Clean audit opinion from the external auditors
“The Consolidated Financial Statements present fairly, in all material respects, the financial position of the University as at April 30, 2019 and the results of its operations and its cash flows for the year then ended, in accordance with the Canadian Accounting standards for not-for-profit organizations.”
The operating fund statement reports a structural operating deficit of $3.8 million, a positive variance of $1.2 million from the approved budget.
This translates to essentially a balanced position on a net basis after transferring $3.7 M of one-time reserves.
For comparability, 2017-2018 restatement reflects recruitment marketing expenses as ongoing costs.
Multi-year plan approved to renovate residences on the Fredericton campus. The first renovation was completed in time to open in September 2019 at a cost of $6.6 M and eliminating $2.1 M in accumulated deferred maintenance, essentially resetting the building to "new" condition.
Trust and endowment assets grew in 2018 – 2019 by $22.6 M to $342.3 M.
Growth due to:
| Donations and other contributions | $20.1 M |
| Investment income | $27.8 M |
| Spending | ($25.3 M) |
| $22.6 M |
