 |
 |
 |
 |
 |
General Operations
Total operating revenues increased by $9.4 million or by 3.4% in 1999-2000, as a result of a number of factors. Total operating grants from the Council on Post-Secondary Education (COPSE) increased by 2.4% or by $3.9 million, attributed to a general operating grant increase of 2%, and additional funding for other programs such as the Computer Science Development Plan. Student fees increased by $5.9 million or 9.6% as fees were increased by 6% to 15% depending on the program of study. Student enrolments remained steady in 1999-2000. Miscellaneous income increased by $1.5 million as a result of the sale of MBnet Networking Inc. (MBnet), and as a result of additional income from the Pan Am Games Society for janitorial and housekeeping services provided during the Games.
General operating expenses decreased by approximately $1.9 million over 1998-99. This decrease is attributed primarily to early retirement costs of $12.7 million which were incurred in 1998-99, offset by a $10.8 million increase in the following areas: Salaries, wages and benefi ts increased by $5.4 million or 3.0% due to contractual salary and benefi t increases. Plant maintenance increased by $1.4 million as a result of an increase in repairs and maintenance costs. General expenses increased by $1.1 million primarily due to an increase in vacation pay expense of $0.7 million.
Property taxes increased by $1.2 million as a result of the addition of several new buildings, including the Helen Glass Centre for Nursing, the Investors Group Athletic Centre, and the University Parkade. Since 1996 the university pays property taxes directly, as opposed to the more common grants-in-lieu of taxes found in other jurisdictions. The original grant for taxes of $13.4 million provided to the university four years ago has not been increased, though the property tax burden has increased by $2.4 million over that time. Out of the $268.5 million in operating expenses, $28.8 million, or 10.7% is comprised of property taxes and utilities.
Ancillary enterprises are budgeted to break even, in keeping with the university's desire to provide services on campus at an affordable price to students, staff and visitors, and those services ended the year with an excess of revenue over expenses of $107,000. Transfers to the Capital Asset Fund of $1.2 million were made to fund principal and interest repayments on the parkade loan and for equipment related to the Parkade and service road upgrades. Total revenues decreased by $1.1 million or 0.9% over 1998-99 while expenses decreased by $1.3 million or 5.7%. These decreases are primarily due to a large one time sale of computers of over $1 million in 1998-99.
Net transfers to other funds of $17.7 million (1998-99 $6.0 million) are primarily made up of transfers to the Capital Asset Fund. In 1999-2000 the university used $12.6 million of operating funds for the purchase of capital equipment, library books, debt servicing costs and the construction and renovation of new and existing buildings. Offsets to these transfers include transfers from the Trust Fund to cover eligible expenses incurred in general operating and transfers from the Research and Special Fund to cover overhead costs. Transfers in 1998-99 appear significantly lower as a result of transfers of funding into operating to cover early retirement costs.
