Annual Report 2010/11

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Consolidated Statement of OperationsFor the Year Ended June 30, 2011 (thousands of dollars)Budget 2011 2011 2010(Note 17) Restated (Note 3)RevenueGovernment of Alberta grants $ 110,670 $ 109,004 $ 112,276Federal and other government grants 110 107 43Student tuition and fees 68,249 72,800 64,830Sales of services and products 24,875 26,445 26,728Amortization of deferred capital contributions (Note 8) 6,200 6,321 6,103Contract programs 3,193 2,547 3,047Donations and other grants 1,830 1,483 1,347Investment income (Note 12) 3,303 3,904 2,020218,430 222,611 216,394ExpenseSalaries 119,327 113,581 106,738Employee benefits 18,236 19,217 17,011Materials, supplies and services 36,667 35,841 34,279Amortization of capital assets 15,868 13,591 11,672Cost of goods sold 9,412 9,582 9,130Utilities 4,802 5,125 4,384Maintenance and repairs 9,052 5,958 9,989Scholarships and bursaries 2,210 2,319 1,929Interest on long term debt 2,856 2,748 2,826218,430 207,962 197,958Excess of revenue over expense $ - $ 14,649 $ 18,436The accompanying notes are part of these consolidated financial statements.40 grant Macewan university
Consolidated Statement of Changes in Net AssetsFor the Year Ended June 30, 2011 (thousands of dollars)Investmentin Capital InternallyAssets and Restricted UnrestrictedEndowments Collections Net Assets Net Assets(Note 11) (Note 13) (Note 14) (deficit)Restated (Note 3)NET ASSETS, June 30, 2009 $ 25,446 $ 48,045 $ 72,054 $ 1,238Excess of revenue over expense - - - 18,436Investment income (Note 12) 1,113 - - -Endowment contributions 4,132 - - -Net transfers 100 - - (100)Net change in investment in capital assets (Note 13) - 9,566 - (9,566)Contributions of assets not subject to amortization (Note 13) - 879 - -Net expenditures of internally restricted net assets - - 8,534 (8,534)NET ASSETS, June 30, 2010 $ 30,791 $ 58,490 $ 80,588 $ 1,474Excess of revenue over expense - - - 14,649Investment income (Note 12) 392 - - -Endowment contributions 8,693 - - -Net transfers 11 - - (11)Net change in investment in capital assets (Note 13) - 30,518 - (30,518)Contributions of assets not subject to amortization (Note 13) - 2,648 - -Net expenditures of internally restricted net assets - - (16,909) 16,909NET ASSETS, June 30, 2011 $ 39,887 $ 91,656 $ 63,679 $ 2,503The accompanying notes are part of these consolidated financial statements.consolidated financial statements 2010/2011 41
Page 8 and 9: About Grant MacEwanUniversityBoard
Page 10 and 11: 10 grant Macewan universityOperatio
Page 12 and 13: PeopleSoft program has enhanced sys
Page 14 and 15: surveys of baccalaureate students.
Page 16 and 17: Progress Report on Achievement ofSt
Page 18 and 19: The university has developed a rang
Page 20 and 21: external webinars and workshops on
Page 22 and 23: • Complete the implementation of
Page 24 and 25: ecommendations on locations for the
Page 26 and 27: Performance MeasuresMacEwan Univers
Page 28 and 29: Academic Programmingand DeliveryDeg
Page 30 and 31: to enhance services. Implementation
Page 32 and 33: Discussion and AnalysisThe followin
Page 34 and 35: • Expenditures funded through the
Page 36 and 37: ContentsManagement’s Responsibili
Page 38 and 39: Independent Auditor’s ReportTo th
Page 42 and 43: Consolidated Statement of Cash Flow
Page 44 and 45: Notes to the Consolidated Financial
Page 60: Grant MacEwan UniversityP.O. Box 17

Annual Report 2010/11

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