Further to communications from last week, the Board of Regents approved a $468.6 million operating budget for 2025-26 (excluding Medicine) that includes $13.68 million in investments and a base expenditure reduction of $20.85 million. Achieving this significant and necessary reduction in expenses to align spending with revenue will necessitate difficult decisions. It is, however, fundamental to ensuring the long-term sustainability of our university.
To ensure this work is resourced, informed by data and transparent to the community, the incoming president and I asked the Board of Regents to reactivate the vice-president (finance and administration) and vice-president (advancement and external relations) portfolios. The Board approved the recommendation on July 16, 2025, with an implementation date of Aug. 25, 2025.
The financial challenges facing Memorial are serious and demand immediate attention. This change in vice-president portfolios will advance the keys to our success, including building and implementing a new budget model; identifying, assessing and mitigating financial risks; and fostering trust across stakeholder groups, including donors and supporters. Broadly, this structure — which aligns Memorial University with other Canadian universities — will ensure we are supported by expert leadership in both financial sustainability and institutional advancement. The incoming president is committed to reviewing the entire senior leadership structure during the first six months of her tenure, which begins Aug. 11, 2025.
Further to this announced change, a search for a permanent vice-president (finance and administration) will begin immediately. In the interim, effective Aug. 25, 2025, Trudy Pound-Curtis, FCPA FCA, has been appointed vice-president (finance and administration) on a contractual basis until Nov. 28, 2025. Ms. Pound-Curtis brings extensive experience in university finance and administration, having served in senior roles at York University and here at Memorial. Since June 2, 2025, she has been working as executive advisor (finance) on two important priorities: developing a new budget model; and identifying, assessing and mitigating financial risks. This work will continue as she takes on the full role of interim vice-president.
I’m equally pleased to share that Lisa Browne will resume her permanent role as vice-president (advancement and external relations), a position she was appointed to in 2021. In March 2023, Ms. Browne was asked to lead a portfolio that merged her permanent position with that of the vice-president (administration and finance). Please join me in thanking her for her steady leadership and collaborative spirit during a period of unprecedented disruption and transition. We will continue to rely on her expertise as we contemplate our next strategic plan, advance our fundraising efforts, celebrate our 100th anniversary and more boldly promote Memorial to the world.
These appointments reflect the university’s commitment to strong, focused leadership as we navigate a complex and evolving landscape. Our dedication to academic quality and the student experience is unwavering, as is our commitment to delivering social and economic value for Newfoundland and Labrador.
