Athabasca University’s financial position is looking more positive.
At the university’s May 26 board of governors meeting, president Neil Fassina presented the year end variance report, highlighting that it included a swing from a projected deficit to surplus.
“We pulled from our projected deficit of just over $3.3 million (and) we have seen a four-per-cent swing in our final financial position, to be in a surplus environment of just over $3.7 million,” he said. “The financial management processes that the university has put in place has seen us move not only to that balanced position but also into a positive zone.”
He added while this is good news for the university, there are a number of one-time additions to this year’s financials that are not expected year-over-year.
“I’m hesitant to say we’re out of the woods quite yet, in that we do still need to continue some stringent financial management in years to come, just to make sure we are addressing the overall sustainability of the university,” he said.
The variance report also shows an increase in registrations from the expected amount of the year up to March 31, 2017, from an expected 1.3-per-cent undergraduate growth to an actual 2.7-per-cent growth. Graduate growth was expected to be non-existent, but actual was 1.1 per cent.
Board of governors chair Vivian Manasc said at the meeting that the swing from a projected deficit to surplus is a positive story, moving into the next stage of strategic growth and development.
“Certainly, both the fact that we’re a four-per-cent swing, which is a very reasonable amount of swing, and then the fact we’re into the positives, is excellent news,” she said.
