annual-report-2016-2017

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NIAGARA COLLEGE OF APPLIED ARTS AND TECHNOLOGY Consolidated Financial Statements Year ended March 31, 2017, with comparative information for 2016 Index Page Independent Auditorsʼ Report .......................................................................................................... 2 Consolidated Statement of Financial Position ................................................................................. 4 Consolidated Statement of Operations ............................................................................................ 6 Consolidated Statement of Changes in Net Assets ......................................................................... 7 Consolidated Statement of Cash Flows ........................................................................................... 8 Consolidated Statement of Remeasurement Gains and Losses ..................................................... 9 Notes to Consolidated Financial Statements ................................................................................. 10 Consolidated Analysis of Revenue ................................................................................................ 29 Consolidated Analysis of Expenses ............................................................................................... 30
KPMG LLP 80 King Street, Suite 620 St. Catharines ON L2R 7G1 Canada Tel 905-685-4811 Fax 905-682-2008 INDEPENDENT AUDITORS' REPORT To the Board of Governors of Niagara College of Applied Arts and Technology We have audited the accompanying consolidated financial statements of Niagara College of Applied Arts and Technology, which comprise the consolidated statement of financial position as at March 31, 2017, the consolidated statements of operations, consolidated remeasurement gains and losses, consolidated changes in net assets and consolidated cash flows for the year ended March 31, 2017, and notes, comprising a summary of significant accounting policies and other explanatory information. Management's Responsibility for the Consolidated Financial Statements Management is responsible for the preparation and fair presentation of these consolidated financial statements in accordance with Canadian public sector accounting standards, and for such internal control as management determines is necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud or error. Auditors' Responsibility Our responsibility is to express an opinion on these consolidated financial statements based on our audit. We conducted our audit in accordance with Canadian generally accepted auditing standards. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated financial statements. The procedures selected depend on our judgment, including the assessment of the risks of material misstatement of the consolidated financial statements, whether due to fraud or error. In making those risk assessments, we consider internal control relevant to the entity's preparation and fair presentation of the consolidated financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements. KPMG LLP is a Canadian limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. KPMG Canada provides services to KPMG LLP. 2
Page 1: ANNUAL REPORT 2016-2017 niagaracoll
Page 4 and 5: MESSAGE FROM THE CHAIR OF THE BOARD
Page 6 and 7: 2016-2017 COLLEGE ACCOMPLISHMENTS N
Page 8 and 9: 2 students honoured for over 600 co
Page 10 and 11: STUDENT ACHIEVEMENTS Louise Rowe On
Page 12 and 13: Strategic Priority: Leading Innovat
Page 14 and 15: Strategic Priority: Operational Exc
Page 16 and 17: HIGHLIGHTS Capital Expansion 9 capi
Page 18 and 19: VISITOR HIGHLIGHTS Ambasadors from
Page 20 and 21: VISION Enriching lives and fulfilli
Page 22 and 23: 2016-2017 College Goals (Final Repo
Page 24 and 25: 1.2 Increase access and learning pa
Page 26 and 27: The next phase of renovations is sc
Page 28 and 29: 2.2 Innovation in applied education
Page 30 and 31: 2016-2017 College Goals - June 2017
Page 32 and 33: 2016-2017 College Goals - June 2017
Page 34 and 35: 3.4 Strategic Enrolment Management
Page 36 and 37: APPENDIX A NIAGARA COLLEGE KEY PERF
Page 40 and 41: We believe that the audit evidence
Page 42 and 43: 5 NIAGARA COLLEGE OF APPLIED ARTS A
Page 44 and 45: NIAGARA COLLEGE OF APPLIED ARTS AND
Page 68: 100 Niagara College Boulevard Welan

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