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

Deb Markwart, Dental Assisting instructor,
was elected to the board of the Dental
Assistant Educators of Canada.
At SIAST Palliser Campus, Automotive
Technician instructor Dominic Flagel,
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS continued
Year ended June 30, 2007
(in thousands of dollars)
Administration/Marketing instructor Maureen
Munshaw (pictured) and Office Education
instructor Muriel Towriss received Excellence
in Teaching awards. Students and colleagues
nominated the three faculty members.
Revenue of $2,100 (2006 – $1,827) was recognized in the year representing the amortization of deferred capital funding provided by AEE.
Routine operating transactions with related parties are settled at exchange amounts which approximate prevailing market prices under normal trade terms.
Transactions during the year, and amounts outstanding at year end, are as follows:
47
2007 2006
Non-grant revenue $ 19,254 $ 17,315
Operating expenses 35,467 31,068
Capital asset additions 1,274 2,749
Accounts receivable 2,577 2,347
Accounts payable 1,390 1,220
Unearned revenue 3,991 1,806
In addition, SIAST pays provincial sales tax to the Department of Finance on all its taxable purchases. Taxes paid are recorded as part of the cost of those
purchases. Other transactions and amounts due to and from related parties are described separately in these financial statements and the notes thereto.
20. Expenses by function:
Following is a summary of expenses by function:
2007 2006
Programs $ 104,222 $ 93,521
Facilities 26,261 26,145
Student services 12,380 10,955
Ancillary 6,732 6,000
Administration 24,097 21,437
$ 173,692 $ 158,058