Financials
Total Revenues
Revenues for the university are generated
from a variety of sources, the largest being the provincial operating grant of $280.5 million.
Total Expenses and Transfers
Expenses and transfers for the 1999/00 fiscal year totaled $833.7 million. The largest expenditure is for the salaries and benefits of $510.2 million paid to faculty, staff and students who provide teaching, research and support services.
Operating Surplus
The university ended the 1999/00 year with an operating surplus of $2.0 million.
Endowment Highlights
The university's endowment consists
of restricted donations and internal
allocations whose principal must be maintained in perpetuity. In addition
to maintaining the principal, the
university protects the endowment's
total economic value from inflation
by limiting the amount of income that may be expended annually.
The investment income generated
from endowment can be spent only in accordance with the various purposes established by the donors and/or the
university's Board of Governors. Some
of these purposes include providing
scholarships, fellowships and bursaries
to students.
The endowment has grown over the years from a market value of $138.5 million in 1990 to a market value of $672.7 million ten years later. The overall growth in the endowment is attributable to donations, the leasing of university property for the construction of market housing and investment returns.
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Financial Summary
For the year ended March 31, 2000 (thousands of dollars)
Statement Of Operations & Changes in Operating Equity
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2000
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1999
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Revenues
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Government grants and contracts
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$
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403,115
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372,718
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Student fees
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$
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106,155
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98,169
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Non-government grants, contracts and donations
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$
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68,177
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56,037
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Investment income
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$
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77,209
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40,280
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Sales, services and other
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$
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181,052
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173,801
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$
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835,708
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741,005
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Expenses and Transfers
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Salaries and employee benefits
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$
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510,155
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492,648
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Supplies and general expenses
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$
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122,092
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109,397
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Depreciation
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$
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55,990
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55,064
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Cost of goods sold
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$
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33,726
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37,590
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Scholarships, fellowships and bursaries
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$
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26,257
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25,009
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Grants to other agencies
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$
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16,093
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10,331
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Transfer to endowment principal
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$
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41,578
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9,079
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Other transfers
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$
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27,812
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1,766
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$
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833,703
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740,884
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Change in net operating assets
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$
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2,005
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121
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Net operating asset deficiency, beginning of year
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$
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(4,339)
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(4,460)
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Net operating deficiency, end of year
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$
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(2,334)
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(4,339)
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Statement Of Financial Position
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2000
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1999
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Assets
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Current assets
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$
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126,187
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124,829
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Investments
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$
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540,489
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437,838
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Capital assets
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$
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799,770
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776,632
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Total assets
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$
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1,466,446
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1,375,299
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Liabilities and Net Assets
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Current liabilities
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$
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71,832
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72,174
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Non-current liabilities
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$
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59,632
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65,522
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Deferred contributions
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$
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140,014
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124,931
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Deferred capital contributions
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$
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481,589
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480,445
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Net assets
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$
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713,379
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632,227
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Total liabilities and net assets
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$
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1,466,446
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1,375,299
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