Government funding accounts for 49% of revenues for degree-granting institutions: StatCan update

Statistics Canada has released a report of the 2015/2016 financial information of 150 university and degree-granting colleges. The report states that government funding remains the largest source of revenue for institutions, accounting for 49.1% of all revenues for 2015/2016. Provincial funding, however, decreased between these years from 41.5% to 39.1%. Tuition and other fees were found to make up a growing proportion of revenue, with an increase of $328.8M from 2014/2015 to 2015/2016. The report further notes that the largest share of expenditures goes towards staff compensation, and that capital spending has declined as a percentage of expenditures. StatCan