Financial Literacy

How to read your statements:Items that are classified as "Income" - Tuition Fees earned by School or Faculty / Contracts, Continuing Education, Commissions, Corporate Training, etc. / The distribution of the General Purpose Operating Grant from the Ontario MTCU to the Academic Departemts / The distribution of the Growth Grant from the Ontario MTCU to the Academic Departments. Items that are classified as Expenses: Salaries, benefits, administrative costs, supplies, etc. / Share of Central Administrative costs: Human Resources, I.T.S., Finance & Administration, Library, etc. / Departments share of Physical Resources (Director of Physical Resources, Facilities Planning, Occupational Health and Safety) / Departments share of Woodroffe Campus Services ( Technical Services, Operations and Maintenance, Grounds Services, Protection Services.). Then there is each departments Contribution Margin which is equal to their revenues minus all costs associated with that department. For the Academic Departments, there is Subvention Funding, which is allocated to assist the Academic departments achieve their "stretch targets". The "Bottom Line" or Stretch Contribution Margin is the target the Academic Departments must meet.