Annual Financial Report
2017/18 Annual Financial Report
The administration of the university is responsible for the preparation of the consolidated financial statements and has prepared them in accordance with Canadian generally accepted accounting principles. The administration believes that the consolidated financial statements fairly present the financial position of the university as of April 30, 2018 and the results of its operations and the changes in its fund balances for the year then ended.
Message from Lee Ahenakew Chair, Board of Governors
The Board of Governors has worked diligently this year to provide oversight and support the leadership team so the university may meet the needs of our province and related global issues. The decisions we make are to ensure we are moving in the bold strategic direction now formalized in the University Plan endorsed by all three governing bodies including Senate and University Council. One of the most important roles we have each year is examining this annual financial report, which puts other university plans into perspective.
Through the budget challenges of recent years, we have continually demonstrated a strong record of fiscal responsibility. The U of S recently earned a AA2 credit rating by Moody’s, which places it tied for the highest among Canadian universities. This is a key indicator of the university’s excellent financial management and financial situation. The province has supported the university to access long-term financing to fulfill much-needed renewal of facilities on-campus, and has worked with our leadership to meet our financial priorities in times with limited resources.
Infrastructure and assets continue to grow to meet the ever-changing needs of our students, faculty and staff. We are in various stages of development on a centralized Prince Albert campus, the Livestock and Forage Centre of Excellence, the Collaborative Science Research Building, Health Sciences A-Wing, and Merlis Belsher Place. Built through funding partnerships and generous support, all of these projects help ensure a strong future for the University of Saskatchewan.
We’re honoured to ensure the appropriate and efficient use of the resources entrusted to us by and for the people of Saskatchewan.
Chair, Board of Governors
University of Saskatchewan
Administration Building, Room E271
Saskatoon, SK, S7N 5A2