To the left is the IRC's 2024-2025 operating budget. This budget was approved unanimously 19-0 at our October 23rd general meeting.

Changes from 2023-2024 include increased House Budgets to encourage collaboration with other portfolios as well as with the Don team. Changes also include dedicated budgets for the Mural Project and for council socials to avoid taking money out of other budgets.

Extravaganza (the move-in day welcome dinner), IRC T-shirts, and Principal's Dinner are all budgeted for retroactively based on the exact amounts we actually spent. These expenditures took place before we formally drafted this budget.

With our planned expenditure and expected student fee revenue, the IRC will run an accounting deficit but a cash surplus for the year, assuming our student fee installments arrive on time. Based on historical spending timelines (and the fact that actual spending usually comes in under budget), next year's council will start the year with more than enough cash for their operating needs and plenty of margin of safety while waiting for their 2025-2026 student fee revenue. 

If you have any questions about the IRC's financial activities, please contact Jenny Lam, the IRC VP Finance, via vpfinance@innisirc.com. Should you have any feedback or suggestions, see our feedback page.