Financial Transparency and Accountability

Home Leading Practices Financial Transparency and Accountability

Committed to Strong University Financial Transparency and Accountability

Home Leading Practices Financial Transparency and Accountability

As economic anchors in their communities and autonomous institutions, Ontario’s universities remain committed to strong fiscal management, transparency, accountability and stewardship of the resources they receive, as they continue to serve our students, communities and the province.

Ontario universities have worked together with their community stakeholders and government to establish robust accountability policies and have articulated leading practices in good university board governance to ensure strong fiduciary oversight and open and transparent decision-making.

Ontario’s universities will continue to demonstrate leadership by ensuring comprehensive financial information is publicly available and accessible.

Universities are committed to working with their partners in meeting the needs of students and a changing labour market as well as fostering research, innovation and economic growth in communities throughout the province.

 

Leading Practices in University Board Governance

All Ontario universities have leading practices in university board governance to ensure strong financial oversight and open and transparent decision-making. In carrying out their fiduciary responsibilities over autonomous institutions, university boards play a critical role in leading strategic priorities and oversight, including overall strategy, fiscal integrity, risk management and financial sustainability of the university.

Learn more about the core elements of leading practices in governance across Ontario’s universities:

Learn More

Financial Health and Transparency Framework Plan

Ensuring effective, transparent and responsible governance and financial accountability is a top priority for all Ontario universities. To demonstrate a sector-wide commitment to financial health, universities have developed the Financial Health and Transparency Framework Plan. The framework outlines how universities will enhance existing accountability measures to ensure their financial health through the ongoing monitoring of the financial position of universities.

Learn more about the Financial Health and Transparency Framework Plan:

Learn More