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Financial Highlights


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Honour Roll

Financial Highlights

  • The university's operating budget funds the operations of the university, including Sir Wilfred Grenfell College and the Marine Institute campuses. A grant is also provided to the Harlow Campus in Essex , England . 
  • The university's unconsolidated operating expenditures for fiscal year 2004 were $230 million.
  • The provincial government operating grant increased 11.09 per cent over fiscal year 2003. The increase provided for salary increases and associated benefits and included the cost of tuition fee reductions.   
  • Although tuition fees were reduced a further 5 per cent in fiscal year 2004, revenue generated by student fees increased due to increased enrolment, higher retention and more aggressive recruitment.
  • Included in government grants is the second year of funding from the Canadian government in the amount of $3.627 million to offset the indirect overhead costs of research.
  • Seventy-three per cent of expenditures in the operating fund were spent in the academic, library and student services functional areas.  
  • Library holdings totaling $6 million were purchased in fiscal year 2004.
  • Entrance scholarships in the amount of $1 million were issued to students entering Memorial University .    
  • The university implemented a deferred maintenance program in fiscal year ended 2004. To date, approximately $5 million has been spent on various deferred maintenance projects.
  • The university's external auditors issued an unqualified audit report on the financial statements for the 2004 fiscal year.

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