York University, also known as YorkU, is a public research university located in Toronto, Ontario, Canada. As a prominent institution, YorkU's financial statements provide valuable insights into its financial health, performance, and strategic priorities. The university's financial statements are typically presented in a comprehensive annual report, which includes the statement of financial position, statement of operations, and statement of cash flows.
Financial Statement Overview
The financial statements of York University are prepared in accordance with the Canadian Accounting Standards for Not-for-Profit Organizations. The statements are designed to provide stakeholders with a clear understanding of the university’s financial situation, including its assets, liabilities, revenues, and expenses. The financial statements are typically audited by an independent external auditor to ensure their accuracy and reliability.
Statement of Financial Position
The statement of financial position, also known as the balance sheet, presents YorkU’s assets, liabilities, and net assets at a specific point in time. The statement is typically divided into three main categories: assets, liabilities, and net assets. As of the latest available financial statements, YorkU’s assets include:
| Asset Category | Value (in millions) |
|---|---|
| Cash and cash equivalents | 145.6 |
| Investments | 341.9 |
| Property, plant, and equipment | 1,234.1 |
| Other assets | 135.4 |
| Total assets | 1,857.0 |
Liabilities include accounts payable, accrued liabilities, and long-term debt. As of the latest available financial statements, YorkU's liabilities include:
| Liability Category | Value (in millions) |
|---|---|
| Accounts payable | 45.1 |
| Accrued liabilities | 120.8 |
| Long-term debt | 434.9 |
| Other liabilities | 56.2 |
| Total liabilities | 657.0 |
Statement of Operations
The statement of operations, also known as the income statement, presents YorkU’s revenues and expenses over a specific period. The statement is typically divided into three main categories: operating revenues, operating expenses, and non-operating items. As of the latest available financial statements, YorkU’s operating revenues include:
| Revenue Category | Value (in millions) |
|---|---|
| Tuition fees | 543.9 |
| Government grants | 235.1 |
| Research grants and contracts | 123.4 |
| Other revenues | 56.6 |
| Total operating revenues | 959.0 |
Operating expenses include salaries and benefits, facilities and operations, and other expenses. As of the latest available financial statements, YorkU's operating expenses include:
| Expense Category | Value (in millions) |
|---|---|
| Salaries and benefits | 644.1 |
| Facilities and operations | 145.9 |
| Other expenses | 89.0 |
| Total operating expenses | 879.0 |
Financial Performance Analysis
YorkU’s financial performance is evaluated based on various metrics, including revenue growth, expense management, and cash flow generation. The university’s financial statements provide insights into its financial health and performance over time.
Revenue Growth
YorkU’s revenue has grown steadily over the years, driven by increases in tuition fees, government grants, and research grants and contracts. The university’s revenue growth is expected to continue, driven by its strategic priorities and initiatives.
Expense Management
YorkU’s expenses have also increased over time, driven by factors such as salary and benefit increases, facilities and operations costs, and other expenses. The university’s expense management strategies aim to optimize resources and minimize costs while maintaining academic excellence and research quality.
Cash Flow Generation
YorkU’s cash flow generation is critical to its financial sustainability, as it enables the university to invest in academic programs, research initiatives, and infrastructure development. The university’s cash flow is generated from various sources, including operating activities, investing activities, and financing activities.
What is YorkU's financial reporting framework?
+YorkU's financial statements are prepared in accordance with the Canadian Accounting Standards for Not-for-Profit Organizations.
What are YorkU's main revenue sources?
+YorkU's main revenue sources include tuition fees, government grants, and research grants and contracts.
What is YorkU's financial performance evaluation framework?
+YorkU's financial performance is evaluated based on various metrics, including revenue growth, expense management, and cash flow generation.
YorkU’s financial statements provide a comprehensive overview of its financial health, performance, and strategic priorities. The university’s commitment to financial sustainability, academic excellence, and research quality is evident in its financial reporting and performance analysis.
