McGill’s Budget Since Fiscal Year (FY) 2007 in Brief - PowerPoint PPT Presentation

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McGill’s Budget Since Fiscal Year (FY) 2007 in Brief

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  1. McGill’s Budget Since Fiscal Year (FY) 2007 in Brief Justin Marleau Vice-President of AGSEM – Teaching Assistants

  2. McGill’s Budget is Divided into Four Funds • Operating Fund • Fund dealing with day-to-day operations, ‘unrestricted’ -> can be used for anything • Restricted Fund • Fund dealing with day-to-day operations, research and other projects -> restricted • Plant Fund • Capital assets of the university -> restricted • Endowment Fund • The pool of money bequeath to the university in donations and gifts -> some unrestricted, most restricted

  3. Let Us Focus on The Operating Fund First • Why? • CREPUQ uses it to justify the underfunding of the Quebec University system1 • Will look at • Revenues over time • % of revenues to different activities over time • Then look beyond operating revenues when comparing across universities • McGill compared to U of T

  4. McGill’s Operational Revenues Have Increased over 30% since FY 20072 Note: FY 2011 is only 11 months, hence the ‘drop’ in revenues

  5. McGill Has Received An Extra $398.7 Million Since FY 2007 (compared to FY 2007 baseline) • Where has that money gone? Only a few possibilities • Academic Salaries • Administrative Salaries • Student Salaries • Student Aid • Benefits • Non-Salary Expenses (including interfund transfers used for capital purchases)

  6. 43% Has Gone to Administrative and Non-Salary Expenses3 Should we prioritize differently?

  7. Comparing McGill and U of Toronto • Is McGill underfunded compared to U of Toronto? • To compare, we need to look at funding per full-time equivalent student • McGill in FY 20124: 30607 FTEs • U of Toronto FY 20125: 68088 FTEs

  8. Based on Operating Revenues Alone, There is a Gap, But Not with Total Revenues • Operating Revenues • U of Toronto: $1,892.9 million -> $27,800 per FTE • McGill: $709.8 million -> 23,190 per FTE • Total Revenues • U of Toronto: $2,403.4 million -> $35,298 per FTE • McGill: $1,141.3 million -> $37,288 per FTE

  9. Can’t Just Look at Operating Revenues to Determine Level of Funding • Quebec likes to ‘restrict’ funds more than other provinces • They have to be used for specific purposes, which can still be quite broad. • Quebec also gave much more research funding and capital grants compared to other provinces • These grants still fund students and education

  10. Is McGill Underfunded? • There is little evidence of that when you look at total revenues • Even in operating revenues, McGill has been doing well in the last five years, though that looks to change with the PQ

  11. References • 1. http://www.crepuq.qc.ca/IMG/pdf/Etude_CREPUQ_2013_Niveau_Ressources_2013-01-15.pdf • 2. McGill Financial Reports - 2006: http://www.mcgill.ca/senate/sites/mcgill.ca.senate/files/d06-12financialreporttothebog2005-2006.pdf • 2007 and 2008 due to restatement: http://www.mcgill.ca/senate/sites/mcgill.ca.senate/files/D08-09_University_Financial_Report.pdf • 2009: http://www.mcgill.ca/vpadmin/sites/mcgill.ca.vpadmin/files/742041-McGill-University-Client-09.pdf • 2010: http://www.mcgill.ca/senate/sites/mcgill.ca.senate/files/D1008FinancialReporttoBOG.PDF • 2011: http://www.mcgill.ca/senate/sites/mcgill.ca.senate/files/d11-24_financial_report.pdf • 2012: http://www.mcgill.ca/senate/sites/mcgill.ca.senate/files/d12-25_appendix_a_financial_report_to_the_board_of_govenors_2012.pdf

  12. References • 3. See data tables for raw data used for the calculation. All derived from financial reports in reference 2. • 4. p.5 of the FY 2012 report given to the Board of Governors. See reference 2. • 5. University of Toronto Financial Report : http://www.finance.utoronto.ca/Assets/Finance+Digital+Assets/reports/financial/2012.pdf

  13. Data Tables All in $Millions

  14. Data Tables