For the past 20 years, Memorial has used an incremental budget model whereby each year’s budget is built on the previous year’s budget. Using historical spending patterns to guide future budgets makes it difficult to respond to changing goals or current needs.  

Our new budget model will include analysis of expenses and budget allocations are to be made based on the institution’s goals, priorities and current needs, rather than on historical spending patterns. 

Over a year ago, work began to develop a new budget model that includes an element for tuition attribution. This means that a portion of tuition revenue generated from new enrolments and registrations in academic units would be allocated directly to those academic units. 

Changes in budgeting will start to be implemented for the 2025/26 fiscal year. 

The budget model discussions are being led by the provost and the vice-president (Administration, Finance and Advancement).