Ontario Universities: Tuition and endowment funding in ... · Ontario Universities: Tuition and...
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Ontario Universities: Tuition and endowment funding in perspective
Financing Higher Education in the Current Economic Climate – Selected Data
OCUFA
Toronto, 22 January 2010
Hugh Mackenzie
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Ontario's rank on key university funding metrics 2008-‐9 -‐-‐ Sta;s;cs Canada
Undergraduate tui6on (10 is lowest)
Graduate tui6on(10 is lowest)
Tui6on % (10 is lowest)
Grants % (10 is highest)
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
1989 2009
Sources of Ontario University Financing 1989 and 2009
Other revenue
Other investment
Endowment (est.)
Federal
Provincial
Other fees / sales
TuiGon
Source: StaGsGcs Canada
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Tui$on / fees vs. provincial as source of university general purposes funds 2007-‐08 -‐-‐ Source: CAUBO
Provincial %
Tui8on & Fees %
0%
10%
20%
30%
40%
50%
60%
70%
Sources of Ontario University Finance 1989 to 2009 Source: Sta9s9cs Canada Universi9es and Colleges Revenue and Expenditures
Provincial % revenue
Tui7on % revenue
Other % revenue
Tui7on net of assistance % revenue
Federal % revenue
Investment % revenue
-1%
0%
1%
2%
3%
4%
5%
6%
Share of All-Objects Revenue from Investments and Endowments 2007-08 Academic Year -- Ontario Universities
Other Investment
Endowment
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
Hypothe(cal Endowment Revenue Share of Opera(ng 3 % payout basis
Sources: CAUBO 2009 University Investment Survey and 2007-‐08 Financial Report
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
Bottom quartile Lower middle quartile
Upper middle quartile Top quartile
% of university students 16% 24% 22% 37% % of college students 22% 24% 28% 24% % of college & university students 20% 24% 25% 31% % income Households with Children 8% 18% 27% 47%
Households -- shares of postsecondary enrolment and income, by quartile
% of university students
% of college students
% of college & university students
% income Households with Children
Chart 5
-20,000
-18,000
-16,000
-14,000
-12,000
-10,000
-8,000
-6,000
-4,000
-2,000
-
$ m
illio
n Annual Tax Cut Impact on Fiscal Capacity in Ontario
1995-96 to 2009-10 ---
Debt Carrying Cost and Revenue Loss
Other Tax Cuts
Employer Health Tax Cuts
Corporate Income Tax Cuts
Personal Income Tax Cuts offset by Health Premium
Direct Debt Carrying Cost