This annual report presents 1996-97 financial information on 20 degree-granting universities and related institutions in Ontario, Canada. The report first explains the general guidelines and reporting requirements used in compiling the report, including university accounting procedures, the principles of fund accounting involved, and definitions of types of funds, revenue sources, operating expenses, and objects of expense. Twenty-four data tables present summary information for all institutions, including: (1) combined revenues and expenses and changes in fund balances; (2) expenses by object and type of fund; (3) actual operating expenses by object and functional area; (4) percentage of total expenses by object of expense by institution; (5) percentage analysis of expenses by type of fund by institution; (6) general fund changes in appropriated fund balances; and (7) treatment and rehabilitation funds. Financial information for the following institutions are provided: Brock University, Carleton University, University of Guelph, Lakehead University, Laurentian University, Algoma University College, Le College Universitaire de Hearst, McMaster University, Nipissing University, Ontario College of Art & Design, University of Ottawa, Queen's University, Ryerson Polytechnic University, University of Toronto, Trent University, University of Waterloo, University of Western Ontario, Wilfrid Laurier University, University of Windsor, and York University. (DB)