The Board of Governors is responsible for stewarding the more than $2.5 billion in assets that make up our great institution. As part of our mandate to ensure financial sustainability for the U of S, we ensure that our resources are used in the most effective way and that those resources support moving the university closer towards its strategic goals.
That has been more difficult in the past year.
With a downturn in the provincial economy—and thus a downturn in provincial funding in the postsecondary sector, there were noteworthy changes to our annual operating budget. Because of prudent financial management and long-term planning, we have been able to adjust to unanticipated funding reductions and ensure the university can continue its important work. We are also looking to future financial needs to enhance the university’s research and teaching and learning mandate.
While our fiscal reality has changed, a reality reflected in these audited statements, what has not changed is our reputation as one of Canada’s outstanding medical-doctoral institutions. We continue to build on our reputation as a productive research-intensive university that is changing lives in Saskatchewan, Canada and beyond. We lead in ways to help the world adapt to changes in areas of key importance—Aboriginal Peoples, one health, water, agriculture, energy and mineral resources, and synchrotron sciences.
It is an honour to be chair of the U of S Board of Governors and work with the Government of Saskatchewan and other funding partners to achieve our mutual goals. With another year complete, we look forward to the future and all of the promise it holds for our students, faculty, staff, alumni and supporters.
Lee Ahenakew, Chair, Board of Governors
2014/15 Annual Report
On behalf of the board of governors, I would like to acknowledge the significant effort made by the entire university community in managing our financial resources in a fiscally responsible manner.
The senior leadership and the board continue to focus on achieving long-term financial sustainability for the University of Saskatchewan. As a result, a general culture of fiscal restraint and prudence has become more evident on campus.
We continue to respond to the challenge of ensuring efficient operations in light of fiscal realities. There are a number of projects underway that will help the university community effectively steward institutional resources.
The university is a strong proponent of the Province of Saskatchewan’s vision for growth. We expect to be able to more fully align our resources behind strategic areas of focus, which will increase our record of success and achievement.
Much work remains, however I am confident the university’s record of prudent financial management will continue to improve our standing among Canada’s very best research intensive universities.
Greg Smith, Chair, Board of Governors
2013/14 Annual Report
On behalf of the board, I want to thank the entire U of S community for coming together to address the fact that our operating expenses are growing faster than our revenues. But as has always been the case throughout our university’s history, our dedication, hard work and prairie resourcefulness have resulted in significant progress towards our goal of financial sustainability.
Building on the past year, our work with the university’s senior leaders continues to be focused on making strategic decisions to ensure sustained, long-term financial sustainability by permanently reducing the gap between our revenue and expenses.
Financial sustainability is a critical step toward improving our place among Canada’s top research-intensive universities – the U15. We are pleased to continue this work alongside the dedicated members of the university community. The steps taken over the past year strengthens our foundation for the future, which is built upon a proud history of excellence.
As new individuals join our leadership team at the university and on the board, I am confident that we have taken the necessary and appropriate steps to maintain the university’s exceptional record of financial management.
Susan Milburn, Chair, Board of Governors
2012/13 Annual Report
On behalf of the board of governors, I would like to extend my appreciation to all university employees for your commitment to bringing positive financial change to an already excellent university, and your dedication to this institution.
At the board, our focus is on the strategic and long-term direction of the university. It is important that we work with senior administration to ensure that the university is financially sustainable over generations, not just planning cycles.
Excellent progress has been made, beginning with a proactive and comprehensive four-year strategy to eliminate the mismatch between our revenues and our expenses. There is still a great deal to do in determining and implementing those changes needed to ensure our university’s financial sustainability. Steps taken over the past year have already resulted in permanent reductions in operating budget expenses for future years. With the priorities outlined in our third integrated plan, Promise and Potential, and a process for change guided by our budgets, the University of Saskatchewan is uniquely positioned to capitalize on its strengths and achieve new heights.
We look forward to continued progress and are pleased to work alongside the university community to make that happen.
Susan Milburn, Chair, Board of Governors