University of Saskatchewan

University of Saskatchewan Reports

Lee Ahenakew, Chair, Board of Governors

An organization with the size, and with the scope of responsibility, of the University of Saskatchewan requires a great deal of oversight and financial management. The Board of Governors takes pride in this role, and we work together to ensure the resources entrusted to us by the government and by the people of Saskatchewan are used effectively and efficiently for the benefit of all our students and stakeholders. As part of our due diligence and so we may continue to be an outstanding institution, the leadership team is constantly seeking new solutions; during these difficult financial times for the province, the importance of that process is magnified.

Although we do our best to work within our means, this is becoming more challenging. Dwindling reserves threatening to fall below levels of best practice are another area of concern as we look to the future.

We will continue to work with the province, our largest funding partner, and we will need to work together to support the teaching and discovery mission that is so important both in Saskatchewan and beyond our borders. We will continue to focus on financial sustainability, pursue more diverse revenue sources, and to find the best new ways to support the integral important work that is done by our researchers, students, faculty and staff on our main campus in Saskatoon and across this great province.

We take the opportunity in this report to look back at the financial reality of the past year, while we look to the coming year and the opportunity each academic year brings.

Lee Ahenakew, Chair, Board of Governors

2015/16 Annual Report

2015/16 Annual Report

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

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Financial Services Division
Administration Building
105 Administration Place
Saskatoon, SK

S7N 5A2
Ph: (306) 966-6625