The UNA board of directors has approved the draft budget for 2025–26.
The draft presented at the Jan. 21 board meeting shows an expected 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 made available for a two-week public consultation. An information package for residents will include 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 will be available on the UNA website and will be available for download. The website will provide space for public feedback and questions.
Once the consultation is complete and the board’s finance and audit committee has reviewed the feedback, the budget will be presented to the UNA board for final approval, which is expected to occur later this month. The budget will then go to the UBC Board of Governors.
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 the park and upgrading park pathways.