Shared responsibility to support capital priorities
The University Fund was created as part of the SHARP budget model as the main central source of funding for strategic institutional initiatives and contingencies/emergencies as needed.
The University Fund is funded by contributions from the revenue-generating areas of the University – the Faculties, School of Continuing Studies, and Ancillary Services – and from revenues that cannot be easily attributed to a specific Faculty, such as interest income and University rental income.
On an annual basis, the University Fund makes time-limited commitments to projects and initiatives based on requests submitted by Faculties and shared services units. The requests are reviewed and discussed by the University Fund Council (UFC), who advise the President on final funding decisions.
Purpose of the Fund
Strategic Initiatives
In large part, the fund provides for institutional priorities, assistance for special projects undertaken by Faculties or units, and/or to help alleviate challenges.
Tailored Faculty Support
A portion of the fund is used to support some Faculties, as needed.
Contingency
A portion of the fund is used to help manage institutional risks and mitigate the impact of unforeseen costs.
How it supports the University
As reflected in the Multi-Year Budget Plan (2023-24 to 2025-26):
$79 million
capital investment to support the Student System Renewal Program (SSRP)
$8 million
committed in the SHARP budget model to advance the UAP priority Knowledge for the Future, in alignment with the Strategic Research Plan
$2.6 million
over two years to critical infrastructure updates to YSciCore advancing excellence in research and teaching.
$2 million
committed to provide bridge funding for faculty complement growth and renewal specifically pertaining to research amplification, intended to support up to 40 strategic hires
$510K
for the Office of Sustainability, which will advance campus sustainability initiatives, increase experiential learning and research opportunities, and use the campus as a living laboratory
$500K
for the Sustainability Innovation Fund starting in fiscal year 2023-24
$400K
to establish Green Buildings Standards helping guide and direct design professionals to implement improvements for new buildings, renovations, and retrofits towards York’s goal of becoming a net-zero University by 2039
Governance
The University Fund Council (UFC) advises the President on the utilization of the central University Fund.
The mandate of UFC is to provide recommendations and advice to the President and Vice-Chancellor on the allocations from the University Fund to support University priorities.