- 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 Harlow Campus in Essex, England.
- The university's unconsolidated operating expenditures for fiscal year 2005 were $240 million.
- The provincial government operating grant increased 5 per cent over fiscal year 2004. The increase provided for salary increases, associated benefits and included support for a tuition freeze.
- Included in government grants is the third year of funding from the Canadian government in the amount of $4.007 million to offset the indirect overhead costs of research.
- Although tuition fees had been frozen in fiscal year 2005, revenue generated by student fees has increased 4.6% due to increased enrolment, higher retention and more aggressive recruitment.
- An unqualified audit report on the financial statements for the 2005 fiscal year was issued by the university's new external auditors, who were selected through an extensive RFP process in the past year.
- 80 per cent of expenditures in the operating fund have been spent in the Academic, Library and Student Services functional areas.
- Library holdings of $5.6 million have been purchased in fiscal year 2005.
- The university's financial system received a major upgrade in the fiscal year and a finance self service module was implemented for further ease of use by employees.
- Three major capital projects were completed in the year, the Inco Innovation Centre at $17.5 million, the Petro Canada Music Hall at $2 million and the refurbishment of the St. John's Campus main dining hall at $1.7 million.
- The university completed its wireless internet installation RESNET, covering students residences on campus.
As per the Canadian Institute of Chartered Accountants' accounting guidelines, the university has this liability included in it's financial statements. The university has received prior approval from the Lieutenant-Governor in Council to exclude from the current year operating results, any amounts resulting from the recognition of the liability related to future employee benefits.