The Saint Mary's Budget
The budget supports the academic mission of the university and its focus on teaching, learning and research, and student success.
Financial Services, under the direction of the Vice-President, Finance & Administration and the Executive Management Group, in consultation with senior leaders and groups across campus, leads the budget planning process. The goal is to ensure continued financial sustainability while supporting our strategic priorities and meeting the changing needs of the university, students and the communities we serve.
Budget and financial sustainability updates
- University Update and Meeting Invitation
Email to the Saint Mary's community on Apr. 23, 2024 - Update on University Finances and Fiscal Year 2024-2025 Budget Process
Email to the Saint Mary's community on Apr. 3, 2024 - Information re: Province's funding announcement for 2024-25
Email to the Saint Mary's community on Feb. 6, 2024 - University Financial Update from President Summerby-Murray
Email to the Saint Mary's community on Jan. 23, 2024
In Fall 2023, the Executive Management Group (EMG) recognized the need for an enhanced budget review process that would involve input from all areas of the university to make recommendations to EMG for action.
A number of committees have been established and have been meeting regularly to carry out this work.
Learn more about our budget committeesBudget model
The university is a not-for-profit institution and like other Canadian universities, uses the fund accounting method. Fund accounting separates financial resources into distinct funds that are used for specific purposes or activities.
Saint Mary’s has three fund categories:
General Fund
The General Fund includes:
- The Operating Fund pays for day-to-day operations, including instruction and program delivery, academic and administrative support, community outreach, ancillary operations (e.g. bookstore, food services, parking) and other operating activities. It is unrestricted; it can put used toward any activity related to the university’s academic mission.
- The Projects and Reserves Fund is for internally restricted special projects and reserves.
Restricted Fund
The Restricted Fund includes:
- The Capital Fund used to pay for the renovations, construction and improvements to land, equipment and buildings.
- The Research Fund supports university researchers and includes funds received from federal government granting bodies for research such as NSERC and SSHRC.
- The Trust Fund is designated for activities stipulated by donors.
- The Specific Purpose Fund supports externally restricted specific activities.
Endowment Fund
The Endowment Fund represents long-term investments and is permanently restricted. Original contributions (the principal) cannot be spent down by the university and earned investment income is devoted to activities specified by donors such as scholarships, bursaries, and endowed chairs.
Sources of revenue
Our revenues come from a variety of sources: tuition and fees, government grants and external funding.
Operating Fund Revenue – Fiscal Year 2023
Where the money is spent
The university’s operating budget funds the day-to-day functions of the university. People are our most important resource and so the largest portion goes to salaries and benefits for faculty and staff.
Operating Fund Expenses Fiscal Year 2023
Budget process
Each Fall, budget planning begins, as senior leaders across the university meet in committee to review budget assumptions and determine how funds will be allocated. The Executive Management Group reviews the draft operating budget and then seeks formal approval from the Board of Governors.
October to December
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Related information
General Inquiries
902-420-5400
University Security:
Emergencies: 902-420-5000
Non-emergency line: 902-420-5577
Cancellation/Closure Hotlines:
Students: 902-491-6263
Faculty & Staff: 902-491-6264
Go to the Campus Directory for faculty, staff and departments.