Annual Report 2010/11

More documents

Recommendations

Info

Notes to the Consolidated Financial StatementsFor the Year Ended June 30, 2011 (thousands of dollars)Note 16Related Party TransactionsThe University operates under the authority and statutes of the Province of Alberta. Transactionsand balances between the University and Government of Alberta (GOA) are measured at theexchange amount and summarized below.2011 2010Grants from GOAAdvanced Education and Technology:operating $ 111,534 $ 113,135Capital 2,336 4,318Access to the Future Fund 3,002 1,161total Advanced Education and Technology 116,872 118,614other GOA departments and agencies:Ministry of Education grants - 50Ministry of Culture and Community Spirit grant 50 52Alberta Foundation for the Arts 24 -total other GOA departments and agencies 74 102total contributions received 116,946 118,716Less: deferred contributions (8,203) (18)$ 108,743 $ 118,698Accounts receivableother GOA departments and agencies 358 222$ 358 $ 222Accounts payableother GOA departments and agencies 440 287$ 440 $ 287The GOA has provided $4,694 (2010 - $1,840) in matching grants for externally restrictedendowment contributions during the year, which is included in endowment net assets.The University has long-term obligations with Alberta Capital Finance Authority as described inNote 10 Long Term Debt.Note 17BudgetThe University’s 2010-2011 budget was approved by the Board of Governors and was presentedto the Minister of Advanced Education and Technology as part of the University’s submission of its2010-2011 Business Plan.56 grant Macewan university
Notes to the Consolidated Financial StatementsFor the Year Ended June 30, 2011 (thousands of dollars)Note 18Contractual ObligationsThe University has contractual obligations which are commitments that will become liabilities in thefuture when the terms of the contracts or agreements are met.2011 2010Service contracts $ 13,497 $ 12,047Capital projects 183 800Information systems and technology 302 11,500Long-Term leases 2,734 3,229$ 16,716 $ 27,576The estimated aggregate amounts payable for the unexpired terms of these contractual obligationsare as follows:2011InformationService Systems and Long-TermContracts technology Leases Capital total2012 $ 4,325 $ 279 $ 1,303 $ 121 $ 6,0282013 3,234 23 821 17 4,0952014 2,375 - 414 17 2,8062015 2,375 - 156 14 2,5452016 1,188 - 40 14 1,242Thereafter - - - - -13,497 302 2,734 183 16,716Note 19Contingent LiabilitiesThe University is a defendant in a number of legal proceedings. While the ultimate outcome andliability of these proceedings cannot be reasonably estimated at this time, the University believesthat any settlement will not have a material adverse effect on the financial position or the results ofoperations of the University. Management has concluded that none of the claims meet the criteriafor being recorded under GAAP.consolidated financial statements 2010/2011 57
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 40 and 41: Consolidated Statement of Operation
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

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?