Saint Paul University
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Financial Statements

The deficit of $390,932 incurred in 2017–2018 was largely due to a lower return in the financial markets. In spite of this, our operating budget is balanced.

It is important to emphasize that during the fiscal year, the University disbursed more than $800,000 in scholarships and tuition fee reductions. Also, the additional contribution to the retirement pension plan was around $909,000.

A new debt of $4 million, which will be paid off by means of a pledged gift and the cashing of part of our investments, allowed us to invest more than $6 million in our campus infrastructure.

For more details, please see the financial statements of 30 April 2018, which have been externally audited. They were reviewed by the Saint Paul University audit committee and approved by the Board of Governors.