2025–26 Budget Supports Teaching, Learning and Student Success

By Leslie Shepherd 

The Victoria University Board of Regents has approved a 2025–26 budget that will enrich the student experience through new investments in health and wellness, scholarships, bursaries and awards, enhanced eating and study spaces, and more opportunities for commuter students. 

The entire Victoria University community will benefit from renovations that will update spaces and facilities across the campus to be more sustainable, accessible and multi-use. 

The $39.6 million budget represents a modest $2 million increase from 2024–25. It will be funded by $36.8 million in revenue and the limited use of reserve funds. Separately, the university will withdraw $4.2 million from its endowment in 2025–26 to support scholarships, bursaries and student awards, a 13.5 per cent increase from the previous year. 

Victoria is also projecting to end the 2024-25 fiscal year with a balanced budget, compared to the $1.4 million deficit that was originally approved. 

“In these rapidly evolving economic times, we are working to effectively balance our fiscal responsibilities, while also ensuring we advance our priorities and commitment to enhancing the student experience and accessibility,” said Jennifer Ankrett, the university’s chief administrative officer and bursar. “This budget is guided by the university’s strategic priorities and takes into account general economic conditions and risk factors such as tariffs, inflation and interest rates.” 

A key priority for 2025–26 is delivering a more vibrant, connected and supportive student experience, in line with results from a recent student experience survey. New investments include:

1. Victoria University will add two new wellness positions in the Dean of Students Office and expand its team of wellness interns from two to three, offering personal counselling for both Victoria and Emmanuel College students. A new spiritual life intern will support community programming at Emmanuel. The Vic Well and EC Well mental wellness initiatives will offer holistic wellness programming year-round.
   
   
2.  Free lunches and programming will continue throughout the academic year for students in the Goldring Student Centre atrium lounge.
   
   
3. Overnight study hours will expand in Burwash Dining Hall, and new furniture and programming will make outdoor areas more usable and inviting.
   
   
4. Investments in commuter student services will include orientation programming and an expanded Commuter Don program.
   
   
5. Additional support will be directed toward the VOLT (Victoria Opportunity for Leaders of Tomorrow) Scholars program, which will launch the inaugural Scholars Connect on-campus weekend in June. VOLT Scholars is a program to help mostly local Black, Indigenous and/or racialized students achieve excellence. Scholars Connect is a transition program for incoming Opportunity Award students to set them up for success in their first year, and then transition them into the VOLT Scholars Program, which begins in second year.
   
   
6. The budget will also enable and amplify faculty research at both Victoria and Emmanuel Colleges, including money for the new partnership between Victoria’s Centre for Creativity and the Toronto International Festival of Authors.

Victoria’s 2025–26 capital renewal plan, included in the budget, focuses on projects that directly improve the day-to-day experience for students, staff, faculty and librarians—while also investing in reliable, sustainable and accessible infrastructure for the long term. 

High-impact projects include:

• Continuation of a major renovation of the Birge-Carnegie Building, including transforming the Reading Room into a vibrant, accessible, and multipurpose hub for students, faculty, staff and librarians. The renovations include a new state-of-the-art classroom. 
  
  
• A long overdue renovation of the Principal’s Office reception area will improve accessibility and create a more welcoming space for students and visitors. 
  
  
• New furniture for the Wymilwood Lounge will support student focus and sensory calm. 
  
  
• To support campus sustainability, Victoria will standardize garbage bins across campus to improve aesthetics and promote recycling and waste diversion.
   
• Extensive work will also be done in student residences, ranging from flooring replacement to window upgrades and air conditioning system improvements.  
  
  
• In addition, elevators will be modernized at Victoria College, Rowell Jackman Hall and the Isabel Bader Theatre, roofs will be partially replaced at Burwash Dining Hall and the Bader Theatre and pianos will be refurbished or replaced across campus.

A multi-year campus access and security improvement plan launches in 2025–26. This will include wireless lock replacements in residences, expanded CCTV coverage throughout campus and upgrades to lighting and monitoring systems.