This report documents the impact upon Ontario (Canada) universities of a continuous decline in university funding over the past two decades, coupled with major cutbacks in the past year, that have reduced provincial government grants, partially deregulated university tuition fees, and reorganized student aid initiatives. In text and 23 figures the impact of these changes upon Ontario Universities in general are examined and compared with interprovincial resources and university funding in the United States. In another section text and data tables show how the reductions in government funding impact upon the economy of the entire province. The report concludes that Ontario has one of the most poorly funded university systems in all of North America, and that the cutbacks have seriously threatened both research and the quality of student academic experience. A separate section of 40 tables supplies further data for each of the text components, and an appendix contains an update of the Ontario University Non-Salary Price Index. (CH)