Memorial University is working through the process of establishing a new budget model.

The university announced that it would be changing the way it does its budgeting last fall, in the face of significant financial issues plaguing the institution.

In an update posted to the MUN Gazette, the university says the Budget Model Working Group completed the initial design of the new revenue attribution model last fall, which outlines how money is generated and how it is distributed.

Now, MUN is beginning the shadow budget phase of the project, during which it will model budgets for the last two years using the new system to show how funding would have been distributed.

Once that work is done, a transition plan will be developed to permanently move MUN to the new model, which is expected by April 2027.