The UNA board of directors have approved the budget for 2025–26.
The budget was approved unanimously during the board’s February monthly meeting. Directors approved the balanced budget with operating expenditures and revenues of $8.4 million. Expenditures and revenues are forecast to be 4 per cent higher than in the 2024–25 budget.
The proposed budget has been previously made available for a two-week public consultation. An information package for residents included the UNA’s strategic plan, the draft operating and capital budgets, a timeline of the budget process, as well as highlights and key changes. The package was available on the UNA website and available for download. The UNA website provided space for public feedback and questions.
With consultation complete and the feedback reviewed by the board’s finance and audit committee, the budget was presented to the UNA board for final approval during the February 18 meeting.
The budget is now expected to go to the UBC Board of Governors, and the university will assess whether expenditures are in line with stipulations of the Neighbours Fund.
Under the Neighbour’s Agreement, UBC is entitled to receive the budget 45 days before the end of the fiscal year.
The Neighbours Fund is the largest single revenue source. It is paid by UBC and covers the costs borne by the UNA to provide municipal-type services in the university neighbourhoods. For 2025–26, it is projected to bring in $5.9 million, compared to $5.6 million in the 2024–25 budget.
The UNA’s second largest revenue source comes from the fees from recreational and culture programming. Those fees are expected to earn $1.6 million, a slight increase from $1.5 million in the 2024–25 budget.
On the expenditure side, the costs of recreational and culture programming are forecast to be $3.5 million compared to $3.4 million in the 2024–25 budget. When the revenues from these services are considered, the net cost of recreational and culture programming for the 2025–26 fiscal year is $1.9 million. Administration and salary costs are budgeted at $1.8 million compared to $1.7 million in the 2024–25 budget.
The UNA’s draft capital budget for 2025–26 is forecast at $321,700, up from $190,200 in 2024–25. The largest capital item is for parks and roadway enhancement at $185,000, up from $13,200 in 2024–25. The increase is due mainly to specific projects, such as adding shading structures in a park adjacent to Wesbrook Community Centre and upgrading park pathways.