Next Year

Budget 2027-28

Simon Fraser University is committed to financial accountability and transparency. Guided by our four priorities outlined in What’s Next: The SFU Strategy and the Academic Plan, we are working towards our vision to be a leading research university advancing an inclusive and sustainable future.

To help make informed financial decisions, and in alignment with our requirements in Policy B10.05, the university creates a yearly budget that guides academic program delivery and administration of the university.

Responsible financial management

SFU is committed to operating within its means while planning ahead. As the sector’s financial pressures have increased, SFU has strengthened our financial processes to better support planning and decision-making.

Multi-year budget planning and workforce planning are now a standard part of our annual budget process, which ensures that we make sound decisions today to build a strong sustainable future. The changes we have made and work we have done to-date have put SFU on solid financial ground, and it is important for all of us to understand that this work will have to continue to maintain our financial position.

Budget process

The budget process begins with multi-year financial planning over the summer months, followed by strategic planning meetings with Faculties and administrative units to review plans and financial requirements. Final budget allocation decisions are guided by key principles including alignment with the institutional What's Next Strategy, Academic Plan, and other university-wide plans, as well as a focus on long-term financial sustainability.

SFU is committed to open and inclusive budget planning. Annual information sessions for faculty and staff, combined with online consultations and surveys conducted with student societies and the broader student community, provide meaningful opportunities to share information on budget context, priorities and gather input.

After collecting insights and budget submissions from stakeholders, the Budget Office drafts a financial plan that accounts for academic, administrative, and strategic needs. This plan, detailing projected income and expenses, is then presented to the Board of Governors for approval.

Once approved, the budget guides financial decisions throughout the year and is monitored regularly for compliance. Workforce decisions stemming from the budget process will continue to be managed at the unit/department level with the support of the People & Organizational Development unit as needed. Year-end financial performance is analyzed against budget targets to inform planning for the subsequent year, ensuring SFU's continued financial health and optimal resource allocation.

Budget Cycle

PLANNING	ANNUAL FACULTY RENEWAL PLANNING (April to June): Annual faculty renewal plans are developed and submitted by faculty for review and approval by the Provost.
	OUTLOOK (April to Mid-May): Multi-year budget model refreshed based on year end results, funding level updates and new commitments.
	MULTI-YEAR BUDGET PLANS (Mid-May to July): Multi-year portfolio-level financial plans developed. Preliminary assessment of financial impacts. Quarterly Forecasts: (July, October, November to January): Portfolios update their forecasts for the current year.
CONSULTATIONS	REVIEW (September to October): Fall budget review discussions focused on multi-year impacts, opportunities, risks and strategies with portfolios, organizational investments in technology, capital infrastructure and enterprise risks are considered. Tuition fee consultations with students. Faculty & staff information session, as well as discussions with Deans, SCUP, VPs and Board.
DEVELOPMENT	DEVELOPMENT (October to November): The budget model is developed with consideration given to SFU strategy, portfolio consultations, guiding principles and updated tuition projections. Further discussions are held with senior leadership and the Board of Directors to review and approve tuition projections and key elements of the budget model.
DEVELOPMENT	ANNUAL BUDGET PLANNING (November to early January): Based on the final budget model, each faculty and unit receive their budget allocation (aka ‘reference points’) in early December and develop detailed budget and workforce plans for their unit. In addition to faculty and unit budget plans, which are closely linked to staff organizational structures, all units submit a workforce planning overview to share any future planned changes resulting from current priorities and needs. Workforce plans are reviewed all together by the Provost and key administrative leaders in April to allow for an overall understanding of changes and opportunities across the entire university.
SUBMISSION	REVIEW & APPROVAL (January to March): Portfolio level budgets are reviewed, consolidated across funds and presented to ET and Board.
SUBMISSION	BOARD APPROVAL (End of March): The final budget and financial plan for the upcoming year is reviewed by the Board of Governors. If approved, the document is published to the Finance webpage.

REGISTER FOR UPCOMING BUDGET INFO SESSION

In the fall, faculty and staff will be invited to join SFU leadership for a virtual info session that will provide insights into the university's 2027-28 budget planning process. This session will help faculty and staff better understand and engage with budgetary discussions in their departments and units. Details will be posted here when available.

Provost and VP Academic