The Universities Grants Commission was established in 1967 under the Universities Establishment Act. It acts as a semi-autonomous intermediary between post-secondary institutions and the provincial government to advise government on the financial needs of institutions, distribute annual grants authorized by the legislature to public institutions and private denominational institutions, and coordinate program and policy development. The Universities Grants Commission is now known as the Council on Post-Secondary Education (COPSE).
The University of Manitoba Act of 1877 provided for a modest annual provincial grant of $250. In 2010-2011, COPSE allocated $407.8 million in block funding to the Universities of Manitoba and of Winnipeg, Brandon University, Collège universitaire de Saint-Boniface, and the University College of the North. In addition, $5.5 million was allocated to the private denominational institutions of Canadian Mennonite University, Providence College and Seminary, Booth University College, and Steinbach Bible College. $87.2 million was provided to the public colleges of Red River College, Assiniboine Community College, and the École technique et professionnelle.
In 2012-2013, the University of Manitoba had a General Operating Budget of $795 million. The province provided $327 million through COPSE as well as an additional $85 million. The federal government provided $75 million. Tuition and other fees provided $133 million, leaving a shortfall which was provided for by donations, investments, NGO grants, sales of goods and services, and other ancillary services .