Page 28 - 12-13 Year In Review
Basic HTML Version
26
FINANCIAL REPORT
Year ended
April 30, 2013
(Actual)
Year ended
April 30, 2012
(Actual)
Sources
University base budget allocation
25,748
38%
20,970
31%
MBA programs
27,060
40%
25,289
38%
Non-degree executive development programs
10,890
16%
10,082
15%
Fundraising gifts and contributions
1
6,604
10%
6,302
9%
Less: endowed contributions
2
(1,486)
-2%
(1,031)
-2%
Less: restricted for capital project
3
(4,124)
-6%
(3,469)
-5%
Endowment income
1,956
3%
2,036
3%
Other
674
1%
613
1%
Total sources
$67,321
100%
$60,794
90%
Uses
Salaries & benefits
34,950
52%
33,362
50%
Direct program expenses
20,950
31%
21,179
31%
Student aid
2,686
4%
2,483
4%
Other
1,571
2%
1,496
2%
Queen’s University services
3,233
5%
1,337
2%
Amortization
751
1%
753
1%
Transfer to/(from) unrestricted reserves
3,179
5%
184
0%
Total uses
$67,321
100%
$60,794
90%
Notes:
1
Does not include gifts and contributions for the original Goodes Hall construction.
2
’Endowed contributions’ are those for which the principal must remain intact. The endowment generates investment income
presented on this page as ’Endowment income’.
3
’Restricted for capital project’ are gifts and contributions received for the Goodes Hall expansion project.
Statements of Sources and Uses
(all amounts in the ’000s)
Queen’s School of Business funds from various sources increased 10.6% in the 2012-2013
fiscal year as a result of strategic growth in student enrollments across several programs.
The Master of Finance (MFin), Master of International Business (MIB) and Accelerated MBA
for Business Graduates (AMBA) programs broke all previous records. The increase in the
intake of Commerce students, made possible by the Goodes Hall expansion, resulted in
more high-achieving candidates being accepted into the program.
