UW board of governors approved the 2026-2027 budget which includes a projected $13-million deficit.

The decision was approved in a meeting on April 14. 

The university is projecting $892-million in revenue for the upcoming fiscal year and $905-million in expenses. The university noted that revenue is made up almost entirely of tuition fees and government grants. Expenses largely consist of salaries, wages, and benefits.

The board also approved two per cent tuition increases for Ontario students, and five per cent increases for out-of-province domestic students. The provincial government recently lifted a tuition freeze in February that had been in place since 2019.