Statistics Canada has released an analysis of Canadian university revenues and expenditures in 2023/24. Over the course of that year, Canadian universities’ total revenue increased by $3.5B to $52.4B, while expenditures rose by $2.3B to $48.7B. StatCan reports that the revenue growth came primarily from investment income, tuition revenue, and provincial funding. Increases in expenses were noted for travel expenses; externally contracted services; buildings, land acquisitions, and improvements; and professional fees. Provincial funding generally increased in 2023/24 compared to 2022/23, with the greatest growth seen in British Columbia (12.5%) and Manitoba (10.1%); federal funding decreased by 1.5%, which was largely attributed to the conclusion of a capital project in Manitoba.
