The University of Toronto plans to invest in several key initiatives and priorities next year – from expanding students’ experiential learning opportunities to hiring more Black and Indigenous faculty members – despite less than expected revenue following the Ontario government’s 10-per-cent tuition fee cut.
The balanced budget for 2019-2020, approved by Governing Council today, includes $2.77 billion in spending during the upcoming fiscal year, an increase of 3.5 per cent over the previous year.
That’s notably less than earlier projections that had the budget growing by 5.2 per cent, based on assumptions the former tuition framework would remain in place.
“The University of Toronto will continue to invest in the people, programs and physical infrastructure necessary to support a world-leading academic and research experience,” said Cheryl Regehr, U of T’s vice-president and provost.
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