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

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS continued
Year ended June 30, 2007
(in thousands of dollars)
15. SIAST/PAGC Student Housing Corporation:
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The SIAST/PAGC Student Housing Corporation is jointly controlled by SIAST and the Prince Albert Grand Council. Its purpose is to develop and manage family
housing for students from northern communities who are attending SIAST Woodland Campus. The corporation is incorporated under The Non-Profit Corporations
Act of Saskatchewan.
SIAST’s interest in the SIAST/PAGC Student Housing Corporation is proportionately consolidated in these financial statements as follows:
2007 2006
Total assets $ 126 $ -
Total liabilities 130 -
Revenue 2 -
Expenses 6 -
Deficiency of revenue over expenses $ (4 )
$ -
Cash provided by operations $ 126 $ -
Cash provided by financing and investing activities - -
16. Pension plans:
SIAST employees participate in various multi-employer defined benefit and defined contribution pension plans. The majority of these are managed and
administered by the Department of Finance. Employer contributions for the defined contribution plans are included in expenses in these financial statements.
Employer obligations associated with the defined benefit plans are the responsibility of the General Revenue Fund of the Government of Saskatchewan. During
the year, SIAST contributed $4,527 (2006 – $3,889) on behalf of employees for current services.