Province’s university funding formula report released

A report highlighting results from consultations on the future funding model for Ontario universities has been released by the Ministry of Training, Colleges and Universities.

“The consultation process has helped to inform the report which provides an important platform for the next phase of discussions about how to best fund universities so they are able to enhance their core activities of teaching and research,” said McMaster president Patrick Deane. “We are looking forward to working with the province to develop a funding formula that recognizes the nature and value of what our universities have to offer, including innovative teaching models and research activity. These activities are complementary and together enhance the quality of the education offered to our students.”

McMaster’s Strategic Mandate Agreement with the province highlights that McMaster is one of the most research-intensive institutions in Ontario. As a research-focused student-centred university our pedagogical approach is embedded in a research-intensive setting. This has informed our renowned programs and underpins the way in which we define our strategic priorities.

“One clear finding from the report is the shared focus on student success,” says Bonnie M. Patterson, President and CEO of the Council of Ontario Universities. “Ontario universities have long been committed to enhancing student outcomes – We know that the knowledge and skills of our graduates are key economic drivers of the province”.

The report notes, “Substantial time will be needed to implement changes, requiring collaboration between the ministry and universities.” McMaster will continue to be an active participant as this collaboration evolves.