Financial Data (COFO)

Here you will find timely information about COFO’s objectives, activities and initiatives.

  • Financial Reports and Highlights
    A brief description of the reports prepared by COFO
  • Reporting Guidelines
    The Reporting Guidelines (the Guidelines), established by COFO, are used by universities in the preparation of their COFO Reports to help ensure that the financial information is provided in the most comparative and consistent manner.
  • Members Only Portal
    COFO Online Reporting System, Instruction Manual

Council of Ontario Finance Officers (COFO)

An affiliate of the Council of Ontario Universities, COFO is comprised of senior finance officers from the province’s 20 universities. Its activities include producing an annual financial report on sector financial details, producing the Financial Report of Ontario Universities Highlights, as well as collecting the reports submitted by COFO members.

COFO shares and publishes information about university financial operations on this website and in an annual financial report. The report provides detailed financial information in different categories concerning the revenue and expenses for all Ontario universities and the university system in total.

For additional information about COFO, please contact:

Grace Zhuang
Finance Manager, Corporate Services
Council of Ontario Universities
416-979-2165 ext. 221

Financial Reports and Highlights

A brief description of the reports prepared by COFO

Financial Reports

An affiliate of the Council of Ontario Universities, COFO prepares an annual financial report on sector financial details that extends the sector’s commitment to transparency and accountability, by augmenting the publishing of audited financial statements by member institutions.

The Report is comprised of tables that have been compiled from submissions prepared by each publically-assisted university and its affiliated and federated institutions.

The financial information is categorized according to major fund groups: operating, ancillary, sponsored research, trust, capital and endowment, and captured in static and customized reports. The static and customized reports contain the same underlying data.

Static reports present the data in prescribed tables, whereas customized reports can be generated by users as desired, e.g. time-series analyses and institutional comparisons. An instruction manual is available to guide readers on how to produce customized reports.

Report Highlights

In addition to its Financial Report, COFO also publishes the Financial Report of Ontario Universities Highlights (the Highlights) each year. The information presented in the Highlights is at the system level: all universities, as well as their affiliated and federated colleges and universities, are included.

It is also prepared to present comparative high-level data in the following key areas by fund and by object: income sources, expenditure patterns, sponsored research income and enrolment. Comparative data has been presented typically for the last two or five years, depending on the particular graph.

University Financial Statements

The audited financial statements for each Ontario university

Click on the below links to view individual university financial statements:

Algoma University University of Ottawa
Brock University Queen’s University
Carleton University Ryerson University
University of Guelph University of Toronto
Lakehead University Trent University
Laurentian University University of Waterloo
McMaster University Western University
Nipissing University Wilfrid Laurier University
OCAD University University of Windsor
University of Ontario Institute of Technology York University