Photo via the University of Victoria.
In a short fifteen minute meeting on June 29, the UVic Board of Governors voted to approve their accountability plan, policy updates, and the increase of international undergraduate tuition.
Attached to the agenda was correspondence by Daniel Wang, a 4th-Year Mechanical Engineering Student and Captain of the Vikes Ultimate B Team. The correspondence asked that recreational infrastructure, including the potential for a future aquatic facility, remain part of longer-term strategic considerations. It was acknowledged as received and was forwarded to the “appropriate senior leadership” for review and consideration.
This meeting was Acting President and Vice-Chancellor Qwul’sih’yah’maht, Dr. Robina Thomas’ last meeting.
Consent Items
Included in the items were the Status Report on Capital Projects, the Due Diligence Reports 2025 — Financial Services & Occupational Health, Safety and Environment, the Research Centres Annual Report, a Statement of Financial Information for the year end on March 31, 2026, the Graduate Students’ Society Fees 2026-27, the University of Victoria Staff Pension Plan 2025 Report to Members & Financial Statements, and the 2025 Annual Reports and Financial Statements — University of Victoria Combination Pension Plan and University of Victoria Money Purchase Pension Plan.
Grouping these items under a consent agenda means that the Board acknowledged all items simultaneously and did not discuss them at length.
Regular Items
The Institutional Accountability Plan and Report for 2025/2026 was approved with no discussion. The Plan and Report includes all ministry priorities and service plans, Ministry mandate letters, UVic’s long term initiatives, institutional performance, financial performance, and anything related to strategic planning. The Board of Governors also authorized the board chair and the president to make additional edits to the plan prior to the submission of the report to the Ministry in July 2026.
The 2027/2028 Five-Year Capital Plan was also approved. This year’s 2027/2028 plan identifies seven Priority Capital projects that are valued over $5 million, which includes such as student housing, health, education, seismic safety,active transportation,[contribution?] and digital infrastructure. There are also four additional projects that are currently in the planning stage including deferred maintenance, and other infrastructure, such as seismic building updates. The value of the plan as presented in those projects exceeds almost $389 million. Now approved, the plan will be submitted to the Ministry of Postsecondary Education and Future Skills in July and the board will wait to hear back on whether or not there will be funding available for those projects.
Revisions to AD2215 Licensing Program Policy and Revisions to the Policy on Scholarly Integrity AC1105 (B) were approved with no discussion.
For the Licensing Program Policy, no substantive changes were proposed, but there were minor revisions made to update role titles and “things that were outdated.”
For the Policy on Scholarly Integrity, the proposed revisions regarded clarifying language, definitions and references, and also highlighted substantive updates including inquiry outcomes and investigations.
The 2025/26 Year End Management Statements and Budget Review was presented for information. According to the review, UVic’s revenue is approaching $953 million, with $905 million in expenses, which results in a $48 million transfer in corporations between revenue and expenses.
For core activities, according to the review, revenue is around $527 million, which has resulted in a surplus around $5 million. The corporation reserves have increased by $25 million, which brings the total reserve balance on the operating side to $180 million. The board chair clarified this includes the carry forward for departments, which allows for supportive and academic research and operational priorities.
The Endowment Fund increased from $610 million to $633 million, largely related to an investment returning about 4.2 per cent compared to 8.2 per cent the prior year. For Ancillary Operations, which includes parking and food services, the combined total was $700 000 net change in total value.
The last item presented by the Finance Committee was a proposal to increase undergraduate fees by 4 per cent for new and returning international students. For business students, tuition will increase by an additional 6 per cent. With no discussion, the board voted to approve these fees, effective on May 1, 2027.
