University Global

• Asset sale revenue in the amount of $6.87 million ($7.93 million in 2022-23) related to the sale of the Hamilton campus. The $6.87-million proceeds, along with the $0.13 million imputed interest, is offset by an allocation of $7.0 million ($8.0 million in 2022-23) to the strategic fund to be used to support strategic priorities including the new Burlington campus.

• Inter-fund revenue from contingency reserve of $1.50 million to support the English as a Subsequent Language (ESL) program.

University Global represents those costs and revenue that are University-wide and are not budgeted for by any Faculty or department, including the majority of student tuition, MCU operating grants and anticipated salary increases that haven’t yet been awarded. University Global also includes $1.95 million, representing 0.5 per cent of overall revenue ($3.90 million representing one per cent of overall revenue in 2022-23) of unallocated funding to support the Institutional Strategic Plan. These funds will be distributed to Faculties or departments throughout 2023-24 for identified projects that directly support the priorities identified in the Institutional Strategic Plan. Full details of the University Global costs and revenue are described below.

Revenue for University Global includes the following:

• Tuition of $180.05 million ($190.70 million in 2022-23) as detailed in Figure 41 on page 24.

• Grant revenue of $94.76 million ($90.38 million in 2022- 23) as follows:

– Core operating grant of $41.44 million ($48.36 million in 2022-23) – see page 29.

– Differentiation envelope of $48.42 million ($39.43 million in 2022-23) – see page 28.

– Nursing grant of $6.19 million ($4.52 million in 2022-23) – see page 31.

– Niagara Region Brock LINC grant of $0.50 million ($0 million in 2022-23) – see page 31.

– International Student Recovery Fee of $1.79 million ($1.91 million in 2022-23), which offsets the reduction mentioned above in grant revenue – see page 30.

• Interest on short-term investments of $2.20 million ($1.50 million in 2022-23) – see page 33.

• Other revenue of $2.88 million ($2.82 million in 2022- 23), which includes $0.13 million ($0.7 million in 2022-23) of imputed interest related to the sale of the Hamilton campus.

• Included in the 2022-23 budget was $0.15 million from strategic funds to offset the cost of the rapid antigen program.

Personnel costs for University Global includes $6.42 million ($1.86 million in 2022-23) related to salary and wage increases that are anticipated but not yet awarded or negotiated. Note: The salary and wage increases that were anticipated but not yet awarded or negotiated included in the Global responsibility unit in the 2022-23 Budget Report have since been allocated to the respective units and are therefore reported as such in this Budget Report. See Appendix B for further details. University Global also includes other personnel costs not allocated to any department of $0.40 million ($0.68 million in 2022-23). Offsetting these costs are budgeted savings from voluntary vacation buy back of $0.18 million ($0.09 million in 2022-23).

Operating costs for University Global include the following:

• Strategic funding to support the Institutional Strategic Plan in the amount of $1.95 million ($3.9 million in 2022-23), which was introduced as part of the operating budget for the first time in 2020-21.

• Funding of $7.0 million ($8.0 million in 2022-23) to the strategic fund related to the sale of the Hamilton campus.

• Other operating costs of $2.19 million ($2.11 million in 2022-23), which includes University memberships, allowances for uncollectable funds, payment to Niagara College related to its share of the GAME program and other University-wide expense items.