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Annual Report 2016

Financial snapshot

The 2015-16 Operating Fund Statement reports a Structural Operating Deficit before one-time items of $7.3 million which is $0.5 million better than the approved budget of $7.8 million. 

The net operating deficit after one-time items was $3.1 million, also $0.5 million better than the approved budget.

Our audited consolidated financial statement have a clean (unqualified) audit opinion by external auditors.

Reducing the deficit

We implemented strategic hiring measures in 2015-16 to compensate for a 2.3 per cent decrease in enrolment and tuition revenues; this included an in-year hiring freeze for non-academic positions.

Looking forward 

Strategic growth plan

To eliminate our deficit and return to a balanced budget, UNB is:

  • Engaging in more intensive and integrated recruiting 
  • Building on our strategic recruitment marketing campaign
  • Building academic plans across UNB that reflect our financial reality

Integrated planning

UNB's long-range financial plan will:

  • Continue to invest in our strong academic programs and other strategic areas that will improve our financial situation
  • Align the financial plan with the academic plans currently under development to return the university to a financially sustainable model