Memorial University is painting a bleak picture of its finances for the upcoming year.

In a presentation to employees late last week, the university said it expected an additional $10-12 million in costs, driven primarily by a drop in enrollment and increased inflation.

The university says it is losing as much as $7-million in enrollment, while supply chain issues will drive up costs by $3.5 million and salary increases will cost about $2 million.

The university’s total operating expenses for the 2025-26 fiscal year exceeded $462-million.