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
University of Saskatchewan Annual Report 2012-13
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
2011/12 Annual Report
University of Saskatchewan Annual Report 2011-12
Prudent financial management at the University of Saskatchewan combined with strong support from the provincial government saw the university conclude 2011/12 in good financial condition despite the prolonged global economic downturn. The year, however, also brought to light new challenges. As described in more detail in later sections of this report, our robust and mature planning processes have highlighted financial issues for the university that we expect will continue into the years ahead. Promise and Potential, our third integrated plan, was approved in March 2012 by our governing bodies and sets our direction for the next four-year planning cycle. Guided by this plan, we will vigorously pursue our priorities as we address our financial challenges.
Nancy Hopkins, Chair, Board of Governors
2010/11 Annual Report
University of Saskatchewan Annual Report 2010-11
This past year has seen a continued strengthening of the University of Saskatchewan’s financial position. Our strategic planning processes, including our award-winning scenario analysis, enabled us to complete a three per cent budget reduction following the 2008 world economic downturn, and, at the same time, permitted us to take advantage of strategic opportunities to advance our priorities. Using prudent and responsible financial management, and by paying particular attention to assessing the risks and benefits of our investments, we have ensured our commitments to students, research and partnerships are both affordable and sustainable into the future. Unprecedented capital expansion on our campus is one visible sign of the strength of the university within the city and province, as is our ability to attract and retain significant financial support from the Government of Saskatchewan and national funding bodies for our strategic priorities. We close out the 2010-11 fiscal year with much confidence in the long-term financial stability of our university and the knowledge our decisions will continue to make important contributions to the greater good of the province of Saskatchewan and the global community.