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About the Statements

View the detailed financial FAQs

The Audited Consolidated Financial Statements report on the University’s annual financial results, taking into account all of its financial activities. University budgets and internal reporting segregate the financial impact of different activities using funds to enhance accountability and control.

Operating Fund

The Operating Fund is approved by the Board of Trustees and includes teaching and administrative activities representing about 65 per cent of the total revenues of the University. Operating fund budgets are prepared on a cash basis and budgets exclude non-cash amounts, such as accruals and actuarial adjustments. The other 35 per cent of total revenues are spread across five separate funds that include money restricted for specific and designated purposes as per below.

  Operating Fund Ancillaries Trust and Endowment Fund Research Capital Fund Consolidated Entities Total
  Budget Actual Actual Actual Actual Actual Actual Actual
Revenues xx xx xx xx xx xx xx xx
Expenses xx xx xx xx xx xx xx xx
Surplus / (Deficit) xx xx xx xx xx xx xx xx
 
 Total of revenues and expenses for all funds is reported in the audited financial statements

Ancillaries Fund

The Ancillaries Fund includes operations that provide residence, food and beverage and parking services to the community. Ancillary units are responsible for covering their full operating costs and may contribute to general operating expenditures.

Restricted (Trust and Endowment, Research) Funds

Restricted (Trust and Endowment, Research) Funds capture restricted donations and grant/ contract funding received from donors, research, or other granting agencies that may only be used to fund an intended purpose and cannot be applied to pay for other university expenses. Each restricted contribution is recorded in its own fund and managed according to agreed upon terms and conditions.

Capital Fund

The Capital Fund includes activity related to capital infrastructure on campus.

Consolidated Entities

Consolidated Entities include Bader College, the U.S Foundation for Queen’s University at Kingston, etc. A full list of these entities is included in Note one of the Audited Consolidated Financial Statements.

A breakdown of financial results by fund is presented in the management commentary section of the Annual Financial Report.

The Annual Statement PDFs

Annual Budget Reports

Report on the Annual Budget

Standard & Poor's

Dominion Bond Rating Service