An external revenue / external recovery transaction will have net cash implications to Queen’s University; i.e. the transaction will eventually result in cash being deposited to university bank accounts. The transactions include income generating activity resulting in cash received or to be received by Queen’s as a result of negotiated agreements with organizations, agencies, corporations, and/or individuals considered external to the University; in exchange for goods and/or services provided by Queen’s staff or departments; or in support of ongoing University activities.
External revenues for Queen’s are generated through funds received by departments from external sources in exchange for goods and services provided by departments, non-credit student fees, and miscellaneous fees, rentals, etc.
An external cost recovery is when an initial expense is first incurred through an external party and then recovered partially or fully from a external source.