Laurentian University's Board of Governors has approved the university's annual budget for the fiscal year 2025-26, which begins on May 1. The budget focuses on improving the student experience and fostering academic and research excellence, as well as supporting the continued investments towards the 2024-29 Strategic Plan, the implementation of Laurentian University's Transformation Program, and continued investments to address capital deferred maintenance.
"The budget continues to support the objectives outlined in our Strategic Plan as well as other key institutional priorities, including the implementation of the Transformation Program. Laurentian University continues to be in a stable financial position, with positive growth supporting both our academic and research missions. Despite this, we are not immune to the pressures in the postsecondary sector and the effects of geopolitical instability. The 2025-26 budget reflects a careful and balanced approach, ensuring that we demonstrate the prudence necessary to weather disruptions." - Vern Cameron, Board Chair, Laurentian University.
When determining operational priorities, the budget development process took into consideration feedback received through the various strategic planning processes, including:
- community consultation surrounding the development of the institutional Strategic Plan, which was launched in April 2024;
- feedback gathered during the development of the Academic Plan and the Strategic Research Plan, which took place throughout 2024.
"The next fiscal year will be a significant one for Laurentian University in a number of historic ways. First, the University continues to make important progress on its obligations under creditor protection. By November 2025, Laurentian University is planning to complete the sales of the designated properties to the Province, another critical step in building the future of our institution. Second, March 2025 marked the beginning of Laurentian University's 65th anniversary, an important milestone for Ontario's only university with both a bilingual and tricultural mandate." - Dr. Lynn Wells, President & Vice-Chancellor.
For 2025-26, Laurentian University is projected to realize revenue over expenses of $1.7 million. This excludes the anticipated one-time accounting gain on sales of properties of $17.6 million, which must be added to the University's restricted reserves. This represents consolidated revenues of $228.1 million and expenses of $208.8 million.
Government changes to international student policy are affecting Laurentian University's ability to attract students from abroad, which has an impact on revenues. American trade policy also creates risks of additional costs.
As a result, academic units and administrative departments were asked to contract their operating (non-salary) spending from 2024-25 levels as part of the operating budget process. Staffing budgets remained the same, ensuring that no positions were affected by the changes needed for a balanced budget. Since Laurentian still cannot borrow, the University must continue to be prudent in the face of such uncertainty. This budget represents a careful approach that allows the University to continue to pursue its objectives while supporting its financial sustainability.
"We are taking proactive measures to ensure the University's long-term sustainability and achieve structural balance for the future. Our focus continues to be on strengthening enrolment and on growing other sources of revenue, carefully managing expenses to match our revenue projections, and investing strategically in areas that support student success, as well as academic and research excellence. As a community, Laurentian University has achieved so much and has come so far in the last three years. While the world is facing many challenges, Laurentian University remains in a solid position, and we fully intend to continue building on this progress in the years to come."- Dr. Lynn Wells, President & Vice-Chancellor.
Laurentian University's budget book for 2025-26 is available online.
