Approved by the Board of Governors on April 28, Algoma University has released its 2025-26 annual operating budget, outlining a thoughtful and balanced plan to steward $122.5 million in expenditures against projected revenues of $123.6 million resulting in a modest surplus of just over $1 million.
The budget earmarks $21 million for operations and research, over $10.5 million for program delivery, and more than $9.8 million for scholarships and bursaries.
"The theme of this year's budget is protecting Algoma University's sustainability and long-term future so we can continue supporting our students' academic journeys and their future contributions to our communities," said Dr. Donna Rogers, Algoma University Interim President and Vice-Chancellor.
While this budget continues to invest in people and programs, Dr. Rogers acknowledged that the financial landscape facing Ontario universities has shifted dramatically. "Algoma University's 2025-26 operating budget differs significantly from those of previous years. For many years, we benefited from healthy surpluses, but ongoing provincial underfunding, tuition freezes, rising operational costs, and recent federal changes to international student permits are placing unprecedented pressure on our finances."
As part of the upcoming year's budget, Algoma University is employing three strategies to safeguard its long-term future. The first strategy focuses on maximizing what makes Algoma University great its core strengths that consistently support a thriving university and steady revenue. The second involves exploring new revenue opportunities, such as the introduction of three new high-demand master's programs. The third strategy is focused on targeted cost-saving measures, such as ongoing controlled hiring and the Voluntary Exit Incentive Program.
Together, these three strategies will help protect Algoma U and, most importantly, ensure the University can continue providing excellent academic and social supports for current and future students.
"It's important to let our community know that the passage of this budget will not automatically cause layoffs to happen or programs to be cut," Dr. Rogers added. "However, we must be realistic. Significantly declining revenues due largely to a more than 50% decrease in our student population mean the University must make prudent decisions and consider all options to protect our future and continue serving our students with integrity and care."
