2026-27 All Funds Budget was approved by the Board of Governors on April 16, 2026
The University of Manitoba's 2026-27 All Funds Budget was approved by the Board of Governors on April 16, 2026. The budget totals $1.23 billion across all funds, with a balanced operating budget of $858 million in revenue, a figure that reflects careful management of pressures facing the university and the broader post-secondary sector.
"This budget is responsibly balanced,” says Michael Benarroch, President and Vice-Chancellor of UM. “It takes a measured approach to the financial risk associated with declining international enrolment while directing resources to important priorities like supporting units with wage increases, and targeted investments that will advance our strategic plan and initiatives that will help us reduce costs and increase revenue in the long run.”
The 2026-27 budget continues to advance the priorities laid out in MomentUM: Leading Change Together, the University of Manitoba’s Strategic Plan, with investments in Truth and Reconciliation, as well as equity, diversity, and inclusion initiatives. It will be discussed further at the annual Budget Town Hall in the Fall of 2026.
The provincial government provided a two per cent increase to UM's operating grant, providing $8.5 million in additional funding. Tuition rate changes and enrolment assumptions contribute an additional $10.5 million, for a total revenue increase of approximately $20 million. However, expenditure increases for the year total $32 million. This budget makes up this $12 million gap by using strategies such as vacancy management, carryover reserves, and budget redirections.
A central challenge shaping this budget and future ones, is the continued decline in international student enrolment. International undergraduate students pay approximately four times what domestic students pay. This budget assumes a further 20 per cent decline in first-year international undergraduate enrolment in Fall 2026, representing a 9.4 per cent overall decline in undergraduate international enrolment over the prior year.
Domestic enrolment is expected to grow by three per cent, but this does not offset the lost international tuition revenue.
The 2026-27 tuition schedule was also approved at the April 16 meeting. International undergraduate tuition will increase by eight per cent. Graduate tuition will increase by four per cent, and the graduate continuation fee will rise from $675 to $800. And domestic undergraduate tuition will increase by four per cent, in line with provincial direction.
Despite these increases, UM's domestic tuition rates remain among the lowest in Canada. Compared to the Western U15—which includes UBC, University of Alberta, University of Calgary, and University of Saskatchewan—UM’s tuition is 18 to 37 per cent lower across selected programs.
To support students facing these costs, UM flows approximately $90 million to student supports annually, which includes scholarships, awards, bursaries, and programs that support student employment such as research and teaching assistantships . This latest budget also continues to invest an additional $6.2 million for undergraduate and graduate student financial support, including $540,000 for international students as part of strategic investments.
Students also identified two priorities that have been permanently funded: a supply of free menstrual products across campus, and expanded library investment in open educational resources.
Under Creating Knowledge That Matters, $2.4 million has been invested in internal research grants, comprehensive team grants, and a new $500,000 investment in quantum technologies and aerospace expertise.
Under Reimagining Engagement, $12.9 million has been allocated, including $7 million toward capital and infrastructure priorities such as deferred maintenance, learning space upgrades, and accessibility improvements, as well as resources for UM's climate action plan, an Indigenous identity project, and operational costs for the Desautels Concert Hall.
The budget includes a multi-year outlook that projects expenditure increases will continue to outpace revenue growth in coming years. To manage this risk, the university maintains a central fiscal stabilization reserve of $30.2 million, and faculties and units maintain carryover reserves of up to 10 per cent of their budgets.
Creating space for everyone to thrive is more than a goal—it’s who we are. Fostering a vibrant community is among the commitments you’ll find in MomentUM: Leading change together, the University of Manitoba’s 2024–2029 strategic plan.
