University finished the 2025-26 fiscal year with small surplus, balanced budgets expected going forward
Vancouver Island University (VIU) has addressed its deficit and is now entering a new phase focused on strengthening the institution, long-term sustainability and student success.
The university finished the 2025-26 fiscal year with a surplus, based on unaudited year-end results, and will present a balanced 2026-27 budget to the Board of Governors for approval in late May. This is a significant shift from earlier projections that anticipated a multi-year deficit. Updated forecasts now show a path to balanced budgets in the years ahead.
“This is an important turning point for VIU,” said Dr. Dennis Johnson, Interim President and Vice-Chancellor. “Thanks to the hard work of the VIU community, the immediate financial crisis is behind us, allowing the university to strengthen the student experience and make the changes needed to serve our communities well into the future.”
VIU is also seeing increasing signs in prospective student interest. Domestic applications are on the rise and there is stable international demand, along with gains in admissions for Fall 2026. A new student housing building, expected to open in fall 2027, will further support enrolment growth and the student experience. While the post-secondary sector continues to face enrolment challenges, these trends are a positive sign for VIU.
The institution is also expanding direct support for students. Through the VIU Foundation, financial aid and awards have increased alongside the launch of the Ripples of Change campaign, which aims to raise $2 million by spring 2027 for student scholarships, awards and bursaries.
With a commitment to maintaining balanced budgets moving forward, ongoing work will make VIU stronger and more resilient for the future. Priorities include investing in modernized systems, addressing deferred maintenance, strengthening student supports, and continuing to align programs and operations with workforce and enrolment realities. Sustained focus in these areas will be critical to maintaining momentum and building a more resilient institution.
“VIU recognizes the commitment and resilience of its faculty, staff, students and community partners over the past several years. Their collective efforts have been critical in navigating a challenging period and positioning the university for a brighter future,” said Johnson.
-30-
Media Contact:
Jenn McGarrigle, External Communications Manager, Vancouver Island University
C: 250.619.6860 | E: Jenn.McGarrigle@viu.ca | W: news.viu.ca
The VIU community acknowledges and thanks the Snuneymuxw, Quw’utsun, Tla’amin, Snaw-naw-as and Qualicum First Nation on whose traditional lands we teach, learn, research, live and share knowledge.
Related Posts
