions as we look to the future and strengthen the good work that is currently being done here,” says President and Vice-Chancellor, David C. Dingwall. “As an economic driver in this region, we are fully aware of current financial realities and of the challenges that the post-secondary sector is facing as a whole. Recent years have not been without challenges, and this budget allows us as an institution to focus on overcoming those challenges with high-quality programming and experience.”

Highlights of the 2024-2025 budget include:

• Increase in Bachelor of Education seats to 115 funded seats
• Maturation of Bachelor of Science, Nursing seats (full capacity)
• 63 new or renewed employment positions among CBU’s five academic schools
• 23 student and faculty support positions
• 16 administrative support positions
• Introduction of a Manager of Equity, Inclusion & Diversity to support CBU’s EDI goals and managerial framework
• New transitional bursary fund of $3.2 million for returning international students (pre-summer 2024) to be available for first degree completion.
• Refresh of classroom technology, modernization/upgrade of network/servers to improve system performance on campus
• Tuition increase averaging 9% for first-year international students (provincially mandated)
• Tuition increase of 2.5% for returning international students (provincially mandated)
• 2% tuition increase for domestic (Canadian) students (provincially mandated)

“This budget is the result of dedication and smart work by my colleagues, especially Gordon MacInnis, Vice-President of Finance and Operations who leads this process. The investments announced today will further strengthen CBU’s commitment to our students and the Cape Breton community,” says Dingwall.

The operating budget funds day-to-day operations which include student scholarships, employee compensation, building maintenance and the day-to-day operations of the University. Capital (building) projects and the Cape Breton Medical Campus are funded separately.