siast 2006-2007 annual report - Saskatchewan Institute of Applied ...

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS continued
Year ended June 30, 2007
(in thousands of dollars)
41
8. Unearned revenue:
2007 2006
Tuition and fees $ 1,057 $ 1,014
Contractual services 410 731
Grants – operations and rent 3,831 1,285
Other 560 431
$ 5,858 $ 3,461
9. Deferred grants:
The balance is made up of the following:
(a) Saskatoon Trades and Skills Centre:
SIAST received $17,000 during the year from the Department of Advanced Education and Employment (AEE) for development of an integrated training
facility at the Saskatoon Public School Division’s Mount Royal Collegiate. The contribution from AEE, as well as any investment income earned on the funds
($181 as of June 30, 2007), is required to be used for the capital costs of renovating the facility. SIAST has been designated the managing partner of the
project, which also includes the involvement of the Saskatoon Public and Catholic School Divisions, the Saskatchewan Indian Institute of Technologies,
Dumont Technical Institute, the Saskatchewan Apprenticeship and Trade Certification Commission and the Saskatchewan Construction Association. The new
facility will be named the Saskatoon Trades and Skills Centre. It is not anticipated that SIAST will own the facility or capitalize any of the expenditures
made with these funds.
(b) SIAST programming:
Skills Capital 2007 2006
TEL Training Assets Total Total
Balance, beginning of year $ 1,140 $ 262 $ 184 $ 1,586 $ 3,951
Grants received during the year 933 2,003 15,625 18,561 2,446
Recognized during the year (1,059 ) (1,829 ) (7,390 ) (10,278 ) (4,811)
Balance, end of year $ 1,014 $ 436 $ 8,419 $ 9,869 $ 1,586