This page provides text transcriptions of the two videos that are posted on the Financial Overview page.
Our revenues
Video title: Queen’s University budget explainer — our revenues
Queen's University operating budget explained.
The operating fund supports day-to-day operations.
Queen's University operating revenue comes mainly from tuition and government grants.
Provincial government funding has become a smaller share of the university's total operating revenue in recent years.
The amount of provincial operating grants each university in Ontario receives is largely based on enrolment, calculated per student and weighted by subject.
In Ontario, universities have provincial enrolment caps, above which they do not receive additional grant dollars if they add more students.
Tuition fees for domestic students are regulated by the provincial government.
Tuition fees for Ontario students were cut by 10% in 2019 and subsequently frozen.
The freeze is expected to be in place at least until 2026.
The provincial government does not regulate international tuition fees.
International student enrolment is also now limited by the federal cap on international study permits, which constrains the university's ability to increase revenue through international student recruitment.
University investments provide some income to the operating fund, however due to the volatility of financial markets, the university limits dependence on these unpredictable revenues to ensure a sustainable budget approach.
Learn more about the university's budget model and how funds are allocated on the Office of Planning and Budget website.
Our expenses
Video title: Queen’s University budget explainer — our expenses
Queen's University Operating Budget Explained
Queen's primary expenses consist of the day-to-day costs required to operate the university.
Over the last several years, Queen's salary and benefit expenses have grown as a proportion of the university's core operating revenues from tuition and government grants, increasing from 64% in 2018 to 78% in 2024.
Salaries and benefit expenses have grown significantly over the past decade.
The university purchases a range of essential goods and services--such as lab and classroom supplies, software licenses, and maintenance items. Many of these supplies have seen significant price increases in recent years due to inflation.
The university provides funding for student assistance to help remove financial barriers to education.
Interfund transfers refer to the movement of money from one fund to another, a standard practice in higher education to support long-term financial management. An example of an interfund transfer at Queen's is funds allocated to capital projects to support campus development.
Managing Queen's large campuses comes with significant utility and insurance costs.
Travel and conferences are an important part of academia, fostering knowledge sharing among researchers.
Externally contracted services include construction, legal, and food services.
Renovations and alterations help keep our campus operational.
Learn more about the university's budget on the Balanced Budget Plan website