University of Regina students will be paying another 2.8 per cent on most tuition and fees.

The increase is part of the U of R’s 2018-19 budget.

The university says this is the 24th consecutive year that it’s had a balanced budget, with operating costs of $223 million. According to the U of R, the provincial government is increasing its funding due to record enrolment at the post-secondary institution. There are more than 15,000 students registered for classes, a 2.9 per cent increase in enrolment. Additional growth is expected in the next school year.

The university also expects to save $450,000 annually through cost-saving initiatives like energy conservation projects.

The Centre for Continuing Education is expected to bring in increased revenue. It will move into its restored location at the university’s College Avenue campus next year. The centre is projected to contribute $12.6 million to the university’s operating budget, an increase of $1.7 million over last year.

While tuition is increasing, the university says it remains below the national average in costs for students. It says it is looking at program changes and eliminating vacant positions where possible, trying to minimize the financial impact on faculty and staff.

“The University of Regina has long demonstrated a strong commitment to financial stability,” said Cathy Warner, chair of the university’s Board of Governors, in a written release. “Serving the needs of our students and strengthening our commitment to teaching, research and community are at the forefront of this budget. I’m proud of the work the University has done to identify efficiencies and seek innovative solutions to generate revenue, and, of course, this good work will continue.”

The university says it will also be adding faculty positions to keep up with student demands.