The proposed budget for the university for 2025-2026 was approved by NSCAD University’s Board of Governors on July 3.
The budget was developed with NSCAD’s Budget Advisory Committee (BAC), which includes student, staff, and faculty representation, and was presented to the board’s Financial and Physical Resources Committee in May.
The NSCAD budget sets out spending priorities for 2025-26. The budget projects a revenue of $20,084,767 and expenses of $21,329,767 leading to a projected $1.245 million deficit that will be balanced through funds from the operating reserve.
The budget includes $1.2 million in expense reductions coming from reduced ancillary services, deferred building maintenance, and a travel and hiring freeze on non-essential positions.
“This is a difficult budget, but I am pleased to say that no academic programs or student-facing services will be affected.” says NSCAD’s Interim President and Chief Financial Officer Leanne Dowe.
‘Many financial challenges converging at once’
At the end of the 2024-2025 fiscal year, NSCAD posted a $2.3 million deficit, the university’s highest in a decade.
“Last year was a ‘perfect storm’ of many financial challenges converging at once,” says Dowe. “In 2023, NSCAD’s annual facilities grant from the province ended with the termination of our mortgage payments on Fountain Campus and it has not been replaced with other revenue sources. International student enrollment and tuition revenue continues to decline, and an overall increase in labour and materials costs due to inflation put additional pressures on our balance sheet.”
“We can’t have a repeat of last year. Like most universities across Canada, we find ourselves in a difficult fiscal reality right now. With no short-term fix in sight, everyone at NSCAD will have to work together to find sound, sustainable solutions to our structural deficit,” Dowe adds.
The Board and NSCAD’s senior leadership team are committed to leading the university to work together to reduce this shortfall. The approach will include several initiatives including:
- academic program reviews, (a deliverable within NSCAD’s bilateral agreement with Nova Scotia Advanced Education) are set to be led by NSCAD’s new Vice-President (Academic + Research) and Provost Kyla Mallett in close consultation with faculty
- a strategic enrollment and retention plan to guide sustainable student growth will be launched this year
- additional revenue streams from new and enhanced programming outlined in the bilateral agreement
More budget highlights
One bright light in the budget is an increase in support for student services. Three new roles in the Office of Student Experience will focus on student support: a student engagement specialist, a second accessibility officer, and a career and experiential learning lead. These positions were funded through vacancy management, government grants, or student levies.
Other highlights from the budget include:
- No tuition increases for domestic undergraduate students from Nova Scotia (as per provincial mandate)
- 3% tuition increases for international, out of province, and graduate students
- Budgeted step and COLA increases for staff and faculty $550,000
- New student fee of $50 per semester to fund a full-time position for the careers and experiential learning staffer to provide ongoing career support for students
- Increase in leasing and rentals. We are close to full occupancy with an increase in $48,000 year in new rentals.