Public Post-Secondary Institutions Audited Financial Statements. Universities and the Banff Centre for the Year Ended March 31

2010·11.1 MB·English

by  Alberta. Alberta Advanced Education and Technology

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Advanced Education
and Technology
Public Post-Secondary Institutions
Audited Financial Statements
Universities and The Banff Centre
for the year ended March 31, 2010
Government of Alberta
Auditedfinancial statementsofthe publicpost-secondaryinstitutions
areavailableon Advanced EducationandTechnology'swebsite:
aet.alberta.ca/post-secondary/campusalberta/accountability.aspx
Fora printversion ofthecompleteauditedfinancial statements,
contactthe Post-Secondary Planning and Investment Branch:
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ISSN 1922-9259
Public Post-Secondary Institutions
Audited Financial Statements
Table of Contents
Universities and The BanffCentre - Year ended March 31, 2010
Page
Athabasca University 1
The University ofAlberta 25
The University ofCalgary 51
The University ofLethbridge 81
The BanffCentre for Continuing Education 105
Digitized by the Internet Archive
in 2017 with funding from
University of Alberta Libraries
https://archive.org/details/publicpostsecond2010albe
ATHABASCANNJVER5LTY
FINANCIALSTATEMENTS
YEARENDEDMARCH31.2010
1
ATHABASCA UNIVERSITY
Financial Statements
For the year ended March 31, 2010
Auditor's Report
Financial Statements:
• Statement of Financial Position
• Statement of Operations
• Statement of Changes to Net Assets
• Statement of Cash Flows
• Notes to the Financial Statement
2
Auditor’s Report
To theAthabascaUniversityGoverning Council
Ihaveauditedthe statementsoffinancialposition ofAthabascaUniversityas atMarch 31, 2010
and2009 andthestatements ofoperations, changes innetassets, and cash flows forthe years
thenended. These financial statements aretheresponsibilityofthe University’smanagement.
Myresponsibilityis to expressanopiniononthese financial statements based onmyaudits.
Iconductedmyaudits inaccordancewithCanadiangenerallyaccepted auditing standards. Those
standardsrequire that Iplanandperforman auditto obtainreasonable assurancewhetherthe
financial statements are free ofmaterial misstatement. Anaudit includes examining, onatest
basis, evidence supporting the amounts anddisclosures inthe financial statements. Anauditalso
includes assessingtheaccountingprinciplesused and significantestimates madeby
management, as well as evaluatingthe overall financial statementpresentation.
In myopinion, thesefinancial statementspresentfairly, inallmaterialrespects, the financial
position oftheUniversity as atMarch 31, 2010 and2009andtheresults ofits operations,
changes in netassetsand its cashflows forthe years thenended inaccordancewith Canadian
generallyacceptedaccountingprinciples.
SaJulT
A/- CA
Auditor General
Edmonton, Alberta
May 28, 2010
3
ATHABASCA UNIVERSITY
STATEMENTOFFINANCIALPOSITION
(thousandsofdollars)
2010 2009
Restated(Note3)
ASSETS
Currentassets
Cashandcashequivalents (Note4) $ 7,733 $ 2,063
Short-terminvestments (Note5) 22,601 28,395
Accountsreceivable 6,593 4,939
Inventoriesandprepaidexpenses 6,210 5,187
43,137 40,584
Long-terminvestments (Note5) 29,906 31,120
Capitalassets (Note6) 34,394 25,526
$ 107,437 $ 97.230
llABtUT!E3_ANDNETASSETS
Currentliabilities
Accountspayableandaccruedliabilities $ 15,095 $ 8,550
Deferredrevenue 12,794 12,672
Deferredcontributions,researchandother (Note8) 12,331 5,940
40,220 27,162
Employeefuturebenefitliabilities (Note7) 10,037 7,295
Deferredcapitalcontributions (Note8) 18,455 27,615
Unamortizeddeferredcapitalcontributions (Note9) 23,703 12,454
Z153L
.....
Contractualobligations (Note13)
Netassets
Endowments (Note10) 2,346 2,029
Investmentincapitalassets,internallyrestricted (Note11) 10,691 13,072
Internallyrestricted (Note12) 9,250 9,550
Unrestricted(deficit) (7,265) (1,947)
15,022 22,704
$ 107,437 $ 97.230
ApprovedonbehalfoftheGoverningCouncil:
'J.Walker,FCA Dr.FritsPannekoek
Chair,AthabascaUniversityGoverningCouncil President
Theaccompanyingnotesarepartofthesefinancialstatements.
4
ATHABASCA UNIVERSITY
STATEMENTOFOPERATIONS
YEARENDEDMARCH31
(thousandsofdollars)
2010 2010 2009
Budget Restated(Note3)
Revenue
GovernmentofAlbertagrants (Not©16) $ 42,310 $ 43,055 $ 38,537
Studenttuitionandfees:
Undergraduate 42,978 40,905 39,070
Graduate 17,871 16,753 15,138
Salesofservicesandproducts 13,348 12,629 12,564
Investmentincome(loss) (Note15) 1,631 4,431 (2,463)
Federalandothergovernmentgrants 350 1,526 251
Donationsandothergrants 2,730 1,481 2,279
Amortizationofdeferredcapital
contributions (Note9) 840 746 833
Z3BBE
122,058 <21,528
Expenses
Salaries 69,958 73,156 64,672
Employee benefits 13,252 16,087 12,864
Materials,suppliesandservices:
Feesandpurchasedservices 19,047 17,144 15,758
Materialsandsupplies 10,272 9,987 9,980
Communicationsandtravel 7,119 6,476 7,264
RentalandInsurance 2,333 2,433 2,744
Amortizationofcapitalassets 2,552 3^69 2,907
Scholarships,bursariesandawards 494 981 1,302
~
125,027 129.533 117.491
Deficiencyofrevenueoverexpenses $ (2,989) j (8,008) $ (11,282)
Theaccompanyingnotesarepartofthesefinancialstatements.
5
ATHABASCA UNIVERSITY
STATEMENTOFCHANGESINNETASSETS
YiMiliPiBLMARCHJt
(thousandsofdollars)
Investmentin
Capital
Assets,
internally Internally Unrestricted
Endowments Restricted Resticted (Deficit) Total
2010
Balance,beginningofyear $ 2,029 $ 13,072 $ 9,550 $ (1,947) $ 22,704
Deficiencyofrevenueoverexpenses * • - (8,005) (8,005)
Investmentincapitalassets(Note11) - (2,381) - 2,381 -
Expenditureofinternallyrestrictednetassets - - (300) 300 •
Endowmentcontributionsandnettransfers 317 • - 6 323
Balance,endofyear $ 2,346 & 10.691 $ 9.250 $ (7265) $ 15.022
2009
Balance,beginningofyearaspreviouslyreports $ 1,595 $ 11,636 $ 19,529 $ (1,555) $ 31,205
Restatement(Note3) • - - 2,151 2,151
Balance,beginningofyearasrestated $ 1,595 $ 11,636 $ 19,529 $ 596 $ 33,356
Deficiencyofrevenueoverexpensesas
restated(Note3) - - . (11,282) (11,282)
Investmentincapitalassets(Note11) * 1,436 - (1,436) -
Expencfitureofinternallyrestrictednetassets - - (9.979) 9,979 -
Endowmentcontributionsandnettransfers 434 - - 196 630
Balance,endofyearasrestated $ 2.029 $ 13.072 $ 9.550 $ (1,947) $ 22.704
Theaccompanyingnotesarepartofthesefinancialstatements.