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Financial Statements

 

The 2016–17 fiscal year ended with a surplus of $825,000. This amount includes the sale of land for a right of way (Hazel Street). After subtracting the amount for the sale of land, the University is running a small deficit. However, if we compare the last four years, the University has achieved a balanced operating budget.

 

In looking at these financial results, it is important to underline that the University maintained its scholarship program for its students – more than $950,000 over the past year. Also, the additional contribution to the pension plan was around $763,000.

 

The debt was also reduced by $750,000, and $2,417,000 was invested in capital assets.

 

For more details, please see the financial statements as of 30 April 2017, which have undergone an external audit and were reviewed by the Saint Paul University Audit Committee and approved by the Council of Administration.