Hospital
Financials
Hospital financial highlights for the year ended March 31, 2025
SickKids is committed to operational efficiency, transparency and accountability. We support evidence-based decisions to enhance our financial health, conduct business under the principle of fiscal prudence and act with integrity and good judgment when allocating resources.
For 2024-25 the Hospital had an operating deficit of ($4.2M). Included in the deficit was $41.6M in restricted investment income that cannot be used for operations. After removing the restricted investment income, the Hospital continues to experience a significant structural deficit as it has in previous years.
The structural deficit relates to years of inflation, increases in patient volumes and acuity and other cost pressures driven by the highly specialized and complex nature of the paediatric care provided. These pressures are outpacing increases in funding from our major funder, the Ministry of Health/Ontario Health.
| Sources of Revenue | Amount (In millions) | Percentage |
|---|---|---|
| Amortization | $40.5 | 3% |
| Commercial Ventures | $59.0 million | 4% |
| Patient Care and Other | $84.4 | 6% |
| SickKids Foundation | $132.4 | 9% |
| Research Grants | $180.4 | 12% |
| Investment Income | $28.4 | 2% |
| Ministry of Health/Ontario Health | $922.3 | 62% |
| Total | $1.48 Billion |
| Sources of Souces of Expenses | Amount (In millions) | Percentage |
|---|---|---|
| Administrative and General | $38.6 | 3% |
| Depreciation and Accretion | $91.1 | 6% |
| Other Operating Expenses | $162.5 | 11% |
| Clinical Supplies and Drugs | $202.2 | 13% |
| Interest | $25.2 | 2% |
| Compensation | $961.2 | 65% |
| Total | $1.48 Billion |
| Revenues (In Millions) | Amount (In millions) | Percentage |
|---|---|---|
| Fee-for-Service | $45.4 | 5% |
| Other | $78.3 | 8% |
| Ministry of Health | $867.5 | 87% |
| Total | $991.2 Million |
| Expenses (In Millions) | Amount (In millions) | Percentage |
|---|---|---|
| Administrative and General | $22.3 | 2% |
| Depreciation and Accretion | $59.5 | 6% |
| Other Operating | $92.5 | 9% |
| Supplies and Drugs | $92.8 | 9% |
| Interest Expense | $14.8 | 1% |
| Ministry of Health | $767.7 | 73% |
| Total | $1.05 Billion |
| Hospital Investments (In Millions) | Amount (In millions) | Percentage |
|---|---|---|
| Other | $34.5 | 8% |
| Patient Support Centre Debenture Proceeds | $40.0 | 10% |
| Debenture Retirement Sinking Funds | $96.3 | 23% |
| Post Retirement Benefit Assets | $243.6 | 57% |
| Total | $414.4 Million |
| Restricted Investment Income/(Loss) (In Millions) by Financial Year | Amount (In millions) |
|---|---|
| 2020/2021 | $15.1 |
| 2021/2022 | $20.1 |
| 2022/2023 | $14.3 |
| 2023/2024 | $15.1 |
| 2024/2025 | $41.6 |
| Unrestricted Investment Income/(Loss) (In Millions) by Financial Year | Amount (In millions) |
| 2020/2021 | $0.8 |
| 2021/2022 | $1.0 |
| 2022/2023 | $7.7 |
| 2023/2024 | $13.3 |
| 2024/2025 | $14.6 |
| Sources of Research Institute Funding (In Millions) | Amount (In millions) | Percentage |
|---|---|---|
| Industry Partnerships and Commercialization Income | $2.8 | 1% |
| External Billings (Core Facilities) | $6.0 | 2% |
| SickKids Foundation | $106.3 | 34% |
| Research Grants and Awards | $198.0 | 63% |
| Total | $313.1 Million |
| Sources of Research Institute Expenditure (In Millions) | Amount (In millions) | Percentage |
|---|---|---|
| Internal Costs(Net) | $80.0 | 25% |
| External Grant Funded Costs | $242.6 | 75% |
| Total | $305.5 Million |
| Sources of Total Research Internal Expenditure (In Millions) | Amount (In millions) | Percentage |
|---|---|---|
| Technology and Licensing Expenses | $4.3 | 5% |
| Depreciation and Accretion | $4.9 | 5% |
| Scientists Salaries | $23.5 | 24% |
| Debenture Interest | $10.4 | 15% |
| Research Operations | $19.8 | 20% |
| Core Infrastructure | $4.1 | 5% |
| Peter Gilgan for Research and Learning | $19.6 | 20% |
| Start-Up and Scientific Support (Net of $5.2M Recovery) | $24.4 | 25% |
| Recoveries | $-31.0 | -30% |
| Total | $80.0 Million |
2024-2025 Total Hospital Revenues and Expenses
revenues
(In millions)
$1.48 billion
expenses
(In millions)
$1.48 billion
2024-2025 Total Patient Care Revenues and Expenses
revenues
(In millions)
$991.2 million
Expenses
(In millions)
$1.05 billion
2024-2025 Investment Performance
Hospital Investments
(In millions)
$414.4 million
Investment Income
(In millions)
Restricted Investment Income*
*Restricted investment income cannot be used for operations.
Unrestricted Investment Income
Restricted Investment Income/Loss*
Unrestricted Investment Income
2024-2025 Total Research Institute Revenue and Expenses
Sources of Research Institute Funding
(In millions)
$313.1 million
Research grants and awards sources over $1 million
(In millions)
Secretariat – Research Support Fund
Secretariat – Canada Research Chairs
Total Research Institute Expenditure
(In Millions)
$322.6 Million
Total Research Internal Expenditure
(In millions)
$80.0 million