Universities receive $23.2 million funding based on performance

Archived Release

Universities receive $23.2 million funding based on performance

TORONTO, Feb. 8 /CNW/ - The Ontario government is providing $23.2 million in funding to universities based on the number of students who graduate and successfully find a job, said Dianne Cunningham, Minister of Training, Colleges and Universities.
"The economic prosperity of our province depends on having an educated and skilled workforce," said Cunningham. "Performance-based funding encourages our universities to keep pace with the changing needs of students and the community by providing relevant, high quality programs."
This is the second year additional funding has been allocated to universities based on each institution's performance in three key performance indicators (KPI). This year's performance-based funding is measured against achievement in:

- the graduation rate of students;
- the six month employment rate graduates of undergraduate programs; and
- the two year employment rate graduates of undergraduate programs.

Universities reported that an average of 94.6 per cent of graduates of undergraduate programs are employed after six months and 97.2 per cent are employed after two years. The average graduation rate for all Ontario universities was 73.7 per cent.
"Students and parents deserve a clear picture of the quality of education received at our universities and how they are successfully preparing graduates for the future - which is information they receive through the KPIs," Cunningham said.
In 2001-02, Ontario universities received a total of $1.72 billion in operating grants.

Backgrounder
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Universities receive $23.2 million in performance based funding

Ontario's universities each receive a portion of their operating grants based on three key performance indicators. For 2001-02, the funding breakdown is shown in the following chart.

<<
Total Allocation of $23.2 million
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Institution 6 Month 2 Year Graduation Rate Total
Employment Employment
Rate Rate
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Brock $230,457 $239,840 $231,798 $702,095
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Carleton $320,450 $362,428 $0 $682,878
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Guelph $407,628 $454,955 $637,487 $1,500,070
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Lakehead $168,127 $148,465 $78,840 $395,432
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Laurentian $82,585 $130,806 $0 $213,392
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Algoma $2,849 $4,615 $0 $7,464
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Hearst $3,169 $2,583 $0 $5,752
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McMaster $492,980 $470,085 $607,225 $1,570,290
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Nipissing $80,997 $65,435 $84,374 $230,805
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OCAD $10,293 $12,184 $0 $22,477
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Ottawa $636,548 $588,973 $420,641 $1,646,162
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Queen's $563,029 $558,449 $1,202,817 $2,324,295
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Ryerson $429,744 $423,156 $0 $852,900
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Toronto $1,515,218 $1,647,792 $2,372,748 $5,535,758
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Trent $102,492 $110,291 $56,153 $268,936
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Waterloo $626,505 $609,606 $620,827 $1,856,938
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Western $759,821 $716,732 $790,065 $2,266,617
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Wilfrid Laurier $246,254 $213,026 $333,403 $792,683
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Windsor $276,100 $283,846 $144,520 $704,467
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York $764,754 $676,732 $139,102 $1,580,588
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Totals $7,720,000 $7,720,000 $7,720,000 $23,160,000
>>

2001-02 Key Performance Indicators
By Institution
<<
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University Employment Rate Graduation Rate(3)
6 Months(1) 2 Years(2)
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Brock 95.2% 98.3% 77.7%
Carleton 92.6% 96.2% 45.5%
Guelph 94.0% 97.7% 81.9%
Lakehead 95.9% 97.3% 72.0%
Laurentian 91.2% 97.4% 62.7%
Algoma 87.9% 92.1% 38.4%
Hearst 100.0% 100.0% 50.0%
McMaster 94.8% 97.0% 79.7%
Nipissing 98.1% 98.3% 81.5%
OCAD 87.2% 90.0% 56.2%
Ottawa 95.2% 97.1% 73.8%
Queen's 95.5% 98.1% 91.2%
Ryerson 94.2% 96.7% 63.8%
Toronto 94.5% 98.0% 82.8%
Trent 93.7% 97.0% 71.6%
Waterloo 95.8% 98.2% 78.2%
Western 94.7% 96.8% 77.5%
Wilfrid Laurier 95.9% 97.1% 82.7%
Windsor 94.1% 97.0% 71.6%
York 93.8% 95.4% 68.1%
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Average 94.6% 97.2% 73.7%
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>>

Notes:

1. Percentage of 1998 graduates of bachelors or first professional degree
programs that were employed 6 months after graduation.

2. Percentage of 1998 graduates of bachelors or first professional degree
programs that were employed 2 years after graduation.

3. Percentage of year 1 students in bachelors or first professional
degree programs in 1992 that subsequently received a degree between
1993 and 1999 in any program of study.
SOURCES: Ontario Graduate Survey 1998. System average from publication.

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For more information visit www.edu.gov.on.ca
For further information: Dave Ross, Minister's Office, (416) 326-1625; Tanya Cholakov, Ministry of Training, Colleges and Universities, (416) 325-7526