Addressing budget challenges

To address operating budget deficits and achieve structural balance, Queen's has implemented several measures.

Completed and ongoing measures have included:

• a university-wide hiring freeze
• voluntary retirement plan for faculty, librarians, and archivists
• voluntary exit initiative for select staff
• base budget reductions across faculties and share services
• position eliminations
• reduced spending on travel, technology, and procurement
• operational improvements, including service and expense sharing, and new campus partnerships

Queen’s efforts to address its structural operating budget deficit continue to be positively received by leading credit rating agencies. S&P Global Ratings and DBRS Limited (Morningstar DBRS) have reaffirmed their credit ratings for Queen’s, with S&P maintaining an 'AA+' long-term issuer credit rating and DBRS confirming an AA issuer and senior unsecured debt crediting ratings, reflecting the university's prudent management of its financial challenges.